Consolidating debt without reuning your credit

But let’s be honest: Your interest rate isn’t the main problem. This specifically applies to consolidating debt through credit card balance transfers.The enticingly low interest rate is usually an introductory promotion and applies for a certain period of time only. Be on guard for “special” low-interest deals before or after the holidays.Here are the top things you need to know before you consolidate your debt: But here’s the deal: Debt consolidation promises one thing but delivers another.

And now the total loan amount would jump to $37,103.

So, that means you shelled out $2,282 , although often the terms are used interchangeably.

The solution requires you to roll up your sleeves, make a plan for your money, and take action!

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To do that, you have to change the way you view debt!

Dave says, "Personal finance is 80% behavior and only 20% head knowledge." Even though your choices landed you in a pile of debt, you have the power to work your way out! The solution isn’t a quick fix, and it won’t come in the form of a better interest rate, another loan or debt settlement.

Debt settlement companies also charge a fee for their "service." Often, the fee is anywhere from 15–20% of your debt.

Think about it this way: If you owe ,000, your settlement fees would range from ,500–10,000.

Once their fee is accounted for, they promise to negotiate with your creditors and settle your debts. Well, the debt settlement companies usually don’t deliver on helping you with your debt after they take your money.

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