subject: Most offers for a debt consolidation loan are untrue since this product often does not exist [print this page] Most offers for a debt consolidation loan are untrue since this product often does not exist
Credit card debt consolidation is a very smart move by those trying to reduce their debt or get debt free. One can also call this unsecured debt consolidation since it applies not only to credit cars but to all the unsecured debt one may have. This can include retail store charges like Target, Home Depot, Lowe's and etc. It also covers unpaid medical bills and doctor's charges. Also included are pay day loans or other short term loans that haven't been secured by our auto or some other asset.
It's important not to confuse unsecured debt consolidation with a debt consolidation loan. While you see offers for a debt consolidation loans widely on the internet, most are not real. It doesn't take a genius to know that it's not real smart to lend someone who is drowning in debt more money. So be very wary of offers to make you a debt consolidation loan.
To help you get on top of your debt, you can find a debt consolidation service to work with you. They will counsel with you usually for free which is helpful. More importantly they will negotiate down both your high interest rates and your outstanding balances. You will find that once you are experiencing lower rates along with lower balances, you payments have a big impact and debt starts to disappear rapidly.
No more of this making large payments every month and the balance never changes! You'll be delighted you decided to move forward with credit card debt consolidation and to use a debt consolidation service. This is an intelligent way to address too much debt. It's also ethical and less emotionally stressful than filing for personal bankruptcy. Once your debt starts to recede, you will find that your credit score starts to go up and before long you will be back in the ranks of those with good credit.
