If you are an average person, probably have at least a credit card or two or three, plus one or two credits, which could well be one consumer and one mortgage products at the end of the month will be honored in due form or if not, will have to face the consequences that we talked about in previous post regarding your credit rating in the databases of the bureaus as Dicom.
Various debt agreements different period, different interest rate, together these factors mean a lot of money that could well be reduced if you consider the possibility of consolidating your debts.
Consolidation Loans For Bad Credit
Imagine a close to reality for some of us scenario: A VISA card limit of $ 1,000.00, to an interest rate of 38% per annum with a minimum payment of $ 110.00. A 15-year mortgage in the amount of $ 35.000.00 to an interest rate of 9.5% with a monthly fee of $ 365.00, a credit vehicle for $ 5,000 at 16% per annum for five years, with $ 121.00 fee. Together, the monthly payments are $ 597.00. If consolidated into one, with a single entity restructuring the mortgage debt for 20 years and adding all the others, in one installment they would be paying $ 382.47, a little over $ 200 a month that could be saved or invested better in other items.
Reconsider now consolidating debts to breathe a little deeper into this and so tightly packed global financial situation.
The board always pay their debts to date, avoid hassles and unnecessary penalties and interest. If you can not pay, approach the nearest agency of your bank and explain the situation
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