Consolidating student loans and credit card debt
In almost every case, you’ll have lower payments because the term of your loan is prolonged. You are only restructuring your debt, not eliminating it.
You don’t need debt rearrangement—you need debt reformation.
Here are the top things you need to know before you consolidate your debt: But here’s the deal: Debt consolidation promises one thing but delivers another.
That’s why dishonest companies that promote too-good-to-be-true debt-relief programs continue to rank as the top consumer complaint received by the Federal Trade Commission.
Their behavior hasn’t changed, so it’s extremely likely they will go right back into debt.
The enticingly low interest rate is usually an introductory promotion and applies for a certain period of time only. Be on guard for “special” low-interest deals before or after the holidays.
Pay attention here, because these crafty companies will stick it to you if you’re not careful.
We’ve already covered consolidation: It’s a type of loan that rolls several unsecured debts into one single bill. Debt settlement means you hire a company to negotiate a lump-sum payment with your creditors for less than what you owe.
The solution requires you to roll up your sleeves, make a plan for your money, and take action!
I have a good job, but I have more than 0,000 in college loans from different banks coming due in two months. A: First, check to see if you have any federal loans, like Staffords.
And now the total loan amount would jump to ,103.