Often people are heard saying that "I need a loan to pay my bills". However, very few people actually know how to go about it. Due to an unexpected event or a sudden financial crisis, a person's financial situation may get jeopardized. Loans are a good option provided you know how to utilize them in the proper manner. One such loan is the debt consolidation loan.
Debt consolidation loans may be used to consolidate certain debts, pay off medical bills, education bills, utility bills or just a restaurant bill. But loans add up to expenses as a debtor has to pay a part of the principal amount and the interest on a monthly basis. Moreover, a debt consolidation loan also requires collateral and the collateral may be lost if the debtor fails to make the payments.
An even better way to consolidate your debt is a debt consolidation program. It helps you to merge all your debt accounts into one and eventually pay off your debts. Know more on debt consolidation program.
To whom it may concern ive been trying to get a lo...
To whom it may concern ive been trying to get a loan for roughly about 7500 to take care of some personal debts i have. Im right now going to school to try and get my montgomery gi bill back which would increase my income by 1100 dollars a month which i can use to pay back on the loan. I wont recieve my money until january after succsessfull completion in my course. If you can help me id be greatly appreciate it.
By signing up a debt counseling session, your provided details (Name, Email ID and Phone No.) will be forwarded to the company advertising on the DebtCC. However, you have no obligation to use their services.
Some creditors and collection agencies refuse to lower the payoff amount, interest rate, and fees owed by the consumer.
Creditors/collection agencies can make collection calls and file lawsuits against the consumers represented by the debt relief companies.
Debt relief services may have a negative impact on the consumer's creditworthiness and his overall debt amount may increase due to the accumulation of extra fees.
The amount which the consumer saves with the use of debt relief services can be regarded as taxable income.