debt consolidation vs. loan?
Date: Sat, 12/13/2008 - 07:35
From a finance company, what is the difference between consolidating your debts and getting a loan from them? Aren't they the same thing since you end up paying THEM monthly instead of the card issuers?
Semicool, You've hit the right chord by popping up this question
Semicool, You've hit the right chord by popping up this question.
debt consolidation loans are nothing but personal loans by which you can payoff your multiple existing debts. You can go through the article, All about debt consolidation loan for a clear view on this matter.
debt consolidation program, on the other hand, is not a loan. It is debt management Program comprising of credit counseling followed by setting up of a Budget to payoff your multiple debts through a monthly repayment plan. You can also read the article Debt Consolidation Program - frequently asked questions for clearing all your doubts.
