by: Carrie Reeder
A debt management company can consolidate your debt and lower your interest rates by negotiating with your creditors. Debt management companies can also help you pay off your loans sooner. But before you sign up with a company, make sure your research their services, fees, and practices.
Research Companies
It is important to research debt management companies to make sure you aren’t scammed out of thousands in fees. Legitimate companies offer a valuable service, charge reasonable fees, and are willing to disclose their terms.
Many debt management companies operate online and provide information through their website and over the phone. In a few hours, you can research dozens of companies to find the best one for you.
Ask About Services
The first question you should ask is what services the company offers. You want a company that specializes in handling accounts. Ask how soon the company begins making payments on your loans. Some companies wait several months before making payments, raking up late charges for you.
Some companies also offer certified credit counselors to help you develop a financial plan. This can be a valuable service if you want to consider other options for handling your debt.
Be wary of companies that offer bankruptcy or debt negotiation. These types of companies tend to focus on collecting fees rather than getting your debts paid off.
Compare Fees
All debt management companies charge fees. Reasonable fees consist of monthly payments for each account handled. Companies who charge large upfront fees expect you will drop out of the program before they provide you full service. By comparing fees of several companies, you will quickly be able to tell what is reasonable.
Request Free Information
Request a written quote of when accounts will be paid off. Each account will have a different pay off date since balances and rates will vary. A debt management company will be able to give you an exact date because lower rates are predetermined by creditors.
You should also ask for a written copy of the contract before signing. Be sure to review all items. Watch out for delayed payments or high fees for unnecessary services.
About The Author
Carrie Reeder is the owner of http://www.abcloanguide.com, an informational website about various types of loans.
View her recommended http://www.abcloanguide.com/debtconsolidation.shtml companies.
Sunday, December 31, 2006
Saturday, December 16, 2006
Consolidate all your Debt into One Monthly Payment
by: John Mussi
Are you feeling overburdened with debt? Are you paying out too much every month for your credit cards, store cards and loans? Then why not replace them all with one, lower, convenient repayment through a UK consolidation loan?
Consolidation loans can give you a fresh start, allowing you to consolidate all of your loans into one - giving you one easy to manage payment, and in most cases, at a lower rate of interest.
Secured on your UK home, low cost, low rate, cheap, low interest UK debt consolidation loans can sweep away the pile of repayments to your credit and store cards, HP, loans and replace them with one, low cost, monthly payment – one calculated to be well within your means.
With a UK Debt Consolidation Loan you can borrow from £5,000 to £75,000 and up to 125% of your property value in some cases.
A UK Consolidation Loan is a low cost loan secured on your UK home. It frees up the spare capital (or equity) in your home to repay your store card and other debts.
Consolidation loans can reduce BOTH your interest costs AND your monthly repayments, putting you back in control of your life.
Debt Consolidation Loan rates are variable, depending on status. Your monthly repayments will depend on the amount borrowed and term.
About The Author
John Mussi is the founder of Direct Online Loans who help UK homeowners find the best available loans via the www.directonlineloans.co.uk website.
Are you feeling overburdened with debt? Are you paying out too much every month for your credit cards, store cards and loans? Then why not replace them all with one, lower, convenient repayment through a UK consolidation loan?
Consolidation loans can give you a fresh start, allowing you to consolidate all of your loans into one - giving you one easy to manage payment, and in most cases, at a lower rate of interest.
Secured on your UK home, low cost, low rate, cheap, low interest UK debt consolidation loans can sweep away the pile of repayments to your credit and store cards, HP, loans and replace them with one, low cost, monthly payment – one calculated to be well within your means.
With a UK Debt Consolidation Loan you can borrow from £5,000 to £75,000 and up to 125% of your property value in some cases.
A UK Consolidation Loan is a low cost loan secured on your UK home. It frees up the spare capital (or equity) in your home to repay your store card and other debts.
Consolidation loans can reduce BOTH your interest costs AND your monthly repayments, putting you back in control of your life.
Debt Consolidation Loan rates are variable, depending on status. Your monthly repayments will depend on the amount borrowed and term.
About The Author
John Mussi is the founder of Direct Online Loans who help UK homeowners find the best available loans via the www.directonlineloans.co.uk website.
Friday, December 8, 2006
Get out of Debt - Top 5 Reasons you need to Consolidate Loans
by: Dion Semeniuk
Today, the number of people filing for bankruptcy has skyrocketed by 44% in just the past 10 years with numbers continuing to climb. Consumer credit has reached an all-time high, leaving more and more people in debt. While we need consumer spending to maintain and grow the economy, when money and credit are misused, disaster strikes.
Unfortunately, people are notorious for abusing money and before they know it, they are in completely over their heads with no way to get out – or so they think. In truth, there are options for getting out of debt, staying out of debt, and rebuilding damaged credit. Below, you will find the top five reasons for taking back control of your life with a debt consolidation loan or student consolidation loan.
Keeping your Home
Considering that the average cost of a home today is close to $175,000, it is easy to see why mortgages can zap a large part of a person’s income. However, with interest rates now at a serious low and being a homeowner an excellent investment, this is the time to save your home. If you find that you are being swallowed up by bills and your mortgage is getting further and further behind, a debt consolidation loan could not only get you caught up on payments but also make owning your home more manageable and enjoyable.
Going to School
Unfortunately, there are people all across the country that would love to go to school or go back to school to complete a degree. However, the high cost associated with tuition, books, and supplies makes it impossible for many people due to the high level of bills. In fact, with so many people working two jobs just to stay above water financially, trying to fit in the cost of the classroom is simply too difficult.
However, by choosing a debt consolidation loan or student consolidation loan, you can get all of your outstanding debt under control. With this type of loan, everything is wrapped into one loan at a great interest rate and with payment schedules, you can afford. With that, your bills would be far more management, allowing you to earn the coveted degree that will only push you further into success.
Credit Card Interest Rates
Sadly, many credit card companies lure people into having a credit card, offering great credit limits and convenience. However, these same companies are charging anywhere between 20% to 25% interest on a single credit card. Multiple that by several credit cards and there is no way the individual could pay off the debt. Today, the average balance on a credit card is $9,000 and most people have five or more cards.
Unfortunately, people do not realize that if they had even a $1,000 balance and were to pay the minimum payment with a high interest rate, they would be paying on that one credit card debt for 20 years or more before finally getting it paid off, just because of the interest. That means they are spending thousands and thousands of dollars just for the “privilege” to carry around a credit card. By securing a debt consolidation loan, you could have all outstanding credit card debt rolled into one loan with a low interest rate. Therefore, the debt would be paid off within a few years, saving tremendous money.
Controlling Debt
Because so many people are struggling with debt versus income, debt consolidation loans and student consolidation loans are booming. With this type of service, you also have the opportunity to meet one-on-one with a professional counselor that will review your debt versus income ratio and set you up on a realistic payment plan that works specifically for you.
An agency that specializes in debt consolidation loans or student consolidation loans is structured to work directly with your debtors, working out lower interest rates and better repayment schedules. With that, you can keep a schedule that would allow you to pay off all your debt in 30 to 60 months as opposed to 20 to 30 years! The bottom line is that depending on the level of your debt, you would easily save anywhere from $1,000 to hundreds of thousands of dollars in interest, processing fees, and late fees.
Future Buying
When you go to buy a home, car, get a student loan, or go into business for yourself, the first thing that will happen is a report will be run on our credit history. This report will show potential debtors how much money you own, if you pay your bills on time, if you have ever had a judgment against you or filed for bankruptcy, and everything possible about spending and paying habits. If you are way in over your head from a financial perspective, chances are you are overextended with credit, have missed some payments, made late payments, and overall have a fair or poor credit report history.
That means if you wanted to buy a home or car, you would be denied. Maintaining good credit is crucial and something everyone should take seriously. A debt consolidation loan would help you get back on track so your history report is favorable, not damaging. With that, if you want to invest in a home when you get married, or buy a larger car when little ones begin arriving, you could. Therefore, a debt consolidation loan can help you with future buying.
About The Author
Dion Semeniuk has researched various ways to consolidate loans and the best resources to do so. To learn more on why to consolidate you loans, please visit http://www.consolidation-loan-directory.com.
Today, the number of people filing for bankruptcy has skyrocketed by 44% in just the past 10 years with numbers continuing to climb. Consumer credit has reached an all-time high, leaving more and more people in debt. While we need consumer spending to maintain and grow the economy, when money and credit are misused, disaster strikes.
Unfortunately, people are notorious for abusing money and before they know it, they are in completely over their heads with no way to get out – or so they think. In truth, there are options for getting out of debt, staying out of debt, and rebuilding damaged credit. Below, you will find the top five reasons for taking back control of your life with a debt consolidation loan or student consolidation loan.
Keeping your Home
Considering that the average cost of a home today is close to $175,000, it is easy to see why mortgages can zap a large part of a person’s income. However, with interest rates now at a serious low and being a homeowner an excellent investment, this is the time to save your home. If you find that you are being swallowed up by bills and your mortgage is getting further and further behind, a debt consolidation loan could not only get you caught up on payments but also make owning your home more manageable and enjoyable.
Going to School
Unfortunately, there are people all across the country that would love to go to school or go back to school to complete a degree. However, the high cost associated with tuition, books, and supplies makes it impossible for many people due to the high level of bills. In fact, with so many people working two jobs just to stay above water financially, trying to fit in the cost of the classroom is simply too difficult.
However, by choosing a debt consolidation loan or student consolidation loan, you can get all of your outstanding debt under control. With this type of loan, everything is wrapped into one loan at a great interest rate and with payment schedules, you can afford. With that, your bills would be far more management, allowing you to earn the coveted degree that will only push you further into success.
Credit Card Interest Rates
Sadly, many credit card companies lure people into having a credit card, offering great credit limits and convenience. However, these same companies are charging anywhere between 20% to 25% interest on a single credit card. Multiple that by several credit cards and there is no way the individual could pay off the debt. Today, the average balance on a credit card is $9,000 and most people have five or more cards.
Unfortunately, people do not realize that if they had even a $1,000 balance and were to pay the minimum payment with a high interest rate, they would be paying on that one credit card debt for 20 years or more before finally getting it paid off, just because of the interest. That means they are spending thousands and thousands of dollars just for the “privilege” to carry around a credit card. By securing a debt consolidation loan, you could have all outstanding credit card debt rolled into one loan with a low interest rate. Therefore, the debt would be paid off within a few years, saving tremendous money.
Controlling Debt
Because so many people are struggling with debt versus income, debt consolidation loans and student consolidation loans are booming. With this type of service, you also have the opportunity to meet one-on-one with a professional counselor that will review your debt versus income ratio and set you up on a realistic payment plan that works specifically for you.
An agency that specializes in debt consolidation loans or student consolidation loans is structured to work directly with your debtors, working out lower interest rates and better repayment schedules. With that, you can keep a schedule that would allow you to pay off all your debt in 30 to 60 months as opposed to 20 to 30 years! The bottom line is that depending on the level of your debt, you would easily save anywhere from $1,000 to hundreds of thousands of dollars in interest, processing fees, and late fees.
Future Buying
When you go to buy a home, car, get a student loan, or go into business for yourself, the first thing that will happen is a report will be run on our credit history. This report will show potential debtors how much money you own, if you pay your bills on time, if you have ever had a judgment against you or filed for bankruptcy, and everything possible about spending and paying habits. If you are way in over your head from a financial perspective, chances are you are overextended with credit, have missed some payments, made late payments, and overall have a fair or poor credit report history.
That means if you wanted to buy a home or car, you would be denied. Maintaining good credit is crucial and something everyone should take seriously. A debt consolidation loan would help you get back on track so your history report is favorable, not damaging. With that, if you want to invest in a home when you get married, or buy a larger car when little ones begin arriving, you could. Therefore, a debt consolidation loan can help you with future buying.
About The Author
Dion Semeniuk has researched various ways to consolidate loans and the best resources to do so. To learn more on why to consolidate you loans, please visit http://www.consolidation-loan-directory.com.
Tuesday, December 5, 2006
Want To Consolidate Credit Card Debt?
by: Morgan Hamilton
Learning how to consolidate credit card debt is one of the best things cardholders can do. Consolidation is perfect for those who are looking to better their credit for the future. There are many advantages for cardholders who consolidate credit card debt. If you are thinking about consolidation, then there are a few things you should consider before doing so. Use these tips as a guide while you consolidate your debt.
Why Consolidate?
There are several great reasons to consolidate credit card debt. One of the best reasons is to get better rates. If you can get a better rate on a consolidation than you currently have, then there is no reason not to consolidate. Anytime you can consolidate credit card debt and save yourself money, you should. Locate all of your interest rates from each card and write them on a list. Then note the new rate you would be given. If the new rate is lower than the average of the old rate, then to consolidate credit card debt would be profitable for you. If there are cards that have a lower rate, then you don’t have to include them in your consolidation.
Another reason people love to consolidate credit card debt is to make their lives simple. By paying one bill, they can cut out a lot of stress and bill paying time. You should probably not consolidate credit card debt for this reason alone however. You don’t want to pay more in the long run just to cut out a few pieces of mail monthly.
Consolidation also gives those in a credit card mess a chance to get out of it. By consolidating, they may be making lower monthly payments than they would be if they didn’t consolidate credit card debt. By closing out the other accounts, their credit may also be improved.
Who To Turn To?
When you want to consolidate credit card debt, you should turn to professionals. There are many great credit card companies and banks that would love to help you with your request. Make sure you do your research so that when you consolidate credit card debt, you are certain you are making a decision that is profitable to you. Make sure there are no hidden fees that come with different consolidation plans. Doing your research can help you save money for the future.
Making The Choice
If you want to consolidate credit card debt, you should first look at all of your debt in detail. Once you know what you have, it will be easier to contact professionals to help you with your consolidation. Don’t be afraid to tell them you are shopping for the best deal. You should do yourself the honor of getting the best deal out there to making your consolidation as worthwhile as possible.
About The Author
Morgan Hamilton offers expert advice and great tips regarding all aspects concerning Credit Cards.
Get the information you are seeking now by visiting http://www.Find-Cards-Now.com
Learning how to consolidate credit card debt is one of the best things cardholders can do. Consolidation is perfect for those who are looking to better their credit for the future. There are many advantages for cardholders who consolidate credit card debt. If you are thinking about consolidation, then there are a few things you should consider before doing so. Use these tips as a guide while you consolidate your debt.
Why Consolidate?
There are several great reasons to consolidate credit card debt. One of the best reasons is to get better rates. If you can get a better rate on a consolidation than you currently have, then there is no reason not to consolidate. Anytime you can consolidate credit card debt and save yourself money, you should. Locate all of your interest rates from each card and write them on a list. Then note the new rate you would be given. If the new rate is lower than the average of the old rate, then to consolidate credit card debt would be profitable for you. If there are cards that have a lower rate, then you don’t have to include them in your consolidation.
Another reason people love to consolidate credit card debt is to make their lives simple. By paying one bill, they can cut out a lot of stress and bill paying time. You should probably not consolidate credit card debt for this reason alone however. You don’t want to pay more in the long run just to cut out a few pieces of mail monthly.
Consolidation also gives those in a credit card mess a chance to get out of it. By consolidating, they may be making lower monthly payments than they would be if they didn’t consolidate credit card debt. By closing out the other accounts, their credit may also be improved.
Who To Turn To?
When you want to consolidate credit card debt, you should turn to professionals. There are many great credit card companies and banks that would love to help you with your request. Make sure you do your research so that when you consolidate credit card debt, you are certain you are making a decision that is profitable to you. Make sure there are no hidden fees that come with different consolidation plans. Doing your research can help you save money for the future.
Making The Choice
If you want to consolidate credit card debt, you should first look at all of your debt in detail. Once you know what you have, it will be easier to contact professionals to help you with your consolidation. Don’t be afraid to tell them you are shopping for the best deal. You should do yourself the honor of getting the best deal out there to making your consolidation as worthwhile as possible.
About The Author
Morgan Hamilton offers expert advice and great tips regarding all aspects concerning Credit Cards.
Get the information you are seeking now by visiting http://www.Find-Cards-Now.com
Friday, December 1, 2006
Debt Consolidation: BE DEBT FREE--The different ways to consolidate your debts.
by: Mike Clive
A debt consolidation loan is a loan taken to consolidate a number of loans into one manageable loan. A debt consolidation loan can also help you in reducing the cost of your total debt as it usually carries a lower rate of interest than other loans, such as personal loans, credit cards, car loans, etc. A debt consolidation loan with an extended loan period can reduce the amount of your monthly loan repayments.
Thus, there are three main objectives of debt consolidation:
· To consolidate a number of loans into one manageable loan.
· To reduce the cost of debt.
· To reduce the amount of monthly loan repayments.
You may avail different types of loans to consolidate your debt:
Secured Loans
Debt consolidation through secured loans is a logical thing to do since secured loans carry low rates of interest and one of the objectives of debt consolidation is to reduce the cost of debt. However, you must be very careful while consolidating your debt through secured loans since it puts your property at the risk of repossession in case of repeated defaults in repayment on your part.
Unsecured Loans
You may also consolidate your debt through unsecured loans. However, before availing an unsecured loan to consolidate your debt, make sure that it does not carry a very high rate of interest otherwise the very objective of reducing the cost of debt will be defeated.
Home Equity Loan
Home equity loan is a type of secured loan. Home equity is the value left in a house after subtracting the unpaid mortgage balance from the current value of the house. A home equity loan is a second mortgage, which is taken against a house that is already mortgaged.
Low Interest Credit Cards
You can also reduce your debt burden by availing a new credit card that charges a lower rate of interest than your existing credit cards. If you use a low interest credit card to repay your earlier credit card dues, it will greatly reduce your debt burden. This can be even more beneficial when the new credit card offers 0% interest credit if it is repaid within a stipulated time.
About the Site:
http://www.shakespearefinance.co.uk is a Finance website designed to bring you the very best the loan industry has to offer. Specialising in Personal Loans, Secured Loans, Home Improvement Loans and Debt Consolidation Loans the website brings a wide variety of loans from among the ones mentioned from various lenders across the market. Customers may get quotes, call the customer service or simply apply online to access the different loans available. The loans calculator provided also helps to gauge the different parameters that are involved in loan application and approval.
About The Author
Mike Clive is a business writer specialising in finance and credit products and has written authoritative articles on the finance industry. He has done his masters in Business Administration and is currently assisting Shakespeare Finance as a finance specialist.
A debt consolidation loan is a loan taken to consolidate a number of loans into one manageable loan. A debt consolidation loan can also help you in reducing the cost of your total debt as it usually carries a lower rate of interest than other loans, such as personal loans, credit cards, car loans, etc. A debt consolidation loan with an extended loan period can reduce the amount of your monthly loan repayments.
Thus, there are three main objectives of debt consolidation:
· To consolidate a number of loans into one manageable loan.
· To reduce the cost of debt.
· To reduce the amount of monthly loan repayments.
You may avail different types of loans to consolidate your debt:
Secured Loans
Debt consolidation through secured loans is a logical thing to do since secured loans carry low rates of interest and one of the objectives of debt consolidation is to reduce the cost of debt. However, you must be very careful while consolidating your debt through secured loans since it puts your property at the risk of repossession in case of repeated defaults in repayment on your part.
Unsecured Loans
You may also consolidate your debt through unsecured loans. However, before availing an unsecured loan to consolidate your debt, make sure that it does not carry a very high rate of interest otherwise the very objective of reducing the cost of debt will be defeated.
Home Equity Loan
Home equity loan is a type of secured loan. Home equity is the value left in a house after subtracting the unpaid mortgage balance from the current value of the house. A home equity loan is a second mortgage, which is taken against a house that is already mortgaged.
Low Interest Credit Cards
You can also reduce your debt burden by availing a new credit card that charges a lower rate of interest than your existing credit cards. If you use a low interest credit card to repay your earlier credit card dues, it will greatly reduce your debt burden. This can be even more beneficial when the new credit card offers 0% interest credit if it is repaid within a stipulated time.
About the Site:
http://www.shakespearefinance.co.uk is a Finance website designed to bring you the very best the loan industry has to offer. Specialising in Personal Loans, Secured Loans, Home Improvement Loans and Debt Consolidation Loans the website brings a wide variety of loans from among the ones mentioned from various lenders across the market. Customers may get quotes, call the customer service or simply apply online to access the different loans available. The loans calculator provided also helps to gauge the different parameters that are involved in loan application and approval.
About The Author
Mike Clive is a business writer specialising in finance and credit products and has written authoritative articles on the finance industry. He has done his masters in Business Administration and is currently assisting Shakespeare Finance as a finance specialist.
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