|
|
For those who are trying to get out from under their credit card debts, one of the worst things they can do is to use a debt consolidation loan. Unscrupulous people will sometimes offer these loans to people with the promise that they can get out from under their debts, but the loans often have higher interest rates than the credit cards, costing consumers more money in the long run. Related articles on this topic are also available on the NewsTarget Network, including: Credit card debt is often a result of costly food and grocery purchasing habits.
Overview:
- Q: My oldest daughter is in tears about her debt problem.
- Are there any persons or groups that will advise her on the best plan for consolidating debts?
- She has tried calling a few so-called "consolidators" but they always charge high "fees" for any service or require her to sign up for loans with them first.
- Are there any community, state or federal places to find answers free?
- A: I'm truly sorry about you daughter's struggles.
- You are right to be wary about debt consolidation loans.
- Unscrupulous lenders prey on people overwhelmed by debts by duping them into a loan that actually end up costing them more than they were paying in the first place because of hidden loan repayment fees and other costs.
- There are a couple of places locally where you can turn for no-cost or low-cost help and advice on getting out of debt.
- The agency will waive the fee for people who truly can't afford it.
- Consumer Credit Counseling Services also offer free counseling sessions that include the basics on reducing debt.
- These agencies will work up a debt repayment plan designed to retire debts in five years or less.
articles
1 |
2 |
3 |
4 |
5 |
6 |
7
|
