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Debt Consolidation - What it is and how it works
What is Debt Consolidation?
Debt consolidation in the UK is the process where a debtor takes
out a single loan to pay off other existing loans. This can be
done to secure a lower interest rate, and hence make lower
monthly repayments, or to...
Debt Getting You Down? - Make a List!
Debt whether it be mortgage debt, credit card debt, a student loan or anything else is not much fun and when faced with it, people sometimes look for complicated debt solutions and often overlook the many simple ways that you can save money. Believe...
Get out of Debt - Top 5 Reasons you need to Consolidate Loans
GET OUT OF DEBT - TOP FIVE REASONS YOU NEED TO CONSOLIDATE LOANS Today, the number of people filing for bankruptcy has skyrocketed by 44% in just the past 10 years with numbers continuing to climb. Consumer credit has reached an all-time high,...
How Do You Spell Debt Relief?
Of all the problems possible in a marriage, finances cause the most marital discord. Many singles consider finances to be their most worrisome issue. Many times this is due to a heavy debt burden. Several options exist to help people get debt relief...
Self Help When You're In Debt
It's no fun being in debt. Money shortages are always stressful and serious debt can emotionally drain you. And yet, while you'll find lots of advice about the practical aspects of debt management, there is precious little help available for...
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Why a Debt Reduction Loan makes good financial sense
There are many good reasons why a debt reduction loan makes good financial sense. Many people carry a number of credit cards with high balances and high interest rates. Making even the minimum required monthly payment can be difficult. Credit cards are very often the primary reason why people get into debt situations, which causes enormous stress.
If you are a home owner, with considerable equity in your home, but who also has large credit card debt with high interest rates, it might make better financial sense to use some of your home equity as collateral and apply for a debt reduction loan. In this way you can get rid of the credit cards and consolidate the debt into one monthly payment, usually carrying a far lower interest rate than high interest rate credit cards. Your new monthly payment will more than likely be lower and you have extra cash on a monthly basis to pay off other debt.
There are many reasons for applying for a debt reduction loan. You may need to make a much needed home improvement and don't have the spare cash to do so. With the funds from a debt reduction loan, you could carry out your home improvement, which in turn could add additional value to the selling price of your home.
You may even have cash left over to pay off one or two credit cards.
Other reasons for a debt consolidation loan is often to pay for children's education, a son or daughter's wedding, or a family vacation. Most people don't have this sort of cash readily available and a debt reduction loan would give them the extra money required. It is important to make a very informed decision when using equity in your home. Your equity may be your retirement savings so you must balance all your options so that you come out ahead, financially. There is no point in using your home equity to pay off credit cards with very low interest rates. You will save nothing by doing so and you will be eroding your retirement savings through the equity in your home for no financial gain.
About the Author
©Copyright 2005. Caitlin Crosain is a successful writer and publisher of resource websites on how to Repair Bad Credit, qualify for Secured Credit Cards and Bad Credit Auto Loans and Personal Loans.
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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. |
| www.dri.org.uk |
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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 ... |
| www.debtrelief.com |
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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 ... |
| www.foxsymes.com.au |
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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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