Friday, August 24, 2007

Elating The Mask On Debt Consolidation

If you’re just living paycheck to paycheck, paying the minimum due on your credit cards, debt consolidation may be the boon for you. Debt consolidation loans are personal loans that allow you to combine many debts into one monthly payment. Your monthly payment will be smaller than the total amount you were paying before. However, it will take longer to pay off all the debts. The interest rates may be high, depending on your past credit history. There are two types of personal debt consolidation loans, secured and unsecured. An unsecured loan is basically just a promise to pay back the money borrowed. A secured loan means you put up something for collateral. If you don’t pay back the money, the lender can repossess that collateral. For instance, if you put your ho View the rest of this article

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