Get out debt without consolidating
You don’t need debt rearrangement—you need debt reformation.
Most of the time, after someone consolidates their debt, the debt grows back. They don’t have a game plan to pay cash and spend less.
Get the facts before you consolidate your debt or work with a settlement company.
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.
Join our live video chat every Tuesday and Thursday at p.m. Rod Griffin, Director of Public Education at Experian, is available to answer your questions live.
You’re in deep with credit cards, student loan payments and car loans.
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.
Some companies know holiday shoppers who don’t stick to a budget tend to overspend then panic when the bills start coming in.
Before agreeing to a "debt consolidation plan" be sure you understand what is actually being described and what the impact will be on your credit.Let’s say you have ,000 in unsecured debt—think credit cards, car loans and medical bills.The debt includes a two-year loan for ,000 at 12% and a four-year loan for ,000 at 10%.The term "consolidation" is used to describe two very different credit-related services.The first type of consolidation is a debt consolidation loan.
And other loan companies will hook you with a low interest rate then inflate the interest rate over time, leaving you with more debt! Your goal should be to get out of debt as fast as you can!