Home     About Us    Contact Us     Contribute     Privacy
Investing
Stocks
Bonds
Mutual Funds
Biz
Credit
Career
College
Economics
Tax
More
 
 
Marketplace
Related Articles
More
Related Categories
Tip of the Day

Tip of the Day Get a Professional Certificate

Get a Professional Certificate - When you decide which profession you wish to enter, you should check first to see if your chosen field offers a certificate. If it does...

read entire tip

Related Podcasts
Recently Added
Other Great Sites
 

American Debt Consolidation

Ever looked into American debt consolidation? If you are constantly fielding calls from bill collector, this may be a good option for you. Debt consolidation loans and debt management have become very popular in the United States.

American debt consolidation depends on three different types of programs and loans – debt counseling, secured loans and unsecured loans for debt consolidation.

The first option is to go through the process of debt counseling. This program basically started at an American debt consolidation agency after bankruptcy rates hit the roof. In recent years, the American government needed to get consumers out of the habit of just jumping into bankruptcy court every time their debts got out of control.

Now, consumers have to go into debt counseling before they can file for bankruptcy. The way this works is the debt counseling agency collects all of your bills and contacts your creditors to work out new payment agreements that include settling balances, reducing interest rates and eliminating over limit and late fees. You pay the debt counseling group an account service fee and they manage your payments to the creditors. You make one payment to them and they handle the rest. This is a great option if you are not good at budgeting or making multiple payments, although you can do this program yourself.

The second option is the secured American debt consolidation loan. This loan uses the equity in your home to secure a consolidation loan for paying off your credit card debts. Your credit cards are consolidated into one loan at a fixed interest rate and a lower monthly payment.

The last option is the unsecured American debt consolidation loan. This loan is used in a very similar way as the secured option, but it is higher risk for the bank. You see, when you secure the loan with your home equity, the risk of the loan defaults to you. When the bank issues you an unsecured loan, they are taking the risk on the loan. But, they offset some of the risk by giving you a higher interest rate on the loan.

The best way to get an American debt consolidation loan is to check with a reputable financial advisor. Often, debt counseling firms are a great place to start. Always check with the Better Business Bureau before signing up with an American debt consolidation agency. 

Discuss It!

ColdFusion Help said:

Another great post, I appreciate all the work you put into this site, helping out others with your fun and creative works.

Content Writing Services said:

I have been meaning to write something like this on my website and you have given me an idea.

C# Homework Help said:

Very good brief and this post helped me a lot. Say thank you I searching for your facts.

Case Study Solutions said:

Extraordinary Post !! Extremely intriguing theme will bookmark your for visit again..nice post.......

Wahyu Wardani said:

I was very impressed with you. website you create highly qualified and highly original contents http://penyembuhankistatanpaoperasi.blogspot.co.id/2016/10/cara-ampuh-menyembuhkan-sakit-maag.html

Most Popular Articles
Most Popular Definitions
 
Daily Definition

Definition of the Day Black Tuesday

Black Tuesday - Black Tuesday took place on October 29 in the year 1929 and was probably the most famous stock market crash ever to be remembered in stock market history. On this day, the stock market's stocks lost 13 percent of their value and...

read entire definition

 
 

 

 

Home     About Us    Contact Us     Contribute     Sitemap

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Copyright © 2009 TeenAnalyst.com