Consumer Debt Consolidation Help and Information
What is consumer debt consolidation, and is it right for you?
To answer that question, we must first define what consumer debt is, and see how much of it you have.
What is Consumer Debt?
Any loan directly targeting consumers falls under the heading of consumer debt.
- charge cards
- store cards
- credit cards
- auto loans
- unsecured home improvement loans
- unsecured loans for consolidating the above debts
The most common consumer credit is unsecured, "instant decision" type financing. Therefore, secured loans
is not on the list.
How Much Consumer Debt Do You Have?
Now that you know what constitutes consumer debt, it's time to see whether you have enough debt to make it worth seeking a consumer debt consolidation loan.
Tip: Get yourself a nice, clean legal pad or other note pad, and make a list of each type of debt that you have, the payments required, interest charges in the last month, interest rates (APR) and the total balance.
For example:ABC Stores Furniture Loan
Monthly payment: $110
Interest charged last month: $38
Due date: 15th of the month
The due date helps you to see when you're expected to make payments, plus this helps you to plan your cash flow accordingly.
Once you know what it's costing you to carry your consumer debt, you can figure out what the total cost of a loan to pay it all off and consolidate it will be.
See below for more detailed help on this topic. Click any headline to read more information on each subject.
Please contact Debt-Consolidation-Help-101.com if you have any questions or comments.
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Personal Loans For Debt Consolidation and Options To Help You Understand How To Get Out of Debt.
Debt Consolidation and Personal Loans Plus More Tips About Getting Out of Debt.
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