|
|
Bad is the opposite of good. Is it? Not with bad debt personal loans
‘Bad’ means ‘bad’ no matter where you go! It is cumbersome and heavy, a threat and negative. So, you are taking this burden of bad debt every time you make a loan application for personal loans. It can’t be translated into something good and...
Debt elimination: Legal! Lawful! Ethical! Debt elimination really works.
You are trying hard to eliminate your loans but keep falling back on your old ways. This constantly leads you back to square one situation and debts seem like they are ever increasing. This is the time to go for debt elimination. The good news is...
Debt Help - Debt Consolidation Loans Versus Credit Counseling
Debt consolidation loans are a do-it-yourself process, whereas
credit counseling helps you to make financial decisions. If you
already have a financial plan, then you probably don't need the
services of a credit counselor. However, if you have...
Good Debt Vs Bad Debt
Debt has been a part of every body's life and personal debt gradient is on the rise because credit hasn't been easier to receive. In everyday life, most of us would not have enough finances in one go when it comes to paying for our apartments or...
UK Debt When Moving Abroad
The idea of moving abroad to escape debt seems to be more of a common practice these days. People who have failed businesses or are swamped in debt believe that moving abroad will give them a fresh start and allow them to build a new life.
...
|
|
|
|
|
|
|
|
Repair Bad Credit With Debt Consolidation Loans
Bad credit? Debt consolidation loans are an effective strategy to help you overcome bad credit and get back on the road to credit health. Does it seem strange that a finance company would offer someone with bad credit debt consolidation loans? There are many credit and finance agencies that offer specific bad credit debt consolidation loans that will help you get all your debts into one manageable monthly payment and begin to repair your credit.
What are a "bad credit debt consolidation loans"?
There are two parts to that question. Let's address the first to begin with. The purpose of a debt consolidation loan is to combine all of the debts that you owe into one large debt. If you currently are carrying debt on several high interest credit cards, it makes sense to take out a lower interest loan for the total amount that you owe and use the money to pay off the balance of each credit card. Instead of making five payments each month at interest rates ranging from 9.9% to 29.5%, you'll be making one payment to the finance company - at rates as low as 6.2% interest (this morning's prime lending rate."
The second part of the question is the 'bad credit' debt consolidation loans part. Essentially, the loan is the exact same, as is the purpose - to get all your debts into one basket so that repayment is easier. The difference is in the interest rate. The lower your credit score, the more of a risk the lender assumes in loaning you money. Lenders offset the risk by charging you a higher interest rate when your credit score is lower. That interest rate is usually tied to the prime lending rate in some way - often 2-3 percentage points higher. The interest rate on a bad credit debt consolidation loan varies widely from lender to lender, though, so it's definitely in your best interest to shop around and get quotes from several different lenders before making a decision on a loan.
How a bad credit debt consolidation loan helps you (and your credit rating)
Besides the obvious benefit of lowering your monthly payments, a bad credit debt consolidation loan may have other benefits as well. Depending on the terms of the loan, it MAY reduce your overall debt. By trading in an adjustable rate revolving credit
account for a fixed rate, lower interest fixed term loan (in other words, a loan that has a definite target repayment date), you could significantly decrease the interest charges that you'll pay on the money over the term of the loan. In addition, you've simplified your life - everything is due on one date in one payment. You'll even save money on postage every month!
As far as the effect on your credit score - your credit report will now show 5 paid off revolving credit accounts. It's a good idea to leave one or two of them open - both for emergency purposes and to benefit your available credit ratio (how much credit is available to you vs. how much debt you owe).
All in all, bad credit debt consolidation loans can be a very effective tool to help you lower your overall debt and increase your credit score.
@Copyrights 2005 - Bill A Smith is a credit counselor for ACS credit counseling. ACS provides credit counseling in the states of Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah. Through our partners, we cover Vermont, Virginia, Washington, Washington DC, West Virginia, Wisconsin and Wyoming.
Source: www.isnare.com
|
|
|
|
|
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 |
  |
Welcome to Debt Relief International |
Welcome to the web site of Debt Relief International. |
www.dri.org.uk |
  |
Debt relief steps, your free guide to debt help. |
Articles on debt relief, and credit management and repair. |
www.debtsteps.com |
  |
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 |
  |
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 |
  |
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 |
  |
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 ... |
www.debtrelief.com |
  |
Debt Relief - InCharge Debt Solutions |
There are many ways to get out of debt, for good, and it may be easier than you think. The first step is knowing your options, the second step is taking ... |
www.incharge.org |
  |
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 |
  |
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 |
  |
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 |
  |
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 |
  |
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 |
  |
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 |
  |
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 |
  |
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 |
  |
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 |
  |
Debt Consolidation Australia, Debt Relief & Bankruptcy Information |
Specialising in debt agreements, mortgage refinancing and bankruptcy. Company profile, calculators, solutions, media releases, testimonials and existing ... |
www.foxsymes.com.au |
  |
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 |
  |
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 |
  |
|