Debt consolidation occurs where one takes out a loan in order to pay off two or more existing debts. Consolidating existing unstructured debt into one personal loan may save on your monthly outgoings while, at the same time, offering a repayment discipline and clear end-date to your debt.
An individual can join any debt consolidation program run by either a private or a non profit organization. After meeting with a certified debt counselor one is in a position to decide which option is the best. The options available are debt consolidation whereby all the debts are lumped together and paid off with one single monthly payment negotiated by the debt relief agency. There is debt consolidation loans, debt management plan and as a last resort bankruptcy.
A Debt Consolidation service, or sometimes referred to as a “Debt Management Plan”, has preset arrangements with almost all of the major creditors (mostly credit card companies, and some medical & collection companies) where the interest rate is roughly predetermined. On calling a debt consolidation company, they refer to creditor rate sheet and then give a new payment based on the lower interest...
To view and download this full PLR article, you must be logged in. Registration is completely free. Once you create your account, you will be able to browse, search & downlod from our PLR articles database of over "1,57,897+" on 1,000's of niches and 200+ categories without paying a penny. Click here to signup...
