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http://www.newhorizon.org/Info/debtconsolidation.htm - What are the advantages and disadvantages of debt consolidation services? Getting over debts can be a tough challenge. Some people try to resolve bad credit on their own while others seek professional help. Contact Us! - http://www.newhorizon.org/NHBS/ Email us at [email protected] Toll Free Phone no. (888) 778-5677 - PowerPoint PPT Presentation
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Advantages and
Disadvantages of Debt
Consolidation Services
Advantages of Debt
Consolidation Services
Advantages and
Disadvantages of Debt
Consolidation Services
# By combining all your debts into a single account it becomes easier for you to remember your due dates and track your payments.
# There is no need to juggle your payments between different creditors.
# Debt consolidation also means paying only a single interest at a much lower cost.
Advantages and
Disadvantages of Debt
Consolidation Services
Through debt consolidation, it is possible to:
• slash off a significant amount of fees from your total debts.
• you can pay off all your creditors at once and stop your debts from accumulating
• Most creditors are even willing to make adjustments to make repayment easier for their clients
Advantages and
Disadvantages of Debt
Consolidation Services
Here are Disadvantages of
Debt Consolidation
Services:
Advantages and
Disadvantages of Debt
Consolidation Services
• signing up with the wrong debt consolidation company can only make matters worse for someone in debt.
Advantages and
Disadvantages of Debt
Consolidation Services
• not all credit counseling agencies or debt consolidation companies have your best interests at heart.
Advantages and
Disadvantages of Debt
Consolidation Services
• There are agencies offering counseling services that are actually designed to take advantage of your financial situation.
Advantages and
Disadvantages of Debt
Consolidation Services
• if you do decide to sign up for counseling or a debt consolidation program, it is crucial to do extensive research first before making a choice.
Advantages and
Disadvantages of Debt
Consolidation Services
• Another risk about consolidation is the tendency to incur new debts right in the middle of repayment.
Advantages and
Disadvantages of Debt
Consolidation Services
• Remember that consolidating your debts does not exempt you from your obligation to pay.
Advantages and
Disadvantages of Debt
Consolidation Services
• You still need to keep up with your monthly consolidation payment to your lender. Unfortunately, some people found themselves stuck in new debts while still in the middle of their consolidation loan repayments.
Advantages and
Disadvantages of Debt
Consolidation Services
• Instead of being free, these people have only added a heavier burden on their shoulders.
Advantages and
Disadvantages of Debt
Consolidation Services
How to Make Debt Consolidation Work
• After consolidating your debts, you should avoid incurring new debts from your creditors so that you can focus on paying off your loan.
• Pay attention to your spending and lifestyle.
Advantages and
Disadvantages of Debt
Consolidation Services
• create a monthly budget plan to make sure that your income would be properly allocated.
• Bear in mind that your number one priority should be COMPLETING your consolidation loan payments at the soonest possible time.
Advantages and
Disadvantages of Debt
Consolidation Services
For more info about debt consolidation visit:
http://www.newhorizon.org/Info/debtconsolidation.htm
Advantages and
Disadvantages of Debt
Consolidation Services
Connect Us by clicking your favorite icons below:
Toll Free Phone no. (888) 778-5677