A debt consolidation loan is typically a lower interest loan used to pay off higher interest debts. Those struggling with debt may want to consider one.
That company is not the only company who deceived consumers. There are many and you need to be on the lookout for them. All that being said, states are addressing the growing problem of debt consolidation scams and unscrupulous companies. For example, the Nonprofit Credit Counseling Act, enacte...
Some involve loan consolidation or refinance, where multiple loans are combined into a single loan with a lower interest rate and lower payment. Some involve loan forgiveness or loan discharge, where the remaining debt is canceled. Some require you to make a lump sum payment in exchange for ...
Shocking Facts - Debt Consolidation Loans and ScamsTom Bates,CDA
While some debt consolidation companies are reputable, there are also a ton ofdebt consolidation scamsout there. If you decide to pursue this option, be very careful. Do your research, ask a lot of questions, and always trust your gut. ...
The Public Service Loan Forgiveness (PSLF) program: PSLF can help you reduce student loans. If you are employed by a U.S. federal, state, local or tribal government or not-for-profit organization, you might be eligible for it. AboutAditya Raghunath ...
Some debt relief programs will require you to get a debt consolidation loan or to own a home. Other programs and debt relief companies will require you to establish a debt management plan or seek the assistance of a debt settlement company or a credit counseling agency. Every debt relief plan...
such as income-driven repayment plans. Some involve loan consolidation or refinance, where multiple loans are combined into a single loan with a lower interest rate and lower payment. Some involve loan forgiveness or loan discharge, where the remaining debt is canceled. Some require you to make ...
When you use a debt consolidation company, look for signs of scams, as this industry attracts fraudsters. Signs of a scam may include a lack of communication, high fees that are requested before service, and calls for you to stop paying creditors. If you feel like a debt consolid...
this is done through adebt consolidation loan. For example, if you owe a total of $10,000 on four credit cards you might get a $10,000 debt consolidation loan to pay them all off. Now you have just one payment to make each month—and ideally at a much lower interest rate. ...