subject: Credit Debt Consolidation Start Breathing Today
[print this page] Overwhelming debt can seem suffocating at times. Not only does debt cause stress, it also lowers your standard of living by cutting into your income with high-interest payments.
People who have little or no debt often have higher standards of living than those who have too many bills to pay. Why? Paying interest is like throwing your money away. You never see it again and you have nothing to show for it. Those without debt keep all of the money they earn.
If you're ready to elevate your standard of living, you can do so instantly with credit debt consolidation. Getting a consolidation loan is possible even if you have bad credit. So don't tune out just yet.
In fact, the government has been putting a lot of money into debt programs in order to turn the economy around. And much of the money has been earmarked for those with bad credit.
The following are ways that you can consolidate your debt and start breathing today:
* Consolidation Loan Your first option is a consolidation loan. Consolidation loans can come in the form of refinanced mortgages, second mortgages and low-interest loans.
You can even do some consolidating by transferring high-interest balances to low-interest accounts, but the primary goal is to combine all of your debts into one with one all-encompassing loan.
* Credit Counseling Credit counselors can help you combine all of your debt figuratively speaking. These agencies talk to all of your creditors and get them to agree to a lower interest rate and a lower monthly payment.
They combine all of your payments together, put a little bit in there for themselves, and bill you monthly. Once they receive your payment, they disburse it to your creditors.
* Consolidate Accounts Many families have similar accounts held by the same finance company. For example: Two car loans held by the same bank. Sometimes, you can consolidate these loans into one resulting in a lower monthly payment.
You might even be able to combine store credit card accounts. You would be surprised at how many stores operate under the same corporation.
Credit debt consolidation calls for creativity and a "never say die" spirit. If you get a negative answer, do not give up. There are several roads that lead to where you want to go. If you come across a road block, turn around and try a different way.
Also, be sure to arm yourself with knowledge. Your creditors will take you more seriously if you know what you're talking about.
Debt consolidation is ideal because it brings relief instantly. Immediately, you will feel more confident about your financial situation. And your finances will improve instantly as well.
If you're smart, you will use at least some of the money you save to pay off your debt quicker and avoid needless interest charges. If you make smart financial decisions, you will be out of debt quicker than you ever thought possible.
by: Dan Cavalli
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