Already on ArticleSlash?

Forgot your password? Sign Up

Unsecured Debt Consolidation Loans - No More Credit Card Bills

 


Visitors: 141

A borrower who has several debts might find it beneficial to get them consolidated. However, it cannot be stated as a universal rule that consolidation will be advantageous every time. You have to evaluate each offer of consolidation on its merit.

It is better to do your homework before taking up any offer of consolidation because it should not prove to be a useless exercise. The motive should be either to save some money in the consolidation process or gain some extra time for repayment, depending upon your individual requirement. After the festive season, people realise that they have several credit card and store card bills pending with them. Since these bills attract very high rate of interest, many people try to get rid of them by consolidating their debts.

Borrowers opt for debt consolidation loans in two situations – to get rid of their credit card bills or to consolidate their large personal loans. Further, debt consolidation loans can be secured or unsecured. Unsecured loans would not solve your purpose if you have large amount of debts to be consolidated.

Debt consolidation can be carried out with the help of unsecured loans if your overall debts are not more than £20,000, because lenders offer only a limited amount of loan in the absence of security. Your application for unsecured debt consolidation loan is quickly processed by the lenders. There is no security involved in this type of loan and hence, no need for valuation of security arises. This saves a lot of your precious time.

Before proceeding with debt consolidation, just take care that you have evaluated the merits and demerits of your move. You should be getting some benefit out of this process. It may be in the form of a lower interest rate, longer repayment period, less monthly outgoing, convenience of dealing with one lender, etc.

About The Author: For more information about debt consolidation loans . Please visit our website: http://www.longdogfinance.co.uk/

(340)

Article Source:


 
Rate this Article: 
 
All About Credit Card Debt Consolidation Loans
Rated 4 / 5
based on 5 votes
ArticleSlash

Related Articles:

Credit Card Debt Consolidation Program - Pay Off Your Bills And Become Debt Free

by: Saurabh K Jain (December 14, 2007) 
(Finance/Debt Consolidation)

How to Get Credit Card Debt Consolidation Help to Get Rid of Unpaid Bills?

by: Asheesh Mani (August 08, 2008) 
(Finance/Debt Consolidation)

Unsecured Debt Consolidation Loan - The Smart Way to Get Rid of Credit Card Debt

by: Thomas Erikson (July 11, 2007) 
(Finance)

Credit Card Debt Consolidation - A Sensible Way to Consolidate Your Credit Card .

by: Linden A. Walhard (May 14, 2007) 
(Finance)

Paying Bills and Going Into Debt? Obtain An Unsecured Debt Consolidation Loan

by: Thomas Erikson (April 13, 2007) 
(Finance)

Get Out of Credit Card Debt - Debt Consolidation Loans

by: Zach Ford (April 11, 2008) 
(Finance/Debt Consolidation)

Debt Consolidation - Loans That Will Help You Pay Off Your Credit Card Debt

by: Bryan Burbank (September 17, 2008) 
(Finance/Debt Consolidation)

Debt Consolidation Loans - Get Out of Credit Card Debt

by: Cole Collins (September 16, 2008) 
(Finance/Debt Consolidation)

Credit Card Debt Consolidation Loans

by: Ronnica Rothe (June 20, 2007) 
(Finance/Debt Consolidation)

All About Credit Card Debt Consolidation Loans

by: Amanda Thompson (February 05, 2007) 
(Finance)