Debt Consolidation Loans?

Julia G asked:


Can anyone comment on the use of Debt Consolidation Loans? I had a free consultation with a debt specialist through http://debtconsolidationloans.eoltt.com and they recommended a debt consolidation loan as one possible solution.

Clyde

Tags: Debt Consolidation Loan, Debt Loan, Debtconsolidationloans

This entry was posted on Friday, January 9th, 2009 at 1:07 am and is filed under Personal Finance. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

3 Responses to “Debt Consolidation Loans?”

1. John Bradley Says:
   January 10th, 2009 at 11:48 pm

   Whatever you do, DON’T pay off unsecured debt with secured debt (such as your home equity). If you loose your job or for whatever reason you don’t make payments, you may end up loosing your home, when before you wouldn’t have. If it’s unsecured to unsecured, then compare interest rates and terms. Look at it like a balance transfer between credit cards.

2. jwizzo25 Says:
   January 12th, 2009 at 9:11 pm

   Try using:

   I used their service a couple months back and they consolidated all my debt and lowered my total debt about 25%.

3. Sofia K Says:
   January 15th, 2009 at 12:18 am

   There are various debt consolidation programs, which gives you a lot of options. You could either select a paid service or go for the many free services available.

   A debt consolidation loan will help you to compact your monthly payments into a single, easy bill, while lowering your interest rates and letting you pay down your debts quicker.

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