http://www.debtconsolidationexpert.com/debt-consolidation-loans.html Debt consolidation loans have helped millions of people. Can debt consolidation loans help you, too? en-us Sat, 26 Jul 2008 15:00:00 EDT Sat, 26 Jul 2008 15:00:00 EDT Weblog Editor 2.0 Many people in debt have not heard of debt consolidation loans, or else they aren't sure what debt consolidation loans are, which makes them hesitant. It's good to be hesitant, but it's also good to educate yourself about debt consolidation loans so you can at least make an informed decision. Debt Consolidation vs. Debt Consolidation Loans Debt consolidation and debt consolidation loans are two different things. Here we will attempt to clear things up a bit. Facts about debt consolidation: Debt consolidation involves an agent from a debt consolidation company contacting your creditors on your behalf to get you lower interest rates, lower monthly payments and in some cases, elimination of past late fees and over-the-limit fees (if that applies to you). Once the final amounts owed are agreed upon, the debt consolidation agent combines all of your creditors' payments together into one, and you make one monthly payment to the debt consolidation company each month instead of many payments to your creditors. The debt consolidation company distributes that payment among your creditors. The benefit is that because your interest rates are lower, more of your payment goes towards principal instead of interest. Therefore, your debt is paid off in about five years instead of the 18-20 it would take you otherwise if you continued to only pay the monthly minimum. Once the creditors are paid off, your debt consolidation agent will try to get your creditors to "re-age" your accounts if they are past due so your credit rating will improve. (This means they will be reported as current instead of late or past due.) Facts about debt consolidation loans: As the name implies, with a debt consolidation loan, an actual loan is made. A debt consolidation service will contact your creditors to try to get any past fees removed, then they will either pay off all your creditors or give you a check to pay them off, then you make one loan payment each month instead of several payments to your creditors. The benefit is that the interest rate on debt consolidation loans is usually a lot less than you would pay if you just continued to pay your monthly minimums. Because of this, more of your payment will go to principal instead of interest, and again, you will get your debt paid off much sooner. Other Options If you are a homeowner, you could look into debt consolidation mortgage loans for help. These types of loans involve you borrowing from the equity in your house to pay off your debts. The upside is lower interest, but you have to be careful of fees and points when the loan is originated. Sometimes these can end up costing as much as credit card interest. Also, your house is your collateral. If you don't think you can make the payment, you could lose your house. If you have student loan debt, student loan debt consolidation could benefit you greatly. Not only does this allow you to lock in at a much lower interest rate than the variable rate you're probably paying, but it also cuts your monthly payments by almost 50%. If you have bad credit, check into bad credit debt consolidation. Looking for loans on the cheap? Search the Internet for cheap debt consolidation loans. Debt consolidation goes by many names, but it's all basically the same. You can search the Internet using any of the following terms and get the same results: Credit card debt consolidation Consumer debt consolidation Personal debt consolidation Debt consolidation help Unsecured debt consolidation loans Christian debt consolidation loans Start your search today so you can be on the road to financial freedom! Sat, 26 Jul 2008 15:00:00 EDT http://www.debtconsolidationexpert.com/christian-debt-consolidation-loans.html Christian debt consolidation loans worked for Sir Edmund, and Christian debt consolidation loans can work for you too! en-us Sat, 26 Jul 2008 15:00:00 EDT Sat, 26 Jul 2008 15:00:00 EDT Weblog Editor 2.0 http://www.debtconsolidationexpert.com/unsecured-debt-consolidation-loans.html Unsecured debt consolidation loans can help you pay off your unsecured debts fast. Learn more about unsecured debt consolidation loans here. en-us Sat, 26 Jul 2008 15:00:00 EDT Sat, 26 Jul 2008 15:00:00 EDT Weblog Editor 2.0 http://www.debtconsolidationexpert.com/cheap-debt-consolidation-loans.html Cheap debt consolidation loans--they aren't necessarily better or worse than a regular debt consolidation loan. Learn more about cheap debt consolidation loans here. en-us Sat, 26 Jul 2008 15:00:00 EDT Sat, 26 Jul 2008 15:00:00 EDT Weblog Editor 2.0