Carson received her Bachelor of Arts in English from Arizona State University.
- canadian dating line
- encountered error 1612 while updating
- who is linda hogan currently dating
- Top maturesex webcams live
Debt consolidation loans are obviously designed to consolidate all of your debt under one loan so you will only have to keep track of one payment each month.
This is also intended to place high-interest credit card debt under a lower interest rate so you will end up paying less in the long run.
If you need more cash in your pocket right now, consolidation can help by extending the life of your loan and thus trimming your monthly payments — although the length of your repayment terms will depend on the amount of debt you have, and you may not be able to extend at all.
But if interest rates are low you can lock in long-term savings, since less of your money will go to interest.
The problem with debt consolidation, however, is that you are taking a number of unsecured debts and putting them into a secured loan.
This means that, if your financial situation worsens, you lose your job or you have a major medical expense, you will still be responsible for paying the consolidated debt—even if you file for bankruptcy.
This can greatly complicate your ability to obtain credit at a reasonable interest rate, and a bad credit score can increase your car insurance rates no matter how well you drive and how few accidents you have had in your lifetime.
This is why many people choose to consolidate their debt rather than file for bankruptcy.
Many people use home equity loans for this purpose so they can also deduct the interest from their income taxes—something you cannot do with most other types of debt.