Just the fact that you need to consolidate...
Just the fact that you need to consolidate indicates a problem. As soon as you start thinking about getting a debt consolidation loan, you should sit down and make a viable plan for getting out of debt. It's a big warning sign that should be heeded.
Hopefully people are using consolidation as a means to pay everything down. They've got a problem if they're trying to consolidate so they can get more debt.
They have a problem if they need the loan. Most people just turn right around and run up their cards again. I've seen someone reach the point where they couldn't get more cards, take out a home equity loan and pay them off, run them up again, get a debt consolidation loan, and run the cards right back up again.
consolidating does not mean the end of the road is near.. Some simplify they bills also..:D
sigs
Rep Points: 510
nowdays it seems as if every person in debt first thinks about consolidating them. it is important to understand that a debt consolidation loan should be obtained when there isn't any other way to eliminate or reduce debt. consolidation loan isn't necessarily the only solution to reduce debt. look out for other methods also.
