Article

Latest News
Comment on Win a Free b iPod /b by Ryan- Sunday, October 28, 2007
win a b ipod /b really doing nothing NOT A SCAM What Do u got to lose read more...

b iPod /b Song Downloads Involve Plenty Of Fun- Sunday, October 28, 2007
Getting b iPod /b song downloads is always challenging, as there are hundreds read more...

This is an ad produced by a student for the b iPod /b Touch. It has b ... /b- Sunday, October 28, 2007
This is an ad produced by a student for the b iPod /b Touch. It has prompted read more...


Latest Articles
Myspace Backgrounds
Time to get started on this topic. Take a few moments to read every aspect ...more

Blog Myspace
I hope that the following article will help you to better understand this ...more

LG shine: accentuate your lifestyle
Why mobile phones have once again become a status symbol? Its not hard to ...more

Consolidate Debt Carefully by Joseph Then



When you are looking to consolidate debt you must be careful what moves you make to do this or you can get yourself in even bigger trouble. Do not get yourself talked into taking another loan to pay off the money you already owe.

If you are able to get one based on your present difficulties you will only find yourself paying interest on top of interest by using this method. The same goes for your idea to take a second mortgage on your house to help you consolidate debt and pay it all off at once. Your home should be the most prized thing you own and so the last thing you want to do is encumber it with more debt. Interest rates on second mortgages will be much steeper than what you are paying for your first mortgage. Some of the services that help to consolidate debt may suggest that instead you try to borrow against your retirement fund. A retirement loan does not need a credit check so it is an easy loan for you to get. It also comes with a low interest rate. These two things certainly make it an easy option in the process to consolidate debt. You will be able to get a fixed interest on a loan that will likely be for five years. That should make it easy for you to pay off.

So, by using your retirement fund to consolidate debt you will pay off what you owe all at once. It is a great idea, right? Not necessarily. This can be a risky practice if you are concerned about being able to pay off the money your have just borrowed. A retirement fund is supposed to be there for your future. Borrowing against it puts that money at risk.

Either of these solutions can be potentially dangerous ways to deal with your need to consolidate debt. You should not risk or home or your retirement fund. Since you also do not want to risk bankruptcy what you really need is to find a way to work on a better payment plan for you to pay off your debts.

Many people will turn to debt consolidation companies to negotiate with creditors and then to manage their monthly payment issues. This can be a good solution but even this plan can have problems. These companies are popping up all over the country and not all of them are honest. Many of these companies have been involved in dishonest activities with their customer's money. Before deciding on one of them investigate them thoroughly. Check with the Better Business Bureau. Make sure that when you consolidate debt you aren't simply finding more trouble.

About the Author:
Joseph Then give sound advise on personal finance. Find out how you can remove and manage debt consolidation today. Receive FREE information right now at: Bad Credit and Personal Finance Management


Other articles by Joseph Then



Buying e-Books on eBay
eBay is the world's online marketplace, that enables a diverse and passionate community of individuals and small businesses to trade on a local, national and international basis. Founded in September 1995, eBay provides a platform for the sale of goods and services to more than 135 million ...more

7 absolute ways to increase your online sales easily
Here are some of the most effective ways to increase your sales by at least 200%. They are applied in my businesses and I believe that they will be useful for you. 1) People have been taught all their lives to respect people in authority. Tell your visitors that you are the president or CEO of ...more

Consolidate Debt and Avoid Bankruptcy
Sometimes a person may get in over their head and find that they have spent more money they their monthly income will allow them to pay back. This can put them in a scary place financially. Wanting to avoid having to sell their home or vehicle, or to go bankrupt the answer is often to consolidate ...more