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Heri Elvin Cliver
The multiple options available to consolidate ones debts can be quite confusing, credit counseling programs, debt settlement, debt consolidation loans, bankruptcy are just a few options available today. Trying to find the best option to suit your current financial situation can be a difficult task. Consolidating all your debt into one monthly bill may seem like a great way to take control of your debt, it can reduce your debt by 40-60% of the current total. But you must be very careful. There is a very high chance that you could end up in even deeper debt!. Debt consolidation can simply be from a number of unsecured loans into another unsecured loan, but more often it involves a secured loan against an asset that serves as collateral, most commonly a house. In this case, a mortgage is secured against the house. So you have to choose trusted company that offer debt consolidation programs.
There are other alternatives to a debt consolidation loan, where unsecured debt is not "shifted" to secured debt, but is eliminated through a settlement or payment plan. Debt Settlement is the fastest and least expensive option to get out of debt without filing bankruptcy. Debt Settlement also known as Debt Negotiation is the most cost-effective option to pay off your debts and relieve you of having to file bankruptcy. Debt Settlement is a proactive approach for debtors experiencing the stress of to much debt.
You also can consolidate your credit card with Credit Card Debt Consolidation Programs. For years, card issuers have spent billions of marketing dollars inundating us with “pre-approved” offers for credit cards with low rates, mileage, bonus points and other attractive perks. Many cardholders are overspending; others have found themselves caught in a predicament that requires them to use their credit cards to make ends meet.
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