Home     About Us    Contact Us     Contribute     Privacy
Mutual Funds
Related Articles
Related Definitions
Related Categories
Tip of the Day

Tip of the Day If You Don't Understand How An Investment Works, Don't Buy It

If You Don't Understand How An Investment Works, Don't Buy It - One of the most common mistakes made by people is buying things that they don't understand, and that...

read entire tip

Related Podcasts
Recently Added
Other Great Sites

Are Debt Consolidation Loans A Good Idea

Are you looking for an answer to your debt issues?  There are times where you want all of your debts to go away, but you’re unsure if the answer is another line of credit.  You might even be asking are debt consolidation loans a good idea?  There are a couple of ways to answer this question.  The first is what situation are you in right now?  If you are in a situation where your debts are comfortable but you wish to pay the debts off you might consider looking at a loan.  A loan can consolidate your debts into one making the payments easier, but you have to consider the type of loan.  Are consolidation loans a good idea- will you be getting a secured or unsecured loan?

If you can obtain a secured loan through a home equity or refinanced mortgage as a consolidation loan the answer is yes to the question are consolidation loans a good idea.  A secured loan has a significantly lower interest rate than an unsecured line of credit.  The downside is that you may not be able to obtain the secured loan if you have already pulled out the equity in your home or have less than stellar credit.  If your credit scores are low the answer could be no to are consolidation loans a good idea. 

This is where you have to really consider the situation you are in.  An unsecured loan can be just as much as your interest rates on your other debts.  In one loan you may have 18 percent interest.  Of course if you have five debts at 18 percent you are saving with one loan.  In this case the unsecured loan would still be a good idea unless the terms are not favorable.  It may be they want payments too much per month.  Only you can answer are consolidation loans a good idea because the interest rate is not the only consideration you have to make.  You need to also make sure the monthly payment will work for you.  If not it could make your situation worse. 

Discuss It!

cheap dissertation said:

This seems to be a very helpful link for students who want to save money while studying and get done with their debts

Beetroot said:

I have read your article, it is very informative and helpful for me.I admire the valuable information you offer in your articles. Thanks for posting it..

Taro Root said:

I liked your article and I hope you will have many entries or more

Maca Root said:

I really appreciate the kind of topics you post here. Thanks for sharing us a great information that is actually helpful. Good day!

Lotus Root said:

I think about it is most required for making more on this get engaged

Valerian Root said:

This is also a very good post which I really enjoy reading. It is not everyday that I have the possibility to see something like this.

Licorice Root said:

This is truly an practical and pleasant information for all. Thanks for sharing this to us and more power

Cassava said:

I think about it is most required for making more on this get engaged

Arrowroot said:

This website and I conceive this internet site is really informative ! Keep on putting up!

Jonathon Karelse said:

Business forecasting is a fundamental part of every business. See the full interview of Jonathon Karelse base on Business Forecasting and Supply Chain Management.

fast essay help said:

I belive that getting the loans were th best idea possible on this case

Most Popular Articles
Most Popular Definitions
Daily Definition

Definition of the Day Employee Stock Ownership Plan

Employee Stock Ownership Plan - an Employee stock ownership plan is a trust by a corporation to its employees. It is a plan to make the employees part owners of the company by allowing them to purchase shares of the company. Contributions are made by the employee to the...

read entire definition




Home     About Us    Contact Us     Contribute     Sitemap


Copyright © 2009 TeenAnalyst.com