How Good Is Debt Consolidation?
Posted on June 29, 2009 at 2:27 am
Oh. All right. thank you for the claification, V Note.
Can anyone tell me how different each of these are? Except for the debt consolidation loan, of course, as most have answered this quesiton already
Posted on June 29, 2009 at 2:33 am
I should have read more before beeing, wll, let's put it this way, bankrupt.
Posted on August 20, 2009 at 1:26 am
How good is debt consolidation? Well, in a lot of ways--compared to bankruptcy of course.
Debt consolidation may mean borrowing a loan to pay off your other loans--either thru a secured loan, or an unsecured loan. By doing the former you put up collateral as security for the loan.
On the other hand, debt consolidation is also loosely referred to as means in order for an individual to be able to pay off all their debts, and examples of these have been given earlier.
Posted on August 20, 2009 at 2:42 am
If you're talking about the debt consolidation loan per se I really wouldn't recommend it. For one thing, if you're asking "how good is debt consolidation," the simple answer to it is, it's NOT. It may be good in the sense that it serves as a short-term way of clearing the current debts that you have, but keep in mind that obtaining a debt to pay off other debts may have the potential to put you further into debt.
Posted on August 20, 2009 at 3:17 am
/how good is debt consolidation if your debts have charged off
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