Posted on
March 14, 2010
at
9:58 pm
Could you discuss debt consolidation and how it works? Why should I do it?
Posted on
March 14, 2010
at
10:18 pm
Could you discuss debt consolidation and how it works? Why should I do it?- Debt consolidationcan be considered as ..like an umbrella term for debt relief programs (strategies) - there are are several:there's credit counseling, debt consolidation loan (although this is not a program), debt settlement,and then there's bankruptcy.
Posted on
March 15, 2010
at
12:25 am
Debt consolidation and how it works - you can do it (d.i.y.) by yourself orhire the services of the professional debt negotiators (credit counselorsand debt settlement negotiators). Why should you do it? If your debtis unsecured and you can't handle the payments anymore or just thethought of paying them for some 10 years more - and you don't want tofile bankruptcy ... then consolidating your debt should make sense to you.
Posted on
March 15, 2010
at
2:16 am
Debt consolidation, how it works - you sign up for credit counseling. They offeryou their Debt Management Plan (whichnegotiates your interest rates) which would cost $25/mo. There's no guaranteethat you'd be debt free in 3-5 years.
Posted on
March 15, 2010
at
2:21 am
Unless of course you have a mind set of - I'll take my chances -and stick with the program all the way through. I suppose, if thecredit counseling agency is one of those quality ones - ones that lookout for your interest - they'd do things to make the program work for you.One of the main reasons why credit counseling doesn't work is ..somecreditors refuse to work with credit counseling agencies.
Posted on
March 15, 2010
at
4:00 am
Debt consolidation - how it works - okay for debt settlement, if you havea debt amount (balance) of $10k - your accounts are past due - the settlementcompany would negotiate with a third party collection agency for you. For credit counseling, if you owe less than $10k- your accounts are current - the creditcounselors would negotiate your interest rates - so you can finally put a dent on yourprincipal debt.
Posted on
July 30, 2010
at
4:24 am
You should read this. en.wikipedia.org/wiki/Debt_consolidation
Posted on
August 2, 2010
at
11:44 pm
i have some doubt ...what is a better option..debt consolidation or bankruptcy?
Posted on
October 5, 2010
at
11:11 am
The lending industry is not happy about the student loan situation, their main argument being that they need to know, when considering an application for credit, if the applicant has extra financial responsibilities. The introduction of top-up fees resulted in increasingly large student debts, and as the post-1998 loans have to be paid off at a rate of 9% of the graduate’s income once it has reached 15,000, it is a large portion of income to lose.===========================
Consolidation Loan
