Card consolidating consolidation credit credit debt loan
Card consolidating consolidation credit credit debt loan - saying not that intimidating
This may seem like a contradiction to what’s been mentioned previously in this article but it’s important to present a balanced view including both pros and cons.
You need to ask yourself whether the debt problem you’re trying to address is likely to be permanent or temporary.If you believe the debt issue is likely to be temporary because the circumstances about it are not likely to be lasting, then some short term financial hardship may well provide an adequate remedy.On the other hand, if your circumstances are not short term and your financial situation is dire and unlikely to change in the short term, not only is a debt consolidation loan probably not the right way to go but short term financial relief is unlikely to provide any long term benefit.Nowadays, since the introduction of the new comprehensive credit reporting regime, potential credit providers can assess your loan application relying upon more detailed information about the way your manage your finances and your repayment history for the past 24 months.This means that if you have a number of debts and you are finding it difficult to manage all the debt and consequently pay your bills late, this will more than likely affect your credit reputation and your ability to obtain a loan.At Debt Fix, we know everyone's situation is different and we understand that there is no “one size fits all” solution when it comes to managing debt.
For this reason, we present affordable options specifically tailored to suit your situation.
One of the biggest mistakes that people make is assuming a consolidation loan will be cheaper.
This is not always the case and interest rates will vary depending on your credit reputation and the lenders assessment of your application.
Simply put, it brings a number of debts into one easy payment.
It makes sense that it would be easier to deal with one debt instead of many.
The new laws mean that potential credit providers now have access to more comprehensive information about your level of indebtedness and more specifically, the way you manage your debt.