Need an Unsecured Debt Consolidation Loan?

A meeting of minds: debt consolidation is about meeting your targets, one day at a time



What is an unsecured debt consolidation loan and what information do you need to know before you seek one?

Let's break down this process and explain it in detail.

Unsecured

An unsecured loan, is borrowing money that is NOT secured againist an asset, such as a house, car, stocks, or bonds. In other words, you have a loan that should not effect your assets if don't make the payments. But, as with any loan, there are serious consequences if you do not pay the loan on back.

Debt Consolidation, The concept of debt consolidation is a simple one, once you understand it.

With this type of loan, you are taking your current debt often from a variety of sources and creating a new loan. The primary purpose of this is to pay off all the old debt with one payment.

Example: Currently you may owe money to many different financial organizations or individuals that include:

  • credit card balances
  • an auto loan
  • a personal loan
  • student loan debt
  • borrowings from friends or family

Okay, let's summarize. The concept of an unsecured debt consolidation loan is to bring together all of these borrowed balances under one new loan, not secured on any of your assets.

Major Tips About Money

Let me ask you a few questions.

Would you like to get out of debt? Would you like to set up an emergency fund? How about saving some money, would you like that? Would you also like to get more control of your money so it does not control you?

Then, the e-book ”How To Get Off The Financial Tight Rope” will help you get there. This book will review and cover the money stuff that you were not taught when you went to school. It is on sale right now for a small $5.77

One last question where are you going to find a book that teaches you about money for $5.77?

Buy Now

Why Consolidate Your Debts?

There are many compelling reasons to do this.

One of the most important is saving money on interest charges. You might be shocked to discover how high some of the interest rates are based on the current debt you have.

Credit card companies can charge 20-30 percent APR per year if they choose to! That interest adds up quickly, especially if you're unable to afford more than the monthly minimum.

While interest rates for other types of debt are usually lower, it can still make sense to seek a new loan. You can make one payment every month instead of severa and potentially save on interest charges.

Another advantage of this is that if you've fallen behind on any of your debt payments, consolidating them into a single loan payment means you won't have to deal with debt collection agents chasing you all the time.

We deal with this important topic in much more detail in the articles below. Click any of the headlines to read more.

Also, feel free to contact us with questions or comments.

Want to win two free books about money? Sign-up for the Financial Education Sweepstakes to win! Financial Education Sweepstakes

See related articles for more information

Debt Consolidation Loan Consequences You Must Know About.

Finding a Low Interest Debt Consolidation Loan.

The Best Debt Consolidation Loans.

Tips about how to find a Debt Consolidation Loan Company.

Understanding habits for Credit Card Debt Consolidation Loans.

Answers to how Fixed Rate Debt Consolidation Loans work.

Have bad credit and need more information about Bad Credit Debt Consolidation Loans?

Looking for more information about Unsecured Debt Consolidation Loans?

Want to understand what Government Debt Consolidation Loans are about?



Return from Unsecured Debt Consolidation Loan to the Debt Consolidation Help 101 Home Page









Share Your Debt Story

Share your story at Debt Consolidation Help 101.

Whatever your debt story is be it success or failure we want to hear about it.

Click here to share your story.

We will add our comments and other visitors to our site will be able to follow up with their opinions as well. This is a learning process that helps people understand more about debt.