Consolidating your bills good idea

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One option for those in debt is a debt consolidation loan.With this option, you’d take out a single loan to replace multiple bills.This is especially true for those with a high debt-to-income ratio, or the percentage of their income that is used to pay debt. If you walk in an have a relatively small amount of debt and a high income, chances are good you’ll be able to pay your loan on schedule.On the other hand, if your current monthly debt payments total

One option for those in debt is a debt consolidation loan.With this option, you’d take out a single loan to replace multiple bills.This is especially true for those with a high debt-to-income ratio, or the percentage of their income that is used to pay debt. If you walk in an have a relatively small amount of debt and a high income, chances are good you’ll be able to pay your loan on schedule.On the other hand, if your current monthly debt payments total $1,500 and you bring home $2,500 a month, you’re in a very tight financial situation.And each of these options comes with pros and cons. You won’t need to borrow against any collateral like your home, but you will probably pay more in interest.Perhaps a Homeowner Consolidation loan is the way to go instead?Your home isn’t used as collateral, the application process is faster than for a home equity loan and the rate is usually lower than for a personal loan. You don’t have to have to wade through all the options and benefits by yourself. You’ve defined your goals and determined your best loan option.

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One option for those in debt is a debt consolidation loan.

With this option, you’d take out a single loan to replace multiple bills.

,500 and you bring home ,500 a month, you’re in a very tight financial situation.And each of these options comes with pros and cons. You won’t need to borrow against any collateral like your home, but you will probably pay more in interest.Perhaps a Homeowner Consolidation loan is the way to go instead?Your home isn’t used as collateral, the application process is faster than for a home equity loan and the rate is usually lower than for a personal loan. You don’t have to have to wade through all the options and benefits by yourself. You’ve defined your goals and determined your best loan option.

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Nobody likes managing bills – at least if they’re not getting paid an accountant’s salary.According to the Federal Reserve Bank of Philadelphia, consumers held a whopping .7 trillion in debt as of the second half of 2012.Within that, the average household with credit card debt owes nearly ,000, according to Credit ” Do you want lower monthly payments, to pay less in interest, reduce the number of bills you pay each month for less confusion; or maybe you’re thinking ahead to retirement and want an easy way to pay off your debt before that time comes?Partnering with a trusted financial partner can help you ask yourself those questions, and also help you plan ahead to ensure you’re successful.

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