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Credit Card Debt Consolidation As a homeowner, you may consider credit card debt consolidation through a second mortgage or a home equity line of credit "HELOC". Interest rates on these types of "secured loans" are much lower than you pay on your credit cards. And what's more, you get a tax break at the end of the year. If you do not own a home, it is still possible for you to get a debt consolidation loan. In order to get approved for an unsecured consolidation loan, you need to have good credit. Credit cards are by far a consumer's greatest debt load. The interest on these accounts can be upwards of 21%. If you just pay the minimum amount due month after month, it will take years to pay off these accounts. In fact credit card companies prefer that you never payoff your cards. Debt consolidation companies will often negotiate with your credit card companies to actually lower the amount of money you owe.
 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 credit card debt consolidation to the Loan homepage.  Credit Card Debt Consolidation. |