Let us create a 3D eBook for you!
Let us create a 3d Digital eBook for you! DigyCat.com

Is A Debt Consolidation Loan Your Best Option?


For many people the lure of easy credit has taken them into the forbidden zone of debt. Between debt on regular credit cards, shopping store credit cards, home equity lines of credit, mortgages and car payments it's no wonder consumers are finding themselves financially and emotionally drained as they float in a sea of debt.

At a time like this with debt continuing to mount the decision to use a debt consolidation loan may seem like the smart thing to do - or is it? Certainly the top financial priority should be to pay off all outstanding debt. Unfortunately figuring out how to do this and which debt to pay off first can be difficult at best and even lead to more financially related stress.

This dilemma is common among consumers struggling to eliminate debt in order to regain their financial sanity. A debt consolidation loan can be an easy answer to solve the current financial strain brought on by a large outstanding debt amount but it may not solve the long term issue. The reason is because many consumers obtain a debt consolidation loan and correctly use it to pay off their debt. Unfortunatly suddenly feeling good about their new found financial strength they make the mistake of using their credit cards again and again and again - essentially repeating the blunders that got them into trouble in the first place. Compound that with the fact that they now also must pay off teh debt consolidation loan they orginally got in order to relieve them of their initial financial burdens. This is a classic example of where using a debt consolidation loan could lead to more harm then good.

A better option would be to pay off their credit cards one at a time starting with the card that currently has the biggest balance while paying the minimum amount neccessary to all other cards. Any extra money should be devoted to paying off the card with the highest balance first. Once that first credit card is paid off then move onto the card with the next highest balance. Repeat this process until all credit cards are fully paid off then put all but one in a drawer for safe keeping. Only keep the one card handy for emergency purposes. Now concentrate all money that was previous earmarked as credit card payments towards paying off other bills - perhaps a car or house payment. This option will only work so long as the original credit cards are not charged back up again.

If a consumer has financial strength then a debt consolidation loan can be beneficial for a number of reasons. First it eliminates trying to juggle numerous bills in various amounts all at once and instead allows a consumer to focus on paying one large bill. This saves time, energy and helps to prevent accidently forgetting to pay one of the many prvious bills which could lead to more financial charges and stress. The second reason is that a debt consolidation loan should lower the actual amount of money paid out each month. NOTE - it may lower the monthly amount but will most likely increase the oerall amount needed to finally pay off all of teh combined bills depending on the terms of the loan contract. Finally it can provide a psychological boost by relieving an individual of many small bills in order to concentrate on one larger bill.

Ultimately the choice as the whether a debt consolidation loan is the right answer lies with the consumer. Every situation is different and must be treated as such. No matter what option a consumer takes to eliminate debt if there is no financial resolve or strength then they will again fall into the debt trap.

Timothy Gorman provides more loan information and free loan quotes that you can research in your pajamas on his website: Military Loans Online.


MORE RESOURCES:

Copywriting - Google News

This RSS feed URL is deprecated

This RSS feed URL is deprecated, please update. New URLs can be found in the footers at https://news.google.com/news

Why South Korea's Biggest Auto Brand, Isn't Advertising Cars At Its ... - Forbes


Forbes

Why South Korea's Biggest Auto Brand, Isn't Advertising Cars At Its ...
Forbes
This year, consumers across South Korea (and parts of the U.S. and Europe) will finally be able to buy the Hyundai Nexo, the company's latest hydrogen fuel cell vehicle (FCEV) that also possesses some self-driving capabilities. But any of the Nexo's ...

and more »

The Wikipedia Test for Content Marketing - Business 2 Community


The Wikipedia Test for Content Marketing
Business 2 Community
Copywriters sometimes assume that customers already understand the product – but usually, they don't. Good content marketing educates the customer. To see the difference between “marketing fluff” and clear expository copywriting, compare a marketing ...

Geiger Marketing recognized - Lewiston Sun Journal


Lewiston Sun Journal

Geiger Marketing recognized
Lewiston Sun Journal
Geiger's marketing team, based in Lewiston, was presented with four Pyramid Awards at this year's Promotional Products Association International Expo in Las Vegas. The award-winning campaigns feature the effective use of promotional products, packaging ...

Build A Brand People Will Love With This One Trick - Forbes


Forbes

Build A Brand People Will Love With This One Trick
Forbes
To achieve this, according to copywriter Laura Belgray, you need to infuse your personality into your marketing. It's not enough to use traditional marketing to advertise your business. Don't expect your product to instantly draw undying interest and ...

Social Media Account Manager - Pedestrian TV


Pedestrian TV

Social Media Account Manager
Pedestrian TV
A boutique communications agency seeks a creative, enthusiastic and innovative professional to collaborate on social media campaigns and projects. This is a hybrid role providing hands-on experience and potential to grow with the business. We are ...

and more »

Copywriter - Pedestrian TV


Pedestrian TV

Copywriter
Pedestrian TV
A boutique communications agency seeks a copywriting professional with an interest in real estate, architecture and lifestyle content. This hybrid role includes preparing descriptive advertising copy for homes that will be sold by private sale and ...

Will Alexa be the saviour of the copywriting industry? - The Drum


The Drum

Will Alexa be the saviour of the copywriting industry?
The Drum
If that is really the case, it's going to be a boom time for experienced copywriters – a welcome development given the recent history of the industry. While the growth in content marketing created a greater demand for copywriters, the value of their ...

$600 Fraud? Fake ICO White Papers Are Drawing Scrutiny - CoinDesk


CoinDesk

$600 Fraud? Fake ICO White Papers Are Drawing Scrutiny
CoinDesk
Months after China's clampdown on initial coin offerings (ICOs), professional copywriters are still offering white paper services that may include fabricating information, reports suggest. The People's Bank of China notably banned domestic ICOs in ...

and more »

If you love words, you shouldn't hate a word count - The Drum


The Drum

If you love words, you shouldn't hate a word count
The Drum
Copywriters are no exception. Yes, a good portion of the day may be spent tossing out award-bait headlines from the languid sway of our office hammock. But the job isn't all inspiration naps and indoor smoking. Classified very much in the 'nuts and ...

LargeFriends.com - the best dating site for plus-sized singles!
SuccessfulMatchCentral.com - the best dating site for plus-sized singles!

PreLaunchX

PrimeNews Domain Is For Sale - $5,000 For Enquiries eMail Us

© www.PrimeNews.biz - 2012

home | site map | links