If debt consolidation loan is gaining popularity day by day, there have been valid reasons for that. There are millions of people all over the world who have themselves in the deep ocean of debts. Who does not want to enhance his standard of living? However, the problem starts when people try to enhance the same through various kinds of debts, and an un-thoughtful approach towards borrowing put them in a very difficult situation. They find themselves unable to manage their debts and pay it off. This is where debt consolidation loan comes at their rescue. It does not only help them manage and pay off their debts but it also shows them the path so that they could get their finances back on track.
A Prudent Step Towards Debt Relief
When you choose to go for a debt consolidation loan, you simply open the gateway of ultimate financial freedom for you. You get a chance to pay off all your debts on much easier terms. Thus, if your debts have become unmanageable and you are looking out for a way not only to manage the same but to pay it off as soon as possible, do not hesitate going for the free debt consolidation help. You will be happy to know that the debt consolidation services can help you get rid of all the debts in less than five years.
Applying for a debt consolidation loan is now very easy, as you can even apply for the same online – right from the comfort of your home or office. All you need to do is to do a thorough research and choose the debt consolidation company that offers you a debt management program based on your specific financial requirements.
You can ease the loan burden by getting debt consolidation loans easily available on the web. You can look for cost free online debt consolidation quotes from major companies offering debt consolidation and debt elimination services. These companies provide help by offering to merge all loans and credit card bill dues into one affordable loan. The greatest advantage of getting the debt consolidation services is that you avail an opportunity to pay your debts easily while can also work to reorganize your finances so that you could put the same back on track.
The main objective of debt consolidation loan is to help people along the road to a better financial status. Therefore, make sure that you choose wisely and keep up with the payments on the consolidation loan to obtain a good credit rating .
Apurva offers articles and advice on issues related to free debt consolidation help and how and when to take a debt consolidation loan. For debt related articles by the same author visit, http://www.free-debt-consolidation-help.com
Article Source: http://EzineArticles.com/?expert=Apurva_Shree
Wednesday, April 18, 2007
Sunday, April 15, 2007
My Story: Why Debt Consolidation Didn't Work for Me
Despite having a six-figure job and a Master's degree in business, I managed to rack up well over $50,000 in credit card debt. I have no good reason for having racked up that debt. I have nothing of value to show for it. All things considered, it's pretty embarrassing.
Way back when I only had $27,000 in debt, I thought it would be a good idea to take out a debt consolidation loan. The credit card company made it seem like such a good idea. I'd only have one payment and I'd have no balances on any of my credit cards. It seemed like a no-brainer at the time.
I wish I had thought it through.
The debt consolidation loan carried an interest rate that was double what my credit cards were charging me. That meant that half of my payments were going to interest -- and only half was going to the debt I was putting into the loan.
Worse than that though was that the debt consolidation loans didn't solve anything. It put a band-aid on the situation, but didn't fix my issue.
My issue was that I spent too much. Cleaning out the balances on the credit cards didn't change that at all. I still overspent. I continued to rack up debt.
Taking out the debt consolidation loan was my own fault and my own mistake -- just like all the other debt that I racked up. Taking accountability for my financial situation was a big part of my debt elimination solution.
I didn't start to get out of debt until I changed my lifestyle. I set a budget, paid cash for everything, and lived below my means. All of that (coupled with taking on an extra job) allowed me to pay off all my debt -- including my debt consolidation loan -- in one year.
Now I can live like a person with a six-figure income should. It's a nice life without debts to pay. Financial freedom is a nice feeling.
Michael M Thomas paid off over $50,000 in credit card debt. You can learn how Mike did it by reading his blog. Mike's Credit Card Debt website also provides a free newsletter which regularly provides money saving tips. You can learn more about it and sign up for the newsletter here.
If you are serious about getting out of debt, you should consider a product like Debt Free in Three. Mike talks about Debt Free in Three on his blog.
Article Source: http://EzineArticles.com/?expert=Michael_M_Thomas
Way back when I only had $27,000 in debt, I thought it would be a good idea to take out a debt consolidation loan. The credit card company made it seem like such a good idea. I'd only have one payment and I'd have no balances on any of my credit cards. It seemed like a no-brainer at the time.
I wish I had thought it through.
The debt consolidation loan carried an interest rate that was double what my credit cards were charging me. That meant that half of my payments were going to interest -- and only half was going to the debt I was putting into the loan.
Worse than that though was that the debt consolidation loans didn't solve anything. It put a band-aid on the situation, but didn't fix my issue.
My issue was that I spent too much. Cleaning out the balances on the credit cards didn't change that at all. I still overspent. I continued to rack up debt.
Taking out the debt consolidation loan was my own fault and my own mistake -- just like all the other debt that I racked up. Taking accountability for my financial situation was a big part of my debt elimination solution.
I didn't start to get out of debt until I changed my lifestyle. I set a budget, paid cash for everything, and lived below my means. All of that (coupled with taking on an extra job) allowed me to pay off all my debt -- including my debt consolidation loan -- in one year.
Now I can live like a person with a six-figure income should. It's a nice life without debts to pay. Financial freedom is a nice feeling.
Michael M Thomas paid off over $50,000 in credit card debt. You can learn how Mike did it by reading his blog. Mike's Credit Card Debt website also provides a free newsletter which regularly provides money saving tips. You can learn more about it and sign up for the newsletter here.
If you are serious about getting out of debt, you should consider a product like Debt Free in Three. Mike talks about Debt Free in Three on his blog.
Article Source: http://EzineArticles.com/?expert=Michael_M_Thomas
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