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Fair Debt Collection
If you use credit cards, owe money on a personal loan, or are paying on a home mortgage, you are a "debtor." If you fall behind in repaying your creditors, or an error is made on your accounts, you may be contacted by a "debt collector." You...
Getting A Run For Your Money: How Do You Consolidate Credit Card Debt
Spending is such a hard habit to break, especially when people
use their credit cards. Once they get addicted, they
continuously endure the agony of spending in spite of imminent
problems that tag behind.
And when things eventually get out...
How Credit Card Debt Effects You
The statistics are truly mind numbing and continue to get worse
each and every year. At the current rate about 1% or one in a
hundred families will be forced to declare bankruptcy at some
point and over 90% of Americans' disposable income is...
How to Simplify Your Debt Load
With the consumerist economy of western culture, it seems only
natural that shoppers are going to build up a fair amount of
debt over time. There comes a time, however, where one's debt
becomes a huge burden, with a mish mash of high...
Nurse your credit rating with debt counseling
The most important first step you should take is to admit that you have a financial problem. As soon as you do that, you have taken a very big leap towards positive debt counseling and will soon recover from your debt problems. As they always say,...
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Tracking Down Cheap Debt Consolidation Loans
In the modern world of expensive living and high interest rates, it might seem nearly impossible to find cheap debt consolidation loans. If you're one of the people who desperately need one of these loans then there's a good chance that you have less-than-wonderful credit… meaning that you've probably already accepted the seemingly-inevitable fate of paying high interest rates for any loan that you get.
There are cheap debt consolidation loans available, though, even if your credit is poor; you just have to know where to look, and what to offer in exchange.
Finding the right lenders
The first thing that you need to do when looking for cheap debt consolidation loans is find potential lenders. Internet searches can yield a variety of different “debt consolidation” specialists who will be able to offer loans at very reasonable rates.
Of course, to get these cheap debt consolidation loans you're going to need to offer some security in exchange… and that's where collateral comes into play.
The right collateral for your loan
In order to get the lowest interest rates and have access to cheap debt consolidation loans, you're going to need collateral. Collateral is some form of property that is offered as security for a loan, and that can be repossessed and sold by the lender if the loan is not repaid.
Technically collateral can be any property with value, but in most cases it falls into one of three categories: vehicles, real estate, and precious metals or
collectibles. When applying for cheap debt consolidation loans, it's best to ignore the last category… automobiles and real estate offer a much easier way to determine the value of the collateral, and are generally easier for the bank or other lender to sell in case things come to that.
Select the collateral item that has the highest value, and get quotes of interest rates and terms from several lenders using it at each one.
Compare and save
Once you have several different quotes for cheap debt consolidation loans, sit down and compare the interest rates and other terms associated with each of them.
Some of the loans will obviously have better rates and terms than others, and since they are all based on the same collateral property it should be relatively easy to compare them to find the best deal for your money. Whichever lender you choose should be repaid as quickly as you can,
in case you should find yourself needing cheap debt consolidation loans again sometime in the future… after all, they'll likely remember you from this time and be more willing to offer you good rates if they have a positive experience to relate to.
You may freely reprint this article provided the following author's biography (including the live URL link) remains intact:
About the Author
John Mussi is the founder of Direct Online Loans who help homeowners find the best available loans via the www.directonlineloans.co.uk website.
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| www.ftc.gov |
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