|
|
|
Attaining A Debt Free Lifestyle
Many people have been taught that you cannot get ahead without debt. We are also inundated with advertising telling us we can have anything we want. All we need to do is put it on our credit card.
We have become an impatient society, we want...
Bringing Debts into a Marriage
Are you a credit card junkie? Credit card debt can often be a big, deep, dark secret for someone preparing for marriage. It’s an uncomfortable subject to talk about. Do you bring it up before or after he slips the engagement ring on your finger...
Credit Card Debt Elimination
If you have a large amount of credit card debt, it may seem that
there is no way out from under the financial pressure. Financial
difficulties can affect other areas of your life and cause you a
great deal of worry and stress. The good news is...
Debt Consolidation
There are many reasons why people get into debt - some of them self inflicted and some of them way outside of our control. Losing a job, illness or accidents, all of these can suddenly plunge one into unexpected expenditure, and often the only...
Debt Reduction, a Necessary Endeavour
Massive debt is something many Americans face. Debt reduction is now becoming more and more of a necessity. Even a low amount of debt can cost you a lot in the end and it can take a very long time to pay off. An example: Let's say you have $4000 in...
|
|
| |
|
|
|
|
|
|
What You Need to Know About Debt Consolidation Loans UK
Should you find yourself over your head in debt, you might want to start looking into debt consolidation loans UK . These loans are designed for the person who needs help in taking care of their outstanding debt, keeping them from bankruptcy.
Much like conventional secured loans, debt consolidation loans UK are more or less marketed toward those with credit problems… enabling them to consolidate a portion (if not all) of their debts into a single lower monthly payment.
Debt consolidation loans UK tend to have a few advantages over conventional loans… they're usually easier for people with poor credit to get, they sometimes offer better rates than other loans that the person could apply for, and some debtors will even offer lower repayment rates to people who are consolidating their debt.
How debt consolidation loans UK work
Since debt consolidation loans UK are still loans, they need to be applied for at a bank or other lender. Some companies specialize in this type of loan almost exclusively, whereas others deal in these loans as well as more conventional home or auto loans. In most cases, you need to be able to show the various debts that you hold as well as statements of income, a stable residence, and collateral.
Once you've been approved for your loan, the actual consolidation can occur in several different ways. In some cases, the lender will process the payments for you (as is the case with some companies that specialize in debt consolidation loans UK .) In other cases, you'll be issued either a check or a line of credit and are responsible for making the debt payments yourself.
Either way, the money
that you borrow is used to pay off some or all of your debt and instead of paying your outstanding debts you simply pay the money to repay the loan.
Debt consolidation loans UK are often secured loans
In most cases, debt consolidation loans UK are secured loans, meaning that they have some sort of collateral required as a security for the loan. Automobiles and real estate are most often used as collateral, though depending upon the lender precious metals or other valuables can sometimes be used.
Regardless of the collateral used, its purpose is to insure that the loan will be repaid… after all, if you don't repay the money that was lent to you, then the lender is able to take possession of your collateral and sell it in order to recover their lost money (often for considerably less than the value of the collateral.)
Keep in mind, however, that pretty much all lenders who offer debt consolidation loans UK would much rather you simply repay the loan than have to sell off your collateral.
After all, they get off a lot cheaper and with a lot less time involved if they don't have to hire someone to take possession, then find a seller, and process the sale… because of this, many lenders are willing to work with you to help you catch up should you fall behind on your payments.
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.
|
|
|
|
|
| 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 |
|
|