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Consolidate Debt With a SMART Loan

The Secret of Winning the Debt Consolidation Loan Game
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Consolidation, to End Your Debt Problem
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Consolidate Debt with a Consolidation LoanYou have too many debts and can't seem to control them

More than 40% of the population have a problem with debt. Some have tens of thousands of dollars in multiple credit accounts. They may be eking by with minimums, and 60% of people admit that they've missed a payment here and there and had to pay a late fee.

Having to take care of so many monthly payments, and knowing that the interest rates are sky high creates unhealthy stress and endangers one's financial future.

How do you avoid losing control of your money situation?

When just paying minimums, the end never seems to be in sight. It's frustrating, and it causes anxiety! What happens if there comes a time when you can't make the minimums?

It's a terrible situation and you need to do something about it quickly.

Are you actively looking for a solution to your debt problem?

If so, as you should be, a debt consolidation loan might be the perfect solution for you. It simplifies everything by combining all of the debts into one monthly payment, and can save money by lowering interest rates dramatically.

It's like finally tackling that cluttered mess of a room, getting rid of the junk, and discovering a new beautiful space. Consolidation loans are a time-honored way of dealing with overwhelming debt, but you have to go about getting one carefully.

Why is this the most powerful method of getting a consolidation loan?

There are times when a consolidation loan offer is a dangerous trap. And there are times when it can be a lifesaver. Using the power of competition gives you the advantage.

On this page are the links that will let you put out the message to a network of lenders that you are interested in their offers. When you have multiple options to choose from, and clear criteria for judging whether this consolidation loan is beneficial or dangerous, you will be able to go forward with confidence.

That's why I believe you should use a network, rather than the first offer you get from your local bank.

Not all consolidation loans are great, and not all of them are scams

Let's say someone has $35,000 combined debt, with an average 18% interest rate. The combined monthly minimums are around $1400. It will take them, if they don't use the credit cards at all, two years and eight months to get debt-free. They will be contributing more than $9000 in interest to the credit companies. $9000!!!

So they get an offer of a consolidation loan at 12% interest, and requiring them to pay just $800 each month. Sounds great, no?

No. In this case, they will be in debt for more than four years and the total interest paid will end up being $11,200. How can that be? Well, in order to get them a lower monthly payment, the timeframe of the debt is extended. The longer they have the debt, the more time there is for interest to accrue. So even though the rate is lower, the extra year and a half end up costing more than $2000 more.

So with consolidation sharks in the sea, you might be hesitating..

Yes, it is true that some consolidation loans are devious. But most are not, you just need to make the calculations.

For example, in our situation, if a consolidation loan offers the same 12% interest rate, but demands $1285 monthly payments, the customer will save $3200 and be out of debt in the same two years and eight months.

Here is how to find, judge, and accept a good debt consolidation loan

Always get a number of offers to compare to each other. Once you have offers, you can use the Debt Auditor Calculator on this site to see whether the offer will save you or cost you money.

As a general rule, despite the attractiveness of low monthly payments, they usually indicate that you will be spending more on interest than had you done nothing. If simplifying the process, and having lower monthly payments – even at the cost of more interest over time – is what you want, that's okay (but not recommended). You need to know what your situation is.

By getting many offers, you increase your chances of finding the perfect consolidation loan. You can start this process right now at the bottom of this page.

Don't accept a consolidation loan offer until you have read this and made these calculations first

Make sure you do the calculations before you sign. My recommendation is to look for a consolidation loan that significantly lowers the interest rate, but keeps the monthly payments as close to the original as possible. Those are the ones that will save you money.

Also be aware of the fact that many consolidation loans are secured, meaning that your house or car maybe collateral. That is what gives the bank the confidence to lend you the money at a preferred rate. An unsecured consolidation loan, or a balance transfer card, will probably not lower your rates enough to justify making the change.

In the case of balance transfer cards, you can often get one with a 0% introductory rate for up to 18 months. If your debt is small enough that you can pay it off in that timeframe, then that is the best option. But if you are dealing with a few years, you must know what the interest rate will be after the introductory offer is expired. Sometimes they go even higher than what you are currently paying, and in the end could cost you money.

Our person with $35,000 debt got this deal through a network

They received seven offers, and chose the one that gave them a 9% interest rate, with a $1100 monthly payment. This will make them debt-free in three years, and they will save more than $4000 in interest. They had considered an offer at 11% with just $900 due monthly, but after doing the calculations they realized they wouldn't be saving anything.

That's the advantage of getting many offers, you can choose what works for you.

Save lots of money on your debts by taking these actions

Filling out the form takes just a couple of minutes. There are a couple of lender networks that we are affiliated with. The best are Personal Loans Network and Super Money, so I suggest you start with them. You can simultaneously apply to both to increase your options, or you may find that you have more than enough to choose from one.

Out-of-control debt is a ticking time bomb

The philosophy of this site and its parent network is simple: Get It Done Now. Take action right away, begin clearing the junk out of that cluttered mess of a room and make the day closer when a beautiful shiny space opens up. When you take action and arrange a consolidation loan, you join the elite few who live actively and get the best results.

You need and want to do this now. Saving money and becoming debt-free should be an urgent priority. It's important for you. Here are the services I have found for you:

Personal Loans Network

One application, and you will receive offers from multiple lenders. Great for consolidation loans.

Get started here

Super Money Consolidation Loans

An online lender specializing in debt relief loans to consolidate your debt.

Get started here

Bad Credit Loans

A network of lenders with loans available for people with Fair or below credit scores.

Get started here

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