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Posted by / 17-Feb-2017 20:07

Consolidating debt a good

If that’s not bad enough, you’ll end up shelling out ,080 to pay off the new loan versus ,392 for the original loans—even with the lower interest rate of 9%.

This means your "lower payment" has cost ,688 more.

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.

Two words for you: , although often the terms are used interchangeably.

Get the facts before you consolidate or work with a settlement company.Something has to change, and you’re considering debt consolidation because of the allure of one easy payment and the promise of lower interest rates.The truth is debt consolidation loans and debt settlement companies don’t help you slay mammoth amounts of debt.You don’t need to consolidate your bills—you need to delete them.To do that, you have to change the way you view debt!

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But let’s be honest: Your interest rate isn’t the main problem. This specifically applies to consolidating debt through credit card balance transfers.