Consolidating debt best rates
Personal is not a lender — it works as a network to connect consumers “seeking fast, hassle-free financial assistance with skilled, reputable lenders can who can provide it.” This effectively eliminates the need to complete multiple loan applications.
Bad Credit truly advocates for the poor credit borrower, as their site provides information and resources that help consumers improve their credit and financial standings.
While this will mean he’ll pay more interest in the long run, it may help him better manage his payments in the short term, helping to prevent missed payments or even default.
Credit cards and other high-interest unsecured debt (debt not backed by collateral) are the main reasons many people consider debt consolidation.
At the very least, Pete could lower his monthly payments by getting a new loan with a longer term length — up to 30 years in some cases.
Her straining pocketbook held the financial equivalent of a Baskin Robbins — it looked like she had an entire 31-flavor buffet of credit cards.
Though this woman may be an extreme example, most of us do tend to have a variety of credit lines at any given time — usually a combination of installment loans (mortgages, student loans, auto loans, etc.) and credit cards.
For example, let’s look at our hypothetical friend, Pete.
Our friend Pete has a total of ,000 of debt, spread across four accounts, like so: Not only does each of Pete’s debts have a different lender, but they all have different interest rates — some of them quite high.