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Borrowing Money to Consolidate Debt
Debt consolidation is usually done by taking out a big loan to
pays off other smaller loans. This is called a debt
consolidation program. Debt consolidation programs can be very
beneficial to borrowers, but may also put you at risk of...
Debt Consolidation. Just lump it all together!
In a world where people use credit as much as they drink water, it is no surprise that so many people need debt consolidation loans. Debt consolidation loans sound like a good way of getting your debt cleaned up, but are they? If you need help...
How to Find the Best Debt Consolidation Secured Loan
If debt is a way of life for you, it's time for you to consider finding a debt consolidation secured loan. This loan is designed so that you can pay off some or all of your debt, leaving you with a single low monthly payment instead of multiple...
Unemployed debt consolidation - When you have reached your financial brink.
There have been a lot of arguments against debts as being a very insecure situation. They are denounced as having many repercussions which penetrate a person's social, moral, individual, family level. This is true to some extent. I can say this...
Unsecured Debt Consolidation - Pros & Cons
Unsecured debt consolidation lowers your rates, helping you to pay off your debt sooner with one easy payment. You can also reduce your monthly payments. However, consolidating your short term loans can temporarily lower your credit score. You may...
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Consolidate your credit card debt
With the popularity of plastic money in the present age, credit cards are gaining immense importance. With the growing increase in usage of such cards the credit rates are also reaching the horizon. Debts are thus becoming a common happening in our daily lives. People who are under the claws of credit card debts need to give a serious thought to debt consolidation and lighten their burden. In the US more than half of the population have an average of $8000 debts, only because of the usage of credit cards.
You must be eager to know:
(1) How does debt consolidation helps in case of credit card debts?
(2) How consolidating my credit card debts could be beneficial?
A credit card debt consolidation loan can be a resource to consolidate the outstanding balances on your cards into one single loan. They can also be transferred to one single card that has a lower interest rate than the ones you are currently paying. The path to savings should be very cautiously chalked out and one needs to make calculated moves all the time. When you are paying high interest rates on some of your current credit cards then it might be a wise idea to go for a balance transfer onto another credit card or cards that have relatively low interest rate. Know more about balance transfer in the "members only" contents. We offer free membership. Calculate the interest on your credit card debts and transfer it accordingly.
The ideal way to consolidate your credit card debts!
In order to make you understand better we have a small example of how consolidating your credit card debt could be beneficial.
Let's say you have $100 in outstanding credit card debt and the average annual percentage rate (APR) on that card or cards is 18 %( which is the average). If the outstanding balance remains at $100 then over the course of a year you would pay approximately $18 in interest charges alone. If
you consolidate your credit card debt into a single loan with a lower interest rate or if you do a balance transfer onto a credit card or cards with a low interest rate you would save a significant amount of money.
If the new loan or credit card have a 9% APR then you would save roughly $10 in interest charges over the course of that same year. If you save $10 for a debt of $100, then think about a debt of $10,000. This trick will save you $1,000 over the course of that same year. Just think of $1, 00,000 debts; you can save $10,000. And this amount of $10,000 can be used to repay some of your debts. Life becomes easy with simple calculations and cautious moves.
If you are under a mountain of debts our experts will help you to consolidate your debts and help you tread you into a debt free land. Consolidating your debt is perhaps the fastest, safest and best way today to get rid of your financial obligations and we are experts in this field. Fill our free membership form to view all the alternatives. With debt consolidation we are here to consolidate all your financial loans in a single monthly payment. Thus we help you take the first step nearer to freedom. You can take a look at the following articles:
http://www.debtconsolidationcare.com/card-counseling.html
http://www.debtconsolidationcare.com/creditcard-terminology.html
http://www.debtconsolidationcare.com/creditcardfaq.html
http://www.debtconsolidationcare.com/credit-counseling.html
About the author:
Author’s Bio:
By Janet Williams.
Janet Williams is a contributing writer to http://www.debtconsolidationcare.com/and is currently working on a special section
in the site called do it yourself where you can eliminate your debts and become debt free...
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