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Tip of the Day Never Spend More Than 2 Times Your Income On A Home

Never Spend More Than 2 ? Times Your Income On A Home - Half the trick to buying a home is knowing what you can afford to spend...

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Debt Consolidation Interest Rates

There are numerous things you are not told regarding debt consolidation.  Some individuals find they are in a tougher situation after gaining a debt consolidation loan because of the details that are left out.  We have a few points for debt consolidation interest rates that can make the decision easier for obtaining a loan. 

Debt consolidation interest rates are not always low rates.  Depending on your debt situation you may see a rate of 18 percent.  You pose a high risk to the company, therefore they are asking for a little bit more from you.  You might have just said, “well, that is no better than my credit card APR.”  If you have said this, consider one thing. How many debts do you have, on an individual basis, which are at 18 percent?  If you have five credit cards that all offer you 18 percent does it not stand to reason that you are actually paying five times the consolidation loan?  The answer is yes.  You are paying on five cards at 18 percent rather than one loan. 

If figuring out if the debt consolidation interest rates are better than your current situation you have to use logic and calculators.  Tally up the amount you pay per month on your debts in their singular form.  In another column put the interest rates each of these debts are charging you and total that up.  Now look at the debt consolidation interest rates you have been quoted and the amount of the payment you will have. 

Are these amounts similar?  Are you paying $2000 a month for your current debts, and is that what you will pay on the debt consolidation loan?  Are the debt consolidation interest rates totaling the same amount?  Chances are they are not, because you have one APR not two or more.  The next area to consider is when the debt consolidation loan is due.  If you have to have the debt paid in five years, what would you have to pay to your five debts in that same amount of time?  Here is where you will see the savings in the debt consolidation interest rates. 

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Definition of the Day Dedicated Capital

Dedicated Capital - The least amount that a share of stock certificates sell, found in the regulations of the company issuing the stock certificates. The dedicated capital, know as par value will also be the initial price a stock is traded when introduced to the corporate world. The expectation is...

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