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Friday, August 12th
You may have heard about Debt Consolidation. In today's economic times, it seems like many people are trying to take out a loan, or consolidate the ones they have. But what is debt consolidation really? And how can it save you money?
What is debt consolidation?
Simply put, debt consolidation involves a loan you take out in order to pay off your unsecured bills, such as credit cards. It may seem strange to think, in order to pay off your loans sooner, you'll take out another loan - but it really can work! Let's examine how.
Loan Savings Calculator
To show you how much money you could save with debt consolidation, we've put together a simple calculator. In our initial example, This person has:
You can see that with a consolidated loan of 13.9%, they will save more than $30,000 over the life of their loan! Feel free to change the values to match your financial situation.
How can a debt consolidation company save you money?
Specifically, a Debt Consolidation Company can help save you money by:
Nothing to lose
Of course, your actual savings will be dependent on your financial condition and the quality of the debt consolidation company you choose to work with. Since most reputable companies have a free initial consultation, you really have nothing to lose!
Select any 2 Debt Consolidation Companies to compare them head to head
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Fri, 12 Aug 2022