Home - Mortgage Loans | Personal Loans | Bad Debt Loans | Foreclosure Loans
Apply for a Loan | Best Auto Loans | Best Bad Credit Auto Loans | Best Bad Credit Loans | Best Bill Consolidation Loans | Best Cash Advance Loans | Best Credit Cards | Best Credit Repair Tips | Best Debt Consolidation Loans | Best Free Credit Reporting Tips | Best Home Equity Loans | Best Mortgage Loans | Best Pay Day Loans | Best Personal Loans | Best Products on the Internet | Best Unsecured Loans
Great Financial Advice
Apply for a Loan
Latest Financial News
Rate Lock Advisory
Best Products
Join Our Mailing List
Contact Us
Loan Articles Index
Auto Loans
Bad Credit Auto Loans
Bad Credit Loans
Bill Consolidation Loans
Cash Advance Loans
Credit Cards
Credit Repair Tips
Debt Consolidation Loans
Debt Reduction Loans
Foreclosure Loans
Free Credit Reporting Tips
High Risk Loans
Home Equity Loans
Home Loans
Lawsuit Loans
Mortgage Loans
Pay Day Loans
Personal Loans
Products on the Internet
Real Estate Services
UK loans
Unsecured Loans
Loan Article Index
Loan Articles A-G
Loan Articles H-Q
Loan Articles R-Z
Mortgage Calculators
Mortgage Calculator
Mortgage Amortization Calculator
Rent vs. Buy Calculator
How Much Can I Afford Calculator
Auto Payment Calculator
Click here to Sign up for Email and Newsletter


redhotloantips fat loss

What Is A Debt Consolidation Loan

Written by: Craig Thornburrow

Debt consolidation loans are an increasingly popular form of debt re-payment for those who find themselves unable to pay off even the minimum payments on credit cards every month.

What is Debt Consolidation?

Everyone knows what debt is; it's the amount of bills that are left over at the end of every month after you've paid everything you can. For some of us, that number is a significant one. It seems that you will never be able to pay it off - especially as new bills add to it every month.

Debt consolidation is when you take all of these bills and add them together to create one big bill. This new, big bill is your consolidated debt. When you consolidate your debt, you will generally stop adding to the debt total with interest charges and, most likely, you will be able to negotiate a lower bill total with each individual creditor. They would rather get, for example, half of what you owe them than nothing at all. Debt consolidation benefits everyone involved.

What Is A Debt Consolidation Loan?

A debt consolidation loan is exactly what it sounds like - a loan that you take out to pay off the total of your consolidated debt. After you have combined all your debt into one sum total, negotiated with the creditors to lower that total and knock off the interest charges, you will come up with one monthly payment that makes sense. Sometimes, this monthly payment is still too large a chunk to handle, especially as costs associated with living continue to pile up everyday. The solution to this problem is a debt consolidation loan.

With a debt consolidation loan, you can pay off your entire debt with one big payment then create a smaller, more manageable payment plan with the company who gave you the loan. This loan payment will have interest charges built in and will most likely take much longer to pay off than if you simply paid off your consolidated debt. The benefit is that your monthly payment will be something that you will actually be able to pay rather than one more bill that will end up in the 'unpaid' pile each month.

Check out your options thoroughly before choosing a debt consolidation loan provider. Make sure you get the best rate possible. Just like a credit card, it's important to check out the fine print before you sign up for any debt consolidation loan.

About the author:

Craig Thornburrow is an Author and Business Owner. You can find out much more about Debt Consolidation Loans at www.availablehere.biz/debt

Other Related Articles:

Shopping for a Personal Loan to Suit Your Finances
Just as one would shop around for the right automobile to suit your taste and financial style, the same is true in shopping for a personal loan. If youíre thinking about taking out a personal loan, itís important to make sure it matches your...read more

Where to Look for Quick Loans
Quick loans can be just the thing if you're looking for the money that you need as quickly as possible... unfortunately, many people don't know where to look for quick loans. For the most part, individuals who are seeking a loan will go to their...read more

Debt Consolidation Mortgage Loan - Pros And Cons
Debt consolidation mortgage loans can help you lower your interest rates and monthly payments. With reduced rates, you can also pay off your debt sooner. However, reducing your equity could subject you to private mortgage rates. You may also end...read more

Return to Home


Best Auto Loans, Best Bad Credit Auto Loans, Best Bad Credit Loans, Best Bill Consolidation Loans, Best Cash Advance Loans, Best Credit Cards, Best Credit Repair Tips, Best Debt Consolidation Loans, Best Debt Reduction Loans, Best Foreclosure Loans, Best Free Credit Reporting Tips, Best High Risk Loans, Best Home Equity Loans, Best Home Loans, Best Lawsuit Loans, Best Mortgage Loans, Best Pay Day Loans, Best Personal Loans, Best Products on the Internet, Best Real Estate Services, Best UK loans, Best Unsecured Loans
Subscribe to Mailing List | Private Policy | Unsubscribe | Site Map