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Knowledge base on
debt consolidation for student credit cards
Benefits of a Debt Consolidation Loan
There are many benefits in choosing a Debt Consolidation Loan, some of which are listed below:
May be able to reduce your monthly payments.
Can take off some of the pressure you may be under from your existing creditors.
You will have only one creditor to deal with.
Lower monthly repayments than unsecured loans
Ability to borrow more money over a longer period of time.
If you find that you are unable to meet your monthly repayments to your creditors, one option is to apply for a debt consolidation loan. The principle behind these is fairly simple - you borrow a large lump sum to repay your creditors and are then left with one creditor and one monthly repayment. This monthly repayment may be lower than the sum you are currently paying, however, you will continue making the repayments for a much longer period.
If your objective is to reduce interest rates and lower your monthly payments, avoid bankruptcy, consolidate your bills and have one monthly payment, or simply get out of debt the fastest way possible, then a debt consolidation loan could provide the answer.
Debt consolidation loans can give you a fresh start, allowing you to consolidate all of your loans into one - giving you one easy to manage payment, and in most cases, at a lower rate of interest.
With a Debt Consolidation Loan you can borrow from 5,000 to 75,000 and up to 125% of your property value in some cases.
A Debt Consolidation Loan is a low cost loan secured on your home. It frees up the spare capital (or equity) in your home to repay your store card and other debts.
There are also disadvantages to a debt consolidation loan such as:
Can pay more over a longer period.
May incur additional costs for setting up the loan.
If secured, your property may be at risk.
You will be left with only one creditor - this can make it difficult to negotiate should you have further problems in repaying your loan.
If the loans you are consolidating have all the interest added at the start you may in effect be paying interest twice. The interest charged for the first loan and the interest charged for the consolidation.
John Mussi is the founder of Direct Online Loans who help UK homeowners find the best available loans via the www.directonlineloans.co.uk website.
More Useful Resource and Updates on debt consolidation for student credit cards
- Gevity Reports Third Quarter 2008 Operating Results (GlobeNewswire via Yahoo! Finance)
BRADENTON, Fla., Nov. 5, 2008 -- Gevity , which serves as the full-service human resources department for small- and mid-sized businesses, today reported a third quarter 2008 loss from continuing operations of $1.8 million, or $0.07 per share, as compared to income from continuing operations of $2.0 million, or $0.08 per diluted share, for the second quarter of 2008.
- Economics can open to new realities (Asia Times)
The power to become habituated to his surroundings is a marked characteristic of mankind. Very few of us realize with conviction the intensely unusual, unstable, complicated, unreliable, temporary nature of the economic organization by which Western Europe has lived for the last half century.
- Loans to clear debt need willpower (The Morning Call)
Dear Bruce: You have written in your column many times that you feel home-equity loans are a bad idea for debt consolidation. I see a lot of advertisements out there for companies promising to help people get out of debt. With a current income of $35,000, I have $17,000 in credit card debt and I am having difficulty meeting my monthly payments.
- Beware Of Zombie Debt Collectors (Forbes)
Don't let debt collectors chase you down for money you no longer owe. Here's how to fight them off.
- Career Education Corporation Reports Results for Third Quarter 2008 (Centre Daily Times)
Career Education Corporation (NASDAQ: CECO) today reported total revenue of $405.6 million and a net loss of ($0.1) million, or $0.00 per diluted share, during the third quarter of 2008 compared to total revenue of $427.2 million and net income of $15.6 million, or $0.17 per diluted share, during the third quarter of 2007.
- LI car dealers hurting as slowdown continues (Newsday)
T he nation's new-car market is in the breakdown lane, and Long Island's is sputtering badly as the financial meltdown, credit crunch and weakening economy arrive at the glass front doors of car dealerships.
- (AFX UK Focus) 2008-11-05 14:43 UPDATE 1-Spanish bank profits to be hit by bad debt -cenbank (Interactive Investor)
By Andrew Hay
- Kingsway Reports Net Loss of $17.4 million in the Third Quarter (PR Newswire via Yahoo! Finance)
Kingsway Financial Services Inc. today announced its financial results for the third quarter and nine months ended September 30, 2008. The Company reported a net loss of $17.4 million or $0.32 per share diluted, primarily reflecting disappointing underwriting results and net realized losses, including the write-down of investments, which were partially offset by the gain on the sale of York ...
- Eagle Rock Energy Partners, L.P. Reports Record Third Quarter 2008 Results; Adjusted EBITDA of $75.5 million, Up 31.3% ... (wallstreet:online AG)
Eagle Rock Energy Partners, L.P. ("Eagle Rock" or the "Partnership") (NASDAQ:EROC)
- Debt Consolidation Care
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... Loan Consolidation, Student Debt Consolidation, Consolidate Credit Card Debt. ... For recent graduates, the major areas of debt are student loans and credit cards. ...
- Knee Deep in Debt - Federal Trade Commission
Facts for consumers about debt issues from the FTC. Covers credit counseling and bankruptcty along with debt consolidation, management, and negotiation.
- OSU College of Medicine Student Forums - Credit card debt consolidation!
OSU College of Medicine Student Council Forums. Classifieds. Credit card debt consolidation! ... Debt consolidation credit counseling giving free credit ...
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