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Consolidate Debt The average U.S. citizen pays 11 different creditors every month. Making one single payment is much easier than figuring out who should get paid how much and when. This makes managing your finances much easier. Your debts can be unsecured or secured. Secured debts usually are tied to an asset, like your car for a car loan, or your house for a mortgage. If you stop making payments, lenders can repossess your car or foreclose on your house. Unsecured debts are not tied to any asset. If you are a homeowner, you may be able to consolidate debt through a second mortgage or a home equity line of credit. Since these loans are secured by collateral (your home), the interest rates will be lower than what you pay on credit cards, signature loans, etc. Always negotiate with more than one lender. Make lenders compete for your business by letting them know that you’re shopping for the best deal. Ask each lender to lower the fees or the interest rate. And ask each to meet — or beat — the terms of the other lenders.
 Financial contracts are very confusing. Before signing yourself to a major long term commitment; have an attorney, familiar with financing and taxes, examine and explain the details (where the Devil is). A good tax finance attorney can save you many times his fee over the years, not to mention possible legal problems.  Whether buying a new car, or a used car, or selling a vehicle; first check KBB (Kelley Blue Book), Black Book, Red Book, or the NADA Used Vehicle Guide. For complete information on all your financial needs, turn from consolidate debt to the Loan homepage.  Consolidate Debt. |