If you are in default on your student loans, you cannot get new loans to go back to school, and you face severe collection procedures. Consolidation can give you a fresh start. You can consolidate defaulted student loans into a direct loan consolidation and stop collections including garnishments and tax intercepts. Be aware that if … Continue reading “Chance to use consolidation to get out of default”
Loan consolidation could help you reduce your monthly payments and pay down debt more quickly. But when debt consolidation becomes something that masks the underlying issue instead of fixing it, you could make things worse. All lenders usually promise lower monthly payments, lower interest rates and the convenience of a single payment. For many, however, … Continue reading “Reduce your monthly payments to pay down debt”
Loan consolidation is an effective option for anyone seeking a solution, no matter how big or small their debt amount is; secure a lower interest rate, secure a fixed interest rate, or consolidate debt for the benefit of servicing just one loan versus several. A loan consolidation allows a debt-ridden borrower to all of their … Continue reading “The opportunity to better manage your finances”
Before you start to consolidate your debts, you need to make sure that you truly understand the financial impact of loan consolidation. There are numerous companies offering various types of loan, and even overall debt consolidation as the one size fits all fix to every debtor’s worries. Student loan consolidation is being offered as the … Continue reading “Make sure that you understand the financial impact”
There may be an upfront fee to pay or an administrative or arrangement fees for processing the refinancing. Some banks also charge early repayment fees, while others do not; so shop around for the best deal. Remember, that a debt consolidation deal is sometimes a marketing trick to attract extra attention for a standard personal … Continue reading “Consolidation deal is sometimes a marketing trick”