Debt is an unfortunate reality for many. Whether credit card debt, student loans, car loans, or medical bills, getting rid of debt can prove difficult and confusing.
Debt consolidation loans are an option for those struggling with multiple debts. The debt consolidation loan combines a debtor’s financial obligations into one loan package, thus making the process of paying down debt substantially easier. For example, college loan consolidation or credit card consolidation.
Debt consolidation loans aren’t for everyone, and there is some debate as to their effectiveness in paying down debt over the long term. Those considering a debt consolidation loan should do their research to determine whether a debt consolidation loan is right for their situation.
Assessing Debt Consolidation Loans: First Steps
When considering a debt consolidation loan, the first step the debtor should take is an assessment of current financial obligations including car loans, credit card balances, personal loans, and college loans. An online debt consolidation calculator is a great place to start.
Debt Consolidation Loans: DebtConsolidationLoan.com
DebtConsolidationLoan.com provides helpful information and comparison shopping for debt consolidation loans.
The DebtConsolidationLoan.com home page displays three websites that feature debt consolidation: LowerMyBills.com, Credit.com, and CareOneCredit.com. Click the Get Started Now button under any of these selections to go to the respective website and complete an initial debt consolidation request form.
Also note additional debt consolidation loan information under the Compare Consolidation Loan Programs and Related Services Online heading. Click Debt Consolidation to read helpful advice on consumer resources, credit counseling, and debt management programs.
Debt Consolidation Loans: LendingTree.com
LendingTree.com is a popular website for comparison shopping of car loans, mortgages, and credit cards. Lenders contact the loan shopper directly with loan quotes.
To find information regarding debt consolidation using LendingTree, scroll all the way down to the bottom of LendingTree’s home page. In the Products & Services heading, click Debt Consolidation Loans. Note the debt consolidation options including college loan consolidation and debt consolidation via personal loan.
Debt Consolidation Loans: E-Loan
E-Loan is a financial services company that offers banking services, mortgages, home equity lines of credit, and car loans.
To read information on debt consolidation using E-Loan, scroll down to the bottom of the E-Loan home page. In the Services heading, click Debt Consolidation. On the left-hand side of the page under Debt Consolidation Loan Options, click either Homeowners or Non-Homeowners.
Clicking Homeowners provides information on debt consolidation via cash-out refinance. Clicking Non-Homeowners provides information on debt consolidation loans via unsecured personal loans.
Debt consolidation must be carefully planned before combining debts into one debt consolidation loan.
However, websites including DebtConsolidationLoan.com, LendingTree, and E-Loan make it easier for the debtor to obtain information on debt consolidation and to decide whether it would be beneficial to his or her current financial circumstance.