Debt Consolidation Loans - Don't Let Piling Debts Let You Down
- Author Anaya Erika
- Published April 2, 2007
- Word count 329
-
Are you suffering from piling debts and their repayments?
-
Is managing so many debts at the same time creating a commotion in your life?
-
Do you want to manage your debts in a better fashion?
If you said yes, then debt consolidation loans are just what you are looking for.
Debt consolidation loans are loans that help you pay off all the debts that are currently tugging at your peace of mind. This loan replaces all the loans you are paying at this time and, therefore, reduces your payments to just one monthly payment.
You can get very attractive rates if you go for secured debt consolidation loans. The interest rates are lower than unsecured loans and you also get the benefit of extending your period of repayment. But in secured loans, you need a property to secure your loan against. The equity value of property should be equal to or higher than the amount you wish to take as loan. However, some lenders offer negative equity on property; that is, if your property is based in a prime location.
Debt consolidation loans are very common in the UK as people combine all their unsecured debts into one, which makes their debt management easy and effective. There are multiple benefits (both financial as well as personal) that debt consolidation loans offer:
-
Your monthly outgoings get reduced
-
You can reframe your existing debts into one monthly payment
-
You are able to stick to your monthly budget
-
You are able to manage your debts successfully
-
This also perks up your financial records
-
You can make and stick to a certain repayment plan
-
You just need to pay the interest on one loan
There are positive changes that debt consolidation loans bring about in your life. You get rid of unwanted calls from the different lenders, your family is happy, and you get a feeling of relief and contentment. Choose from various kinds of debt consolidation loans and see the difference yourself.
The author is a business writer specializing in finance and credit products and has written authoritative articles on the finance industry. She has done masters in Business Administration and is currently assisting Shakespeare finance as a finance specialist. For more information about debt consolidation loans please visit at http://www.shakespearefinance.co.uk/
Article source: https://articlebiz.comRate article
Article comments
There are no posted comments.
Related articles
- Mwananchi Credit Highlights The importance of Teaching Financial Literacy In Schools
- Porchlio's Rent Affordability Calculator: Your Key to Smart Renting
- What is SMB Funding?
- Cash USA | Quick & Easy Loans
- How Can a Private Loan Help Your Cash Flow Situation
- Business Line of Credit: A Lifeline of Your Financial Needs!
- Unsecured Small Business Loans in Australia
- Working Capital Loans: Everything you Need to Know
- Small Business Cash Advance Loans - Fast and Easy
- Things Not to Do When Building Business Credit
- Why Small Business Loans Do not Get Approved
- How to File Great West Life Benefit insurance Claim
- My encounter with the heartless corporate America @ChaseBank
- Are low doc home loans still available in Australia?
- Think Due Diligence Before Acknowledging That Loan Offer
- Tie Up Your Financial Loose Ends! The Importance of Managing High-Interest Loans
- Understanding cash flow vs. asset-based business lending
- Debt Consolidation Loan or Debt Counselling in South Africa
- Credit cards with bad credit wired to a prepaid debit card
- Insurance Financial Producers Articles - A Superstar Success Story Cannot Teach Me Anything
- Three Quick Tips From the Canada Revenue Agency on Tax Filing
- How Crypto Loans Work
- 4 Reasons why it is Beneficial to make a Down Payment for your Car
- Is the Process of Buying a Car Worth your Time?
- How to Consolidate Credit Card Debt During Covid-19
- Conglomerate Merger: Pros & Cons
- Signs That You Are Doing Budgeting Wrong
- Car Title Loans and Other Options to Improve a Bad Credit Score
- Home Insurance Protects Your Home From Disasters
- Memphis Payday Loans Can Help When You’re in a Bind