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A Beginner's Guide to Low Interest Debt Consolidation Loans
Looking for low interest debt consolidation loans can sometimes seem like looking for gold at the end of the rainbow, but loans with minimal interest can be had even by people with poor credit ratings. The most important things in trying to find...
Credit Card Debt Problems
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How To Do A Credit Card Debt Consolidation?
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Guide to debt consolidation: simple steps to consolidate debt
A Debt consolidation loan is a loan used to repay several other
loans. It is a single, low cost, secured loan. A UK Debt
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. The loan may have been taken
due to debts incurred through personal loans, credit cards,
overdrafts, or may represent any number of unpaid bills that
have built up over time. Debt Consolidation Loan rates are
variable, depending on status. Monthly repayments will depend on
the amount borrowed and the term. These 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. It can reduce both your interest
costs and your monthly repayments, putting you back in control
of your life.
Average household debt in UK is £44857 including mortgage and
£7,694 excluding mortgage. UK has seen a rapid increase in
household debts, which means that more than half of the people
have trouble meeting their monthly payments, and are being
driven further and further into debt. With an average family
having 14 credit cards, and various other debts - debt
consolidation seems only logical.
Debt consolidation and settlement solutions are
practical means for eliminating credit card and other high
interest debts, and getting your financial health and future
back on track. Being concerned about debt elimination 24hrs a
day can be extremely stressful, both on you and your family. So
take a few minutes right now and educate yourself about your
options.
1. Go with a company that has a good reputation. Don't assume
that every non-profit company is necessarily going to look out
for your interests more than a for profit debt consolidation
company. Shopping around will give you the means to decide on
the one that best suits your circumstances and budget. Spend
time researching different lenders and get quote from a handful
before deciding on whom to take your debt consolidation loan
from.
2. Do the math yourself. Take the time to work through the
expenses yourself and see how much you will be paying, how long
it will take to pay off the loan, etc. Too many people keen to
consolidate their debts,
take the first opportunity available to
them, unaware that there are lower rates and other options
available.
3. You must consider whether debt consolidation is cost
effective in the long term. Paying off an existing debt may
incur charges for early settlement, and there may also be a fee
for arranging your consolidation loan.
4. Also, by taking out a new loan, you will be extending the
period in which you are paying off debts - and that might mean a
greater interest cost in the long run. Finally, many lenders add
payment protection insurance to their loans without the
borrowers' knowledge, which is often more expensive than similar
cover freely available elsewhere.
5. Make sure you understand the difference between variable and
fixed rate loans. If you sign up for a variable rate loan, you
may get a lower rate initially, but within a few years it may go
up.
6. Debt consolidation with debt counseling can provide you with
debt advice for financial planning. This would help you sort out
your present debts as well as prevent you from getting into
future debt. Debt counseling services can talk to your creditors
about reducing interest rate, eliminating late fees and
extending loan term. For debt elimination, search a debt
counseling agency that is the member of
National Foundation for Credit Counseling (NFCC) or the
Association of Independent Consumer Credit Counseling Agencies
(AICCCA).
Secured on your UK home, low cost, low rate, cheap, low interest
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.
It has been found that a significant number of UK residents are
not aware of the benefits of the debt consolidation options and
are suspicious about how it works. There is a need to increase
the awareness of the debt consolidation solutions and evolve new
varieties and features for debt consolidation solutions. There
is a great potential to increase the benefits of debt
consolidation solutions.
About the author:
Marsha Claire is offering loan advice for quite some time.To
find UK debt consolidation loan,debt management,debt advice
visit http://www.ukdebtco
nsolidations.co.uk/
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| Advertisements Promising Debt Relief May Be Offering Bankruptcy |
| Cautions consumers about ads in newspaper, magazine and telephone directories that offer quick fixes for debt problems. |
| www.ftc.gov |
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| Welcome to Debt Relief International |
| Welcome to the web site of Debt Relief International. |
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| Debt relief steps, your free guide to debt help. |
| Articles on debt relief, and credit management and repair. |
| www.debtsteps.com |
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| Factsheet - Debt Relief Under the Heavily Indebted Poor Countries ... |
| The HIPC Initiative is a comprehensive approach to debt reduction for heavily indebted poor countries pursuing IMF- and World Bank-supported adjustment and ... |
| www.imf.org |
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| Special report: debt relief | Special reports | Guardian Unlimited |
| February 6: A year ago the Guardian set out to track the west's promises of action for Africa on aid, trade, health and debt relief. As G8 finance ministers ... |
| www.guardian.co.uk |
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| Debt Relief Options - Findlaw for the Public - |
| Welcome to Debt Relief Options. This section contains information about the ... To begin, select one of the Debt Relief Options topics from the list below ... |
| bankruptcy.findlaw.com |
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| William Brewer |
| The Brewer Law Firm. William E. Brewer, Jr., Attorney at Law Board Certified Consumer Bankruptcy Specialist. 619 N. Person Street Raleigh, NC 27604 ... |
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| Debt Relief - InCharge Debt Solutions |
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| www.incharge.org |
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| Economic Policy and Debt |
| May 2006, IMF And World Bank Support Cameroon’s Completion Point Under The Enhanced HIPC Initiative And The IMF Immediately Grants 100 Percent Debt Relief ... |
| www.worldbank.org |
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| Economic Policy and Debt - The Enhanced HIPC Initiative |
| The Initiative’s debt-burden thresholds were adjusted downward, which enabled a broader group of countries to qualify for larger volumes of debt relief. ... |
| www.worldbank.org |
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| Debt relief - Wikipedia, the free encyclopedia |
| Debt relief is the partial or total forgiveness of debt, or the slowing or stopping of debt growth, owed by individuals, corporations, or nations. ... |
| en.wikipedia.org |
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| Debt Analyzer, Debt Reduction Software, Home Page |
| Debt Elimination at its best! Potential savings of hundreds or thousands of dollars! Build debt reduction, timed elimination or consolidation schedules. |
| www.debtanalyzer.com |
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| Superior Debt Relief |
| We help you get rid of credit card debt much faster than you may believe possible with credit card debt settlement and negotiation tactics, providing debt ... |
| www.superiordebtrelief.com |
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| Debt Relief - Social and Economic Policy - Global Policy Forum |
| Aid Inflows, Debt Relief Yet to Translate into Reduced Poverty (March 20, 2006) ... Fearing that the IMF could tie debt relief to economic benchmarks, ... |
| www.globalpolicy.org |
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| Debt Relief - Global Policy Forum - Social and Economic Policy |
| Debt Relief - Global Policy Forum - Social and Economic Policy. The Debt Relief Page Has Been Moved to: ... |
| www.globalpolicy.org |
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| BBC NEWS | Business | Q&A: African debt relief |
| BBC News looks at the progress of international debt reduction efforts, and the sticking points which continue to hamper the process. |
| news.bbc.co.uk |
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| Debt Relief Australia - Start Reducing Debt Today! |
| Debt Relief offers Australians in debt assistance with finding the most appropriate debt relief solution. |
| www.debtrelief.com.au |
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| Debt Consolidation Australia, Debt Relief & Bankruptcy Information |
| Specialising in debt agreements, mortgage refinancing and bankruptcy. Company profile, calculators, solutions, media releases, testimonials and existing ... |
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| Oxfam - Debt and Aid - Debt Relief for Nicaragua: breaking out of ... |
| Oxfam policy paper on relationship between international debt servicing and poverty. Linked to table of contents and also zipped for download. |
| www.oxfam.org.uk |
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| What debt relief means for Africa | csmonitor.com |
| This weekend's $40 billion debt cancellation deal could spark major improvements in the lives of the world's poorest people. |
| www.csmonitor.com |
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