Consolidate College Loans

Any seeking to consolidate college loans may find that doing so will be both financially and administratively advantageous. Whether looking into the consolidation of federal financing or of funds provided by a private source, pulling a number of debts together under a single umbrella may decrease monthly payments and simplify the bill paying process. Federal financing generally comes under the heading of the Federal Family Education Loan Program, or FFELP, or the Federal Direct Student Loan Program, or FDLP. Both of these programs have lending options that allow students to pull together a number of separate debts that they may have accumulated during college years into a single loan. Longer loan terms can also go a long way to reduce the monthly payment. Attractive options such as fixed interest rates are also features that these lending options have in their favor. While obtaining a loan that extends from anywhere between ten and thirty years can certainly lower payments, the amount of my that will eventually be expended to retire the debt will, of course, be higher than with shorter term debt. There are many options to choose from, and a wise borrower will do careful research before moving forward to consolidate college loans.

Some of the different types of debt that can be consolidated by federal lending programs are the William D Stafford, the PLUS, and the Direct Stafford loan. When choosing to consolidate college loans, these lending options are generally processed through the Direct Loan Servicing Center. Students who are interested in checking out financing options can seek information through of these federal organizations. Free information packets as well as online information are generally readily available. Among the many benefits of choosing to consolidate college loans is obviously the financial reprieve that is available through lowered monthly payments. Other benefits might include a reduction in interest rates and an improvement in a borrower's personal credit rating. This improved credit rating is due to the fact that credit ratings can rise each time a loan is paid in full. The higher scores, coupled with the fact that monthly payments have been greatly decreased, can go a long way in improving the financial picture of the average consumer. There are, of course, some requirements for these lending opportunities. No loan that is in default can be part of a consolidation program. In addition, any debt that totals less than ten thousand dollars is not eligible for consolidation. A borrower must also be a graduate, or, if the borrower is still enrolled in school, must be only a part time student.

Often it is the parent rather than the student who is paying off a graduate's education debt. There are also federal programs that are available that allow these parents to consolidate college loans. of these programs is called the Federal Parent Plus program. As long as the parent's credit is high enough to qualify, they can take advantage of the same kinds of terms, interest rates and benefits that are offered to students who are attempting to consolidate college loans, along with some additional benefits. A variety of educational expenses can be covered by this funding including my that was spent to cover books, supplies, lab costs, room and board, and travel expenses. A credit rating of 625 or higher is generally required for this financing. However, no collateral is required for this financing and in some cases the interest that is paid may be tax deductible. The choice to bring all debt under loan can be a cost saving choice for both parents and students alike. The Bible talks about the benefits of trusting God. "As for God, his way is perfect: the word of the Lord is tried: he is a buckler to all those that trust in him." (Psalm 18:30)

Another source of funding can be found in the private student loan. Debt that has been accumulated through private lending sources can be consolidated as well. Most lenders who offer private financing also offer funding to cover all educational expenses. Once a student has graduated, any private loans that have g toward undergraduate or graduate degrees can be combined to consolidate college loans. Some lenders set a limit of not more than two hundred and fifty thousand dollars of total accumulated debt. For some of these financing options, a borrower will need to obtain a qualified co-signer. Unlike federally insured loans, obtaining a private loan is dependant on the borrower's credit. A healthy credit score that is based on timely debt pay off is needed before any kind of private loan consolidation can be achieved. As with any kind of borrowing, the higher the potential borrower's credit score, the better the terms and interest rates that will be available.

A combination of federal and private loans can not be included in debt consolidation loan. To consolidate college loans, private debt can only be combined with other private debt. In the same way, federal loans can only be combined with additional federal debt. In the case of federal debt, the interest rate on the new loans will be based on an average of all the loans that are being combined. The only exception to this would be if all of the debt that is involved in the consolidation happens to have the same interest rate. There are many web sites that include information on how to combine educational debt into loan. Whether choosing to consolidate federal or private debt, pulling all of this debt into loan can be very beneficial for students who are struggling to handle monthly payments.

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Debt Consolidation Affiliate Programs

A debt consolidation affiliate program is based on per lead pay outs for referring a client to a web page that offers consolidation services. For simply having a potential client submit a short form for a quote, the affiliate member will receive a dividend because of the referral. Debt consolidation affiliate programs can be very profitable because they pay for every referral a member sends to the web page, even for something as small as a quote of their services. This area can be very competitive but usually can be worth the effort because of the profit margin. Taking part in financial companies can bring in extra business if a web site has a great deal of traffic or a widely circulated newsletter.

Personal indebtedness is at an all time high and more and more people are above their heads in debt with no hopes for escape. Debt consolidation affiliate programs can be a way to cash in on the current trend, especially if a person is in a competitive business. As a business advertises their products or services, they can also advertise a debt consolidation affiliate program in a way that will direct people to these web sites. If the people directed sign up or even submit a short form of information, the company will pay for the referral.

This is a huge opportunity for anyone that has a financial website. Debt consolidation affiliate programs have different guidelines for acceptable information they want from interested parties, so it is important to be careful while examining the different programs to find the kind of information that must be gathered up front. To officially classify as a referral, specific information is necessary. A debt consolidation affiliate program can be very successful when coupled with other similar products and services.

Some of the services a business might couple debt consolidation affiliate programs with are payday loans, pre-paid credit cards, and credit repair. Exodus 1:10 in the Bible exhorts us to "come and do wisely." Adding a debt consolidation affiliate program to an already successful online business can be a way to double profits and be wise in business. As a website advertises and presents products and services, they can also advertise and direct the web site visitors to other affiliate web sites where there is potential to earn valuable dollars without much work or effort at all. This can be a great investment for individuals or businesses interested in earning extra income.

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Christian Debt Consolidation Loans

Christian debt consolidation loan information and management programs are usually just part of the many services that many financial ministries offer throughout the country. Many of the financial management and educational services available through biblically based financial organizations are similar to other credit management and financial education sources. The fundamental distinction of a Christian financial ministry from its secular counterpart is the biblical principles upon which all financial advice and services rest. Viewing responsible financial management as a God-given responsibility, a service such as Christian debt consolidation loans can be suggested in order to assist individuals in finding financial freedom.

There are many programs offered throughout the Internet with sites that explain their policies, services, and customer application processes. Christian debt consolidation loan programs usually put their service fees for these types of loans within the payment period allowing a one-payment approach to monthly payments. If someone is concerned about finances and wants to deal with an ever-growing financial burden, they can provide an effective and personal financial strategy to get financial responsibilities on track. Check today for online Christian debt consolidation loans program that interests someone. "Wealth gotten by vanity shall be diminished; but he that gathereth by labour shall increase." (Proverbs 13:11)

These programs provide a financial option to consolidate unsecured debt into a single, manageable debt with the goal of clearing all debts. A Christian debt consolidation loan program through a Christian service will also offer accountability, resources, and spiritual insight regarding money management God's way. Expert financial counselors are available through many evangelical financial organizations to assist anyone in choosing the right opportunity. These financial experts will help put finances into perspective and assist to get the budget under control with options such as a Christian debt consolidation loan. A cautionary note is to beware of consolidation loans that charge unreasonable interests and fees that will hinder a debt-free goal. A biblically sound financial advisor can steer a person competently to the best choice.

A program can cut total money owed significantly and reduce all monthly payments to one low payment. A person can be free from several high interest cards and extended payments that can continue for years through credit card companies. Many consumers end up treading water with credit card companies by basically paying interest every month and barely touching the principle. Christian debt consolidation loans are especially good for providing a quick solution to multiple credit card debts and replacing them with a single payment that the consumer can manage. Christian debt consolidation loans also offer a way to begin to repair damaged credit. Credit card companies view customer consolidation as a step in the right direction and when outstanding bills are paid, the company can clear up charge-offs.

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Mortgage Debt Consolidation

Mortgage debt consolidation loans in the United States are becoming a more popular method to pay off obligations than ever before because of America's surmounting consumer debt. It is estimated that the average American household holds more than $18,000 in consumer obligations (not including mortgages). This equates to over 2 trillion dollars nationally. Americans live in a "buy now pay later" world. Mortgage debt consolidations can help those that have large credit balances. Using credit as a means of getting things that would not normally be afforded is not only socially acceptable, but encouraged.

Obtaining a mortgage debt consolidation to get rid of those obligations is one option. It would seem that indebtedness is inevitable if a person is not independently wealthy. It is a catch 22. In order to get a good education to get a good paying job, a student must take out student loans to pay for their higher education. Once the education is complete and the student retains a good job, the student loans must be paid back. While a 3%-6% interest rate sounds good in theory, for a $50000 student loan that has accrued interest for 4 years, equates to $125-$250 a month in interest alone. Add in the principle, and that graduating student not only has regular living expenses to pay for, but also a truckload of debt for 20 years.

The solution provided with a mortgage debt consolidation can only be an option for those that own their own homes and have some kind of equity in it. These mortgage debt consolidations are also named home equity loans, refinance mortgages, or second mortgages. The basic premise is to pledge property as security for payment of the loan. The loan proceeds are dispersed directly to the homeowner to spend as they wish. If the homeowner pays off all of their debt with the loan, then they can relieve the burden of multiple debtors wanting payment. This type of consolidation is becoming easier and easier to obtain, some even completely over the Internet.

"For wisdom is a defence, and money is a defence: but the excellency of knowledge is, that wisdom giveth life to them that have it." (Ecclesiastes 7:12). If the homeowner chooses to spend consolidation financing in another way, then they have the possibility of losing their home in the future. Banks and other lenders offer mortgage debt consolidation to those that are in need of it or not. The gain they receive is the promise to pay, or a portion of the homes value. This is considered collateral. Collateral is always required when an application is made for mortgage debt consolidations. These services should include some type of financial counseling, and this counseling can be the difference in an individual digging a deeper financial hole, or burying that hole without further burdens.

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Christian Debt Solution

A Christian debt solution can help a Christian to avoid bankruptcy through negotiation and consolidation of financial obligations. Some of the services they offer include learning how to live on a budget, working with creditors to lower interest and principle, working on restoring credit, finding out how to consolidate bills, and learning what God's word says about debt. "Owe no man anything, but to love one another: for he that loveth another hath fulfilled the law" (Romans 13:8). Negotiation can mean paying off a lower balance with less interest. Consolidation can lead to lower interest and one monthly payment instead of many. Credit repair can help to raise credit scores so that lenders will offer lower interest rates and fees. A Christian debt solution can help people to get their finances in line with God's word.

Consumers who find themselves in financial distress need to pray and ask God for guidance on how to successfully manage debts and how to keep from becoming indebted once all their bills are paid off. They need to consider using a Christian debt solution as a resolution for financial problems. In today's world there are some options for those who need help. Online there are many companies who promise solutions. God's children should seek out help through companies who are founded on God's word, who have ethics and are honest and trustworthy. People who will pray for you and with you are the type of friends who will go that extra mile to help.

Sometimes things happen where God's children get into situations that are undesirable and stressful. Society encourages consumers to spend. Advertisements give products power that they really do not have by saying that they can do this or that. Not exercising restraint can get anyone in trouble with overspending and poor money management. Lenders make credit card offers sound great. Most consumers who apply for credit cards and use them find out in a few months that they are set up to keep a person in debt. Once interest and fees start being applied it becomes almost impossible to pay them off. Other things that can contribute to financial distress include high house and car payments, rising fuel and food prices, and trying to pay high cell phone bills, cable bills, and high utilities. A Christian debt solution can be a good place to start for someone who is seeking answers on how to cope and how to get out from under the yoke of debt.

One of the first things that most people think about when having financial difficulties is filing bankruptcy. Chapter seven bankruptcy allows a person to write off high interest credit card debt which is what gets most people into trouble. Before a consumer can file bankruptcy he or she has to attend a class on consumer credit counseling. A certificate of completion of the class has to be presented to the court. Filing bankruptcy can be very costly as an attorney will have to be retained and court fees have to be paid. Afterwards the bankruptcy will be placed on the credit report of the debtor. This will stay on the report as a public record from seven to ten years. A Christian debt solution can offer a consumer different choices on tackling financial problems so that he or she will not have to file bankruptcy.

Settlement and negotiation are two options that can help with financial obligations. Companies online that offer a Christian debt solution include these services. Some creditors would much rather settle from some of what the debtor owes than have them file bankruptcy. Companies that offer services work closely with many creditors to negotiate a settlement for less than what the client actually owes. Additionally the creditor agrees to stop all late charges and interest. Settlements can be anywhere from 40% to 75% of what is actually owed. If the client can offer a lump sum amount that can be paid immediately they may accept a lesser amount. Negotiation may include an agreement where the debtor pays so much a month until it is paid off. The important thing to remember with this type of arrangement is that the client must be willing to make sure the payments are made on time or the creditor may not honor the agreement.

Learning to live on a budget is essential in overcoming money management problems. A Christian debt solution employs professionals who understand how to set up a budget for the client so that he or she will have success with changing their spending habits. The client must be willing to write down all expenditures and keep track of every penny. A budget will show total income and total debts. There is a category for each creditor and for every expense. When the client spends more than is allotted on the budget then he or she will have to make up for it somewhere else. Spending too much on groceries will mean less available money for other things such as entertainment.

Consolidating debts is another service that can help a consumer to pay off existing debts by acquiring a loan. The loan will mean having one monthly payment instead of several. Hopefully the interest on the loan will be much lower than the debts that are paid off so the monthly payment amount is considerably less than all the obligations were together. If the debtor owns a home they may be able to take out a second mortgage or if there is enough equity then it might be possible to use an equity line of credit to pay off bills. Loans on property usually have lower interest compared to personal loans. A Christian debt solution provides the consumer with valuable information so that the best decision can be made that provides the most benefit.

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Bad Credit Debt Consolidations

Bad credit debt consolidation can be an option for any consumer when minimum monthly payments have become more than they can afford. This is especially true if missing payments has affected the credit rating. If the minimum monthly payment is not enough to allow the individual to get out of financial strain or monthly payments leave the consumer with little or no money, bad credit debt consolidations may be the best answer. There are many companies available that will help the individual to manage current financial problems without having to take on any additional loans.

Pursuing bad credit debt consolidations is not like pursuing a loan. This is a method used by companies to combine debt into a manageable form. These consolidations, however, include only unsecured debt. This form of obligation included in bad credit debt consolidation can include credit cards, personal loans, medical bills, phone, or utility bills. There are, however, some things that this loan will not cover including attorney fees, traffic or court fines, payday loans, child support, alimony, mortgages, car loans, or any other secured loans.

There are companies that will help the consumer to manage finances using bad credit debt consolidations. These companies usually charge a fee and then help negotiate lower interest rates with creditors while managing the monthly payments. There are various ways to do this and every company is different, so it is necessary to make sure the process is easy to understand through the chosen company. Regardless of the process, these techniques usually will save money which can be used to begin paying down the principle on current balances.

Some companies offering bad credit debt consolidations are worth the small monthly fee. They typically save the individual much more than the fee that they charge. However, there are companies that offer bad credit debt consolidation that are not legitimate. In these cases, the company may take the monthly payments, and keep them for a month or more before they make payments, thereby collecting interest on the consumers money. Not only can this accrue late fees with creditors, but it can also leave the consumer with bill collectors attempting to gain their payments. Making a bad or wrong choice can leave the consumer in a much worse financial situation.

It is important for the consumer to use care when attempting to find a bad credit debt consolidation company. The individual must review the past history of the company and determine if they are indeed a legitimate operation. This may seem impossible to determine, but there are many steps that will make this easy. The Better Business Bureau and the Internet can be very helpful in determining if a company is legitimate and successful. Researching and reviewing a company will allow the consumer to determine if it is truly legitimate. "Abstain from all appearance of evil" (1 Thessalonians 5:22).

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Bill Consolidation Service

Mr. Drowning in Debt finally called the bill consolidation service that his wife had been talking about for months. This service had been advertised on the man's local television station and it promised that interest rates would be cut, monthly payments cut in half and all it would take is a phone call or a mouse click to make it happen. For Mr. Drowning, the promises sounded like music that was sweeter than a Vivaldi concerto. Across the country and everywhere online a bill consolidation service, also known as a credit counseling service is available. In so many cases, a credit counseling service wears the non-profit moniker, but surprise, non-profits are allowed to make profits also. So Mr. Drowning in Debt made the phone call and scheduled an appointment downtown at a small and inauspicious office which housed one of the non-profit services in the area. Since the office was not extravagantly furnished and the non-profit caveat was firmly in view, Mr. Drowning felt comfortable that this was a place he could trust.

Lest a person get the wrong idea, bill consolidation service can really go two directions. One direction is an actual consolidation of all debts and one new loan takes their place. In most cases the new loan payment is quite a bit less than all the previous monthly bills put together. This approach works...well, not so much. For one thing, the new loan is typically going to be for a very long time, particularly if the consolidated bills added up to a large sum of money. Secondly, the interest on the new loan is going to be gigundo. The reason is because good old steady banks, the purveyors of cheap money, don't do consolidation of debt loans unless it is a home equity loan.

But then if Mr. Drowning had equity in his house, the man would have headed straight for the bank. But his credit is what the kids call whack, and so one new big loan was not what he wanted to do, and bless his heart, he made the right decision. For all the students in the class, here is a question. What do you think happens to an undisciplined borrower of money who gets his payments lowered with the new big bill consolidation service loan and now has some extra spending money every month? Duh. A new loan for that fishing boat will fit quite nicely into the monthly budget. And here we go again.

Whatever interest rates a person has with their credit cards and possibly some installment loans, a consolidation service loan interest rate will probably be at least 21 or 22 percent. And this percentage rate is paired up with a much larger credit amount meaning a ton of cost is associated with a bill consolidation service loan. Don't forget that most lending companies offering these all in one loans are funded by high risk investors who know that those who get this type of lending agreement are probably those who have not had a great track record in handling borrowing privileges. And the higher the risk, the more money a borrower will have to pay for borrowed money. Thus the profit usually outweighs any risk for the investor providing the loan money.

The other direction that bill consolidation service can go is the credit counseling route. Credit counseling may be a bit of a misnomer because credit counseling doesn't really put food on the table. While some credit counseling services do offer classes for the credit challenged, options that the client can do on his own are not readily discussed. Credit counseling is also interested in offering debt consolidation services but with a different twist. The fear of drowning in debt can sometimes almost be palpable but Jesus told us to be much more fearful of something else. "But I forewarn you whom ye shall fear: Fear him which after he hath killed hath power to cast into hell: yea, I say unto you, fear him." (Luke 12:5)

The bill consolidation service that credit counseling services offer is much cheaper than a large debt consolidation loan would be. Thousands of dollars less, in fact. Credit counseling services will negotiate with all of a client's creditors and get every account interest rate lowered substantially with the exception of federal loans and interest on owed taxes. The result will be a substantially lower monthly payment and all accounts can be paid off in five years if the client sticks with the program. Once one account is paid off, more money can be put on the next account and so on. The credit counseling services make about ten percent of the new consolidated monthly payment as their profit. It appears to be a pretty sweet deal.

Danger, danger Will Robinson! Bill consolidation service from a credit counseling service goes on a credit report as negatively as a Chapter 13 bankruptcy. Danger, danger! Statistics say that only thirty percent of credit counseling clients stay with the program until finished! The sad truth is that undisciplined consumers, when they have extra money in their pockets, don't have the will to put the money to wise use, either saving it or putting it on credit accounts for payoff. But there is a huge light at the end of the tunnel for those who want to go ahead and go the credit counseling route. All the things that a credit counseling service will do for the consumer can be done by the consumer himself; just go online and find out!

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Consolidation Business Opportunities

A debt consolidation business opportunity exists in the United States because of the number of Americans who are experiencing difficulties with managing their credit debts. Entrepreneurs who are interested in providing guidance to consumers who have incurred excessive debt might want to consider this option. The Internet has been instrumental in providing access to finding out more about such debt consolidation business opportunities. This is because these are usually Internet-based businesses.

It is usually marketing companies that offer such occasion. A debt consolidation business opportunity allows an individual to run the show from their home as an independent consultant and is based on the concept of network marketing and the development of a down line, multi-level marketing method of increasing profits. Network marketing is a one-person-to-another approach of introducing someone to a product or service. In multi-level marketing one develops a pyramid system by recruiting others to receive the same training, and then those members will in turn find still others who are interested.

There are many options out there so it is important to carefully review all debt consolidation business opportunities and pick the right one for the specific situation. What is working great for one person may not work at all for another person. God teaches His people to be patient and trust in Him. Psalm 73:28 says "But it is good for me to draw near to God: I have put my trust in the Lord GOD, that I may declare all thy works." Keep this verse close in order to have peace and hope for all of life's endeavors.

An individual pays an initial fee to become a member of a marketing company that has relationships with various financial institutions and must become a certified consultant. The new member pays for the classes provided through the marketing company that offers a debt consolidation business opportunity. The specialized training equips the individual with understanding and information that he or she must know in order to guide others about negotiation and/or settlement of excessive credit debts or past due taxes, or refinancing mortgages or student loans consolidation.

The new member frequently uses business cards to find clients who would be also attracted to similar openings. When serving as a debt consultant, the member uses the forms supplied online by the marketing company. Then the member assists their client with the paperwork that will be sent to the financial institution that works with companies that provide debt consolidation business opportunities. That institution will complete the transaction and the member will receive a referral fee.

For an additional monthly fee, the marketing company will provide individualized, ready-made web pages so the members can have their potential customers respond online to the invitation to find out more information about either debt resolutions through consolidation or about pursuing a job for themselves. Individuals should be cautious when evaluating debt consolidation business opportunities since a significant number of home-based business opportunities rely on questionable business practices and often the investment does not result in the purported profits promised through membership.

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Bill Consolidation Company

Seeking the help of a bill consolidation company can be positive step toward a more financially stable future. Consolidating debt generally means that a borrower has sought out a lender that will roll all of their unsecured debt into one loan. A single monthly payment that is lower than the sum total of all the monthly payments that the borrower was originally responsible for can make a huge difference in life of the individual who is seeking financial relief. But beyond convenience, these loans can provide struggling borrowers with the opportunity for a needed fresh start. There are many lenders who can help an individual by not only providing the financing to bring all debt under a single loan, but can also negotiate with creditors for better loan terms and possibly better interest rates. Then there is the bill consolidation company that offers a slightly different approach. Rather than taking out an additional loan, these companies will work with creditors to reduce the borrower's overall debt. This debt will still be rolled into a single monthly payment, but the payment will be paid directly to the consolidation service. In turn, the service will disperse funds to each creditor for a monthly fee.

By taking advantage of a bill consolidation company, a borrower is generally not refinancing, but rather they are restructuring their debt. Effective negotiations with a borrower's various creditors can often result in much more agreeable terms in the area of repayment. This method is much preferred over bankruptcy. Bankruptcy itself can be a costly decision. The services of a bankruptcy attorney are generally required. A borrower's credit will feel the devastating effects of filing for bankruptcy for many years to come and any bankruptcy proceeding will remain in a consumer's credit history for a decade or longer. Loans for a home or an automobile or even life insurance might be denied to an individual who shows a bankruptcy filing on their personal credit report. In addition, some areas of employment are not open to those who have chosen bankruptcy as an option. For these and other reasons, considering the services of a bill consolidation company may be a wiser step than filing for bankruptcy. Whatever decision a borrower might make, seeking out wise, professional guidance is always a good idea. The Bible talks about the lifelong guidance that God provides. "For this God is our God for ever and ever: he will be our guide even unto death." (Psalm 48:14)

There are many different kinds of personal debt that might benefit from the help of a bill consolidation company. In general, the kind of debt that is handled by these companies is considered unsecured debt. Unsecured debt can come in the form of tax debt, student loans, debt caused by medical expenses, credit card debt, and bank credit lines. Home mortgages and vehicle financing are regarded as secured debt. Secured debt means debt that can be applied against an asset if a borrower defaults on the loan. In other words, if an individual should neglect to keep home mortgage or automobile loans up to date, that home or car can be repossessed. This kind of debt cannot generally be included in any kind of consolidating effort. The bill consolidation company ends up being billed by the various creditors involved. As the company collects a monthly payment from the borrower, that payment is then disbursed among the various creditors. Some of these creditors might agree to pay a fee to the consolidator. As with a dept consolidating loan, the debtor will make one monthly payment, but the debtor is not actually taking out a new loan.

There are a variety of features that a borrower may want to look for when they seek a bill consolidation company. The importance of finding a reputable organization cannot be overstated. Some services make big promises up front, but may or may not be able to deliver once the individual has signed an agreement. An important step in choosing which service to use is to find out if the majority of a borrower's creditors are willing to work with the service. A debtor who discovers too late that many of his creditors are not willing to work with a particular debt consolidation organization might find himself in an unfortunate situation. Rather than obtaining a way to reduce dept and clean up a messy financial situation, the borrower may find themselves paying an extra service charge to a company that has been successful in consolidating only a fraction of their debt. A wise consumer will never sign a contract from a company that does not provide adequate information or cannot demonstrate a good working relationship with the bulk of the debtor's creditors. Once a reputable company has been located, a debtor can receive needed financial relief from an oppressive financial situation.

In addition to traditional unsecured debt, a bill consolidation company can help an individual cope with student loan debt. The cost of a standard four year education can be staggering. Most students pursue higher education to better prepare themselves for a competitive job market. Over the course of this education, a student might end up taking out a number of separate educational loans. When graduation finally arrives, a mountain of debt may be waiting for the graduate, and this debt will come at the time when debtor is first entering the workplace and trying to build an adult life. By consolidating this debt and extending it over a number of years, a borrower can gain achievable monthly payments along with valuable financial peace of mind.

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Accelerated Debt Consolidations

Accelerated debt consolidation seems to be a viable option for optimizing interest rates among students and graduates stuck in the Catch-22 of needing money to find a job and a job to make money. This future focused time of life is expensive. There are travel trips, business clothes, and of course the financial struggles that did not fly free with the tossing of the graduation cap. Let's face it; loans are a fact of educational life along with other college expenses such as housing, gas bills, and accessible credit cards. Items will add up and before people know it, they are in debt. People need to get a reign on their finances and look at consolidating options that can help.

Even with scholarship after scholarship, loans are the reluctant road many students take to pay for quality education. This investment is partnered with a leap of faith mentality- one day a person will get a job and pay off the loans, but now he needs the education to reach that job. Accelerated debt consolidations might be a road to peace of mind for a graduate with much on the prayer plate. Along with students and graduates gaining financial simplicity, the Bible calls us to remove their financial roadblocks. Is accelerated debt consolidation a good choice for people? The term seems daunting, but it is doable. Many students need to only understand the terms to unravel their money saving potential. Accelerated debt consolidation signifies bringing the entire financial struggle together under one lender. This type of process should decrease complication and interests rates.

There are Christian nonprofit firms that seek to aid believers who are in financial hardship and need accelerated debt consolidations. Remember this is not an overnight fix, but a step to manageable funds. People should pray over their possibilities. If one feels accelerated debt consolidations is for them, a person should make sure the lenders are credible in their dealings. There are available Internet sites that charge unnecessary fees. For example they ask for money to search for so called experts that are "right for one's case." People should have confidence. One can find the right accelerated debt consolidator match for their hardships without paying a search fee. Also, a person should be aware that some companies would lead them into greater total financial struggle with outlandish, quick accelerated debt consolidations cash claims.

For those concerned, they should pray they can live Exodus 22:25 which states, "If you lend money to one of my people among you who is needy, do not be like a moneylender; charge him no interest." There might be Christian accelerated debt consolidators who do charge interest and their rates are intended to relieve one's stress. People should be wise and prayerful in choosing the organization that is best for them when dealing with financial hardships.

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Debt Consolidation Bad Credit

Debt consolidation with bad credit assistance will help an individual get out of the morass of bad debt accumulated over the past few years. Credit card debt, car loans, medical bills, and old utility bills are just a few of the unsecured debts that may be making a persons life a nightmare. Consolidating these bills can relieve a consumer of those dreaded harassing phone calls and the threatening mail that often accompanies indebtedness. This can also offer relief from the depression overwhelming the individual because of an unpromising financial future.

Help is right at an individuals fingertips. With a computer, anyone can locate not-for-profit groups that will help consolidate debt and set a manageable budget to get out of a financial predicament. Consumers will be able to compare the different kinds of assistance that debt consolidation with bad credit companies offer. Before contacting a lender or agency, it is important to determine if the group provides the assistance the individual needs at a rate they can afford. By using these online resources, an individual can begin to climb out of the hole of debt and despair they have fallen into.

Proverbs chapter 10 teaches that right living will lead to happiness. "He that walketh uprightly walketh surely: but he that perverteth his ways shall be known." (Proverbs 10:9). Not dealing with debt will lead to greater anxiety and worry. God's way is always the best. Solomon, the wisest men who ever lived, says in the fool lives his life without seeking advice from anyone else. But a wise man seeks instruction from wise counselors. Accepting debt consolidation with bad credit assistance makes a lot of sense. A consumer will be able to tie into the knowledge of professionals who have dealt with the bad credit arena for many, many years. They will find just the right solution to the individuals situation.

Seeking debt consolidation with bad credit assistance may help anyone to avoid a bankruptcy and can help them begin restoring good credit. The company will review the individuals case and determine what they are able to pay for their specific circumstances. The agency will draw a reasonable plan of action, that allows the consumer to get on with life while they they get out of debt for good. Making the right choice to discontinue over-spending and sticking to a budget will lead to a more richly lived life.

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Best Debt Consolidation Companies

The best debt consolidation companies will advise a person to cease from taking on any additional burden to pay on previous money owed. They will show a person how to stop the cycle by combining the current multiple payments into one manageable loan that will lower monthly payments, decreasing the finance charges being paid with a lower average interest rate, and focusing income on paying off the combined total. Once a person gets the situation under control - with or without help - it is imperative to not allow such a load from ever occurring again. The best debt consolidation company will offer credit counseling and advice - not just financial management of the consolidation itself.

God has much to say about money and taking out loans. He is fully aware of the mess humans put themselves into with greed and covetousness, He started his laws with the commands to avoid coveting (Exodus 20:17). His rules have great significance in the modern world and one is best to consider God's rules and will before choosing to put himself into a financial obligation that even the best debt consolidation companies will be challenged to assist with.

If a person absolutely cannot discipline themselves to manage finances, stop using credit for normal purchases, and start the pay down of existing debt in a consistent manner, then it is probably time to get help. The problem is finding the best option who will really strive to help people and not strive to keep their business profits increasing. Too often these so-called best debt consolidation companies are debt collectors under the guise of debt negotiators who claim to have opened their best debt consolidation company in order to serve the desperate debtor. What is really happening with too many is they play on the debtor's desperation and lack of personal discipline in order to line their own pockets and sometimes with consequences worse than ever.

It pays to investigate the businesses while searching for the best debt consolidation company to service the settlement. There are numerous best debt consolidation companies advertising directly to the consumer market on the television airwaves, not to mention the thousands that offer help in privacy online. These are the most tempting because dealing online prevents the face to face meeting with the counselor to talk about an embarrassing situation. The most credible options online will make a point of displaying their policies in writing and their accreditation. Even such listings are not guarantees of their performance, but there are risks in any business venture.

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College Loan Consolidation

A college loan consolidation could be the answer for anyone who is struggling to find a way out from under mounting educational debt. Some lenders claim that students who borrowed to cover the cost of higher education might be able to cut monthly payments by as much as fifty percent. Careful research and comparison could yield interest rates that are both reasonable and fixed. Some online lenders offer the opportunity to apply via the Internet and charge no application or origination fees. One reason that monthly payments are significantly lower with these loans is that the financing is extended over many years. Some financing can continue for up to thirty years. These lenders frequently do not require credit checks or co-signers. Both students and parents of students are eligible to apply for this financing. A consumer should do careful research before moving forward with many of these lenders. Some student debt already carries extremely low interest rates, so the expense of refinancing at a possibly higher interest rate may not be such a good idea. But the borrower who has multiple loans may find a college loan consolidation to be the best way to pay off education related debt.

Student financing can come in the form of federally insured loans as well as private financing. If a graduate has financed an education with federal funds, those funds can be consolidated through a federal college loan consolidation program. The interest rates for these loans are usually fixed. For many former students who are in the process of beginning a new life in the work force, the ability to refinance multiple loans and combine the costs of all the loans into one can provide needed relief from crushing monthly payments. Creating a more manageable way to deal with this debt can make life much easier and possibly even increase personal credit scores. The standard repayment plans on original student debt generally stretch out over ten years. But since many university educations can cost as much as a small mortgage, a thirty year option does not seem unreasonable. The ability to make larger payments than are required can be another benefit of this form of financing. An additional benefit to federal college loan consolidation might be found in the fact that there is generally no penalty for early pay off.

The more flexible options associated with repayment using college loan consolidation programs has made them an attractive option for graduates who are struggling with educational debt. Many lenders offer a faster turn around time on these refinancing opportunities, some boasting a turn around time of as little as thirty to sixty days. Collateral, co-signers, and in some cases, even employment are often not necessary to qualify for this financing. An outstanding educational debt of more that ten thousand dollars is a prerequisite for attaining one of these loans. The interest rates for this financing may be calculated based on a weighted average of the rates that the debtor is currently paying on their existing loans. This average is rounded up to the nearest 1/8 of one percent. Standard federal student loans will usually have a six month grace period following graduation. For many borrowers, applying for college loan consolidation during this six month grace period can result in significant savings. Waiting until this grace period has passed may increase interest rates on any kind of refinancing by as much as six tenths of a percent.

The types of financing that are eligible for college loan consolidation include subsidized and unsubsidized Stafford loans as well as loans that come under the headings of HEAL/HPSL, Parent PLUS, Perkins, and nursing school loans. If a student has already consolidated loans from an undergraduate degree and wishes to refinance again including debt that was accumulated earning a graduate degree, this can be done as well. However, it is not a good idea to consolidate federal student debt in combination with private student debt. This is because the rules that apply to private educational financing differ from those that apply to federal loans. Other types of debt including credit card debt and automobile financing also can not be included in to any kind of federal educational loan consolidation plan. At one time it was possible to consolidate the educational debt belonging to two separate borrowers into one loan as long as those borrowers were married. Unfortunately, this is no longer the case. The Bible discusses the importance of allowing good to prevail. "Be not overcome of evil, but overcome evil with good." (Romans 12:21)

Private educational funding can be consolidated as well, but certain regulations that apply to federal financing do not apply to private debt. For example, it is not possible to defer payments on a private college loan consolidation if a borrower wishes to go back to school or in the event of a financial hardship. Private educational funding does not allow for tax deductions on interest paid. Loan forgiveness for graduates who apply for federal refinancing and choose certain career paths is not available for private refinancing. These career paths include teaching in economic development zones, certain federal volunteer programs, and military service. In the event of the borrower's death, federal loans are forgiven. This is not the case with private financing. The borrower's next of kin must assume the debt. Another difference between federal and private financing is the interest rates. Private educational lending opportunities often come with variable interest rates rather than fixed.

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Bill Consolidation Program

A reputable bill consolidation program can provide a creative solution for any debtor in need of a solid solution to crushing monthly payments. Many of these programs offer the guidance of trained counselors who can work individually with a client to determine just which areas of debt may be eligible for consolidation. These professionals will also work hard to negotiate with debtors to establish better lending terms. If late fees and interest rates have gotten out of hand, a borrower who has chosen to work with a bill consolidation program can often see these terms brought under control. In addition, a single monthly payment can make financial solvency and stability a real possibility. This approach does not involve taking out a new loan or refinancing any debt. The borrower will instead make one monthly payment to the consolidating service. The service will then disperse this money to the various creditors that have accepted the negotiated terms. Many of these organizations also offer their clients the convenience of an automatic payment service that withdrawals the monthly payment from the client's bank account automatically. A simplified bill paying plan and the added security of lower monthly expenses can make a huge difference for families who are struggling to make ends meet.

There are many online companies that offer a bill consolidation program. In addition, many brick and mortar financial businesses offer the same kind of service. By providing financial counseling to clients, many of these services not only provide a practical solution to monthly liabilities, but also provide long term guidance that can help to prevent future problems with indebtedness. Trained professionals who can work with creditors to reduce interest rates and call a halt to late fees and other charges can provide an invaluable service. Creditors who deal in unsecured debt can cover a wide variety of debt types. Doctor bills, attorney fees, collection agencies, credit card companies and any number of other forms of unsecured debt can be rolled into one payment with the help of a bill consolidation program that is tailor made to meet the needs of the individual client. When choosing an online company, a potential client should be concerned about issues of security and privacy. These issues are of particular importance since much in the way of sensitive financial information will be shared with the consolidating company. Any company that does not address these security needs should not be considered as a viable provider of financial services. A wise consumer will perform adequate research into the options and capabilities of a particular company before signing a contract.

One primary area of unsecured debt is the credit card. The ease of use and buying power that a credit card provides can make it very tempting for an individual to rack up a large amount of debt in a short period of time. Once this liability has stacked up, the borrower will often find themselves in the position of being able to afford to make only the minimum monthly payment. At this rate, the credit card holder will have a very difficult time paying off the accumulated debt. By working with a reputable bill consolidation program, a borrower can get started on the road to repayment of mounting credit card indebtedness. Once these balances have gotten beyond the point of reasonable repayment, it is easy for a borrower to begin defaulting on the monthly payments. Anyone who has had to endure harassing daily phone calls from collection agencies can appreciate a company that can provide a realistic plan for bill repayment. Many of these organizations can work with creditors to get expensive late fees waived and possibly even lower interest rates. One of the reasons that many creditors are willing to work with debt consolidation companies is that the possibility of a debtor declaring bankruptcy and the creditor never receiving any further repayment may be great. The ability to collect on the money that is owed rather than forfeit it all together is often seen as adequate reason to participate in negotiations.

Many borrowers assume that a bill consolidation program involves taking out an additional loan, but this is not true. A major drawback of any kind of refinancing of unsecured debt is that the amount of time that is needed to pay back these loans can often double or even triple. Over the long haul these loans can end up costing the borrower much more money than they save. While such loans can at times provide a reasonable answer, a professional financial counselor can provide debtors with advice that is tailored to their particular situation and needs. In addition, some loans of this nature may also require the borrower to supply some type of collateral. Using collateral can put the borrower's valuable assets at risk and may not be the best solution to the situation at hand.

Whatever approach a borrower might choose, working with a skilled professional to draft a reasonable bill consolidation program can often lift a weight of financial worries. The reasons behind this mounting unsecured indebtedness can vary. Some families find themselves facing staggering medical debt that seems to make a return to economic solvency impossible. Reaching out for help in these cases is always a good idea. Lowered interest rates, consolidated payments, waived late fees are all good reasons to seriously consider a bill consolidation program as an option. Economic peace of mind is also a valuable benefit. The Bible talks about the way that good people can help each other out in times of financial need. "A good man sheweth favour, and lendeth: he will guide his affairs with discretion." (Psalm 112:5)

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Cheap Debt Consolidation Loan

Cheap debt consolidation options are offered from a myriad of lending sources especially targeting the financial needs of those facing multiple high interest credit card accounts and personal loans. A cheap debt consolidation loan is one-time financing extended by the lender for the purpose of paying off outstanding obligations accrued by the consumer. Borrowing money with low interest may help to provide freedom from financial bondage. There are companies online that offer assistance and provide online applications. It is also possible to obtain a free quote online.

In order to qualify for a cheap debt consolidation loan, an individual's credit history, monthly earnings, and amount to borrow are considered by cheap debt consolidation companies. Any existing collateral such as real estate, vehicles, and other substantial holdings can be used as surety for a financial agreement. More collateral may mean paying cheaper interest rates. Some lending companies will even provide financing without collateral depending on other verifiable factors regarding the applicant's ability to repay the loan. It is important to understand the responsibility that comes with fulfilling obligations. Finding a way to overcome the temptations that come with buying on credit will bring peace of mind. Ask God to give direction on how to make a life change and to not be overcome with burdens associated with borrowing. "Then she came and told the man of God. And he said, Go, sell the oil, and pay thy debt, and live thou and thy children of the rest" (2 Kings 4:7).

Credit history is important to lending institutions. It goes without saying that most consumers looking for a cheap debt consolidation loan may already be in financial trouble. Experiencing job loss, medical problems, divorce, and other circumstances may lead one to seek financial assistance. Lending institutions online advertise a way out of financial difficulties through cheap debt consolidation. Some offer settlement options to help one get out from under financial burdens quickly. They will work with one's creditors to negotiate faster payoff solutions. Ask about debt settlement when researching options.

If an individual has already begun to pay as much of his or her unsecured obligations as possible, the cheap debt consolidation company favorably views consumer commitments. Secondly, applying for one loan to cover the rest of the outstanding balances implies that the individual intends to pay off the cheap debt consolidation loan. Putting up any existing collateral, even if it is a vehicle, assures the lending company of repayment. It is wise to shop around for the most competitive rates and repayment stipulations. Get several quotes from financial institutions before making a decision.

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Business Debt Consolidations

Business debt consolidation enables financially strapped corporations and companies, that are unable to meet their current financial obligations, a way to get finances in order. Because the nature of selling goods can be feast or famine, sometimes a business may find itself behind on bills. Business debt consolidations are a tool to not only help a company avoid bankruptcy, but also help the company to become financially solvent again. "They shall not be ashamed in the evil time: and in the days of famine they shall be satisfied" (Psalm 37:19).

Consolidating does not involve a new additional loan, but rather it is a combining of the current overdue balances. With business debt consolidations, companies usually can lower their payments because the amount is stretched over a longer period of time. In addition, consolidating can lead to lower interest rates. Companies should consider business debt consolidation if they find themselves unable to meet their financial obligations, but when their debts mostly are current as well. If a company finds itself "robbing Peter to pay Paul," it may be time to consider consolidating.

A third party, either a for-profit company or a non-profit agency, takes part in consolidating. This third party, in turn, handles contacting the creditors, paying the outstanding bills, and managing the consolidated bills as the company pays it off. When looking for a company that assists with business debt consolidations, owners need to read the fine print to see what, if any, fees they charge, including any monthly or initial set-up charges. Most legitimate companies will not charge lofty fees, but will earn their pay based on the amount of money they are saving the client.

There are several advantages to consolidating. First, the annoying and troubling collection calls stop, which will free the owner up to concentrate on the company, and not just the company debt. Second, the company will receive a fresh start as business debt consolidation reduces, eliminates or restructures the amounts due. Third, the company assets will be safeguarded, as will be the owner's credit rating. Finally, with business debt consolidation the owner will prevent the company from having to file bankruptcy. Because a Chapter 11 bankruptcy will blemish one's credit report for up to 10 years, owners want to avoid it if possible. Consolidating, however, can help people maintain and even improve their credit rating as the company pays its balances on schedule.

While consolidating may seem like a great idea for one's company, it should be entered into with serious consideration. Business debt consolidations should not be used simply to reduce monthly payments in order to afford more credit. Instead, company owners need to take time to examine the underlying cause of why the business debt got beyond their control in the first place.

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Compare Debt Consolidations

Compare debt consolidation companies when seeking help for financial problems. Financial disaster can often cause one to make hasty decisions. While looking on the Internet compare debt consolidations and obtain some advice from a financial counselor or through a consumer credit counseling agency. These professionals work with consumers everyday who are suffering from financial worries. They can evaluate one's situation for a complete picture and give some valuable advice concerning individual finances. They can also work with one's creditors for positive resolutions to pay obligations. They negotiate with lenders to reduce payoff and interest thus reducing obligations significantly.

Look for competitive interest rates to compare debt consolidation loans and consider refinancing a mortgage to pay off existing accounts. Compare debt consolidations and make sure there are no added loan charges or prepayment penalties. This will allow one to pay off all high interest accounts. The consumer is left with one monthly payment. When considering this option always look at lenders that offer competitive interest rates and no hidden fees.

Agencies are on the Internet to assist consumers by providing help with money matters. Some provide advice and education on how to manage money and be successful at living on a budget. Do some research and take advantage of assistance online. Compare debt consolidation companies to negotiate reduced payoffs with lenders. "The rich ruleth over the poor, and the borrower is servant to the lender" (Proverbs 22:7).

Make a commitment to compare debt consolidation companies and find a way to reduce and eventually eliminate obligations. The only way to truly live free from financial worries is to change spending and saving habits. Look at spending habits for ways to cut out unnecessary expenditures. Plan for emergencies and save accordingly. Consider a second job to help pay off high interest loans. Learn to live on income earned and cut up credit cards or use only one for emergencies that has low interest and no annual fee.

Compare debt consolidations and find out how to make positive lifestyle changes. Take one high interest account and double up on the payments until it is paid off. Then tackle the next one in the same way. Be wise and seek accountability through a debt management plan. God does not intend for anyone to live in debt as a slave to credit institutions. Compare debt consolidations and find one that is nonprofit and works on behalf of the consumer.

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Credit Card Debt Consolidation

Credit card debt consolidation is a symbol of the 21st century as it exposes the massive credit usage of this generation. Companies have made credit access exceedingly easy and they take advantage of those who cannot pay their balances in full each month. They are even so "generous" as to increase the limits for their "preferred" customers. When these preferred customers then try to reform their detrimental behavior by seeking a credit card debt consolidation, it is done with the most incredible juggling act - transferring balances to lower interest rate cards using their overextended credit history as collateral. Easy-to-use credit card checks have accelerated the use of credit lines via finance charges and cash advance fees they generate. Therefore, the act of consolidating cards has taken on an autonomous life as borrowers juggle debt from one company to another seeking 0% interest rates for short term relief.

When the borrower finally wearies of the juggling act and decides to take a proactive stance toward consolidating credit cards, it must be done with a definitive plan and with a decisive attitude. To assure absolution of consolidating, people must start with putting all the cards on the table - literally. People must begin with a full awareness of the depth of the situation that most borrowers tend to ignore in fear. This information should then be disclosed to the creditors along with a detailed plan of how the borrower expects to eliminate the excess and assure that the credit card debt consolidation will result in a clean slate without a frenzied relapse. Explain the situation and ask for the creditor's help in making the plan work, which in turn will assure them that accounts receivable are covered and ultimately paid in full by cooperation. Default in this situation could end in a financial disaster not only for the borrower, but in loss of anticipated repayment for the creditor if the borrower ends up having to file for bankruptcy.

Once a company is found willing to accept the transfer of two or three other companies' balances, close those zeroed accounts, people need to cut up the cards and never reopen them. Then, they can focus on paying every open account's monthly payment, even if the payments must be smaller than creditors demand. Credit card debt consolidation usually makes the combined balance more manageable especially if a lower interest rate is provided. But, if there are multiple other accounts involved that were not part of the consolidating effort, it may take some time to get them all reduced to a manageable level. Don't panic during the time it takes to see the final results of eliminating the total debt burden. It took less time to build the debt, but with a steady pace, the time to destroy the debt will be completed. "Wealth gotten by vanity shall be diminished; but he that gathereth by labour shall increase" (Proverbs 13:11).

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Christian Debt Consolidation Program

A Christian debt consolidation program can help an individual or couples, who get caught up on bills and overdue balances with a unique payback system through a Christian financial company. Using Biblical principles and scriptural examples, these programs will help a debt-ridden person get back on a solid financial foundation. Consolidating will help by allowing the debtor to make one monthly payment to their creditors instead of many. They are an excellent way to get a fresh start if one finds himself in deep water financially.

Consolidating will allow debtors to lower their monthly spending and thereby immediately reduce some of their money-related stress. A Christian debt consolidation program can drastically reduce the interest one has been paying on credit cards from thirty percent or more down to as low as six percent or less. These programs can also eliminate many of the late fees and over limit fees they may have been paying. Consolidating is a great way to take one's finances back in hand and start controlling them rather than letting the opposite happen, as has been the case for most debtors.

Getting a new loan can be a lifesaver for someone who has fallen behind on payments for any number of reasons, from ill health to loss of job or change in marital status. Many single mothers have used a Christian debt consolidation program to their advantage. Consolidating can help eliminate debt by up to fifty percent and can help preserve and rebuild credit and the debtor's good name by enabling them to repay rather than file bankruptcy. There are many of these excellent programs available to help. Debtors can find them online and locally. It is best to start at church and ask for recommendations, especially from pastors or ministers. There are also Christian companies of this nature that advertise on the radio and TV. Consumers should look for a company that has no complaints with the Better Business Bureau and charges little to no fees.

Consolidating can free consumers from the harassment of bill collectors filling their answering machine with calls or flooding their mailbox with appeals to pay. Working with a counselor may help the debtor to work out a system of repayment that will get them eventually debt-free. 1 Samuel 22:2 says that everyone who is in debt is in distress and discontented. A Christian debt consolidation program can help to eliminate that distress and discontentment by freeing them of the burden of obligation so that they can be at peace.

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Consolidate Payday Loans

Whether or not to consolidate payday loans is a question many people may have on their minds, especially if there are more than a few of these screaming high interest loans that are behind schedule in being paid back. Payday loan agreements are a very bad idea for those who need money to tie them over until the next pay check arrives. It's understandable that sudden emergencies do crop up all the time, whether it is a furnace motor, a well pump, new brakes for the car, a medical co pay or some other pressing issue. Since it is estimated that seventy percent of Americans actually live pay check to paycheck, the possibility of having any real savings to cover these pop up crises is negligible. Now some people have outside resources from which to borrow money such as parents, other relatives and perhaps even a few churches, but most people are probably surrounded by those who are in the same no dough boat. So there may be no other place for a father to go when the radiator starts leaking on the car and it needs a one hundred and fifty dollar repair and pay day is a week and a half away. The car is the only way to get to work so there is no choice but go down to the local predatory lending company known as a pay check advance store.

Once this cycle begins, the difficulty to break out of it begins in earnest. More everyday emergencies arise as they always do and it quickly becomes very difficult to extract one's self from the ever increasing black hole. As a result, the principle amounts of the paycheck advance lending agreements often never get repaid and then the expense skyrockets and the question of whether to consolidate payday loans becomes a real possibility. Paycheck advance companies have extraordinarily high interest rates. In many states across the country, an unpaid loan of this type, if not paid in a year will cost the borrower eleven hundred dollars! Can a person even imagine the stress and the anxiety caused by not being able to stop this freight train effect could have on a low income family trying to do the right thing but knowing they are just a victim?

So suppose this father, who has borrowed two hundred dollars to pay for the radiator must let the loan principle ride for several months. He has only been able to keep up with the costs of administering the loan, about thirty dollars each paycheck, but in three months time the loan is now at four hundred and fifty dollars. Sadly, his son has to have emergency surgery and out of pocket expenses are over a thousand dollars. He goes back to the payday lender for more money. The man gets five hundred dollars this time and then it must ride for several months also. Suddenly debt is over fifteen hundred dollars in just five months time and growing by the day. So to the stop the bleeding, the father decides that to consolidate payday loans is the best strategy. No one wants to be poor financially, but Jesus actually praised a certain kind of poverty when he declared, "Blessed are the poor in spirit, for theirs is the kingdom of heaven." (Matthew 5:3)

There is a very barbed wire that surrounds the decision to consolidate payday loans and that is the condition of the debtor. Since FICO scores are of no interest to payday lenders, it is not a stretch to say that those who use these predatory companies probably have very tattered credit scores. Many may be in the low five hundreds. They are not individuals who can go into a bank and get a home equity loan so they will have to get borrowed money at local loan companies or certain online lending companies that charge as much as thirty percent interest if they can even qualify for this high risk money. This becomes a very real conundrum for the people that are looking to consolidate payday loans are the ones who cannot in any shape or form afford either a high interest loan or another one being introduced into their monthly budget.

Credit counseling services might be a good alternative for those who are wishing to consolidate payday loans. But there is a gigantic cockroach in that ointment. These friendly, personal check into cash people won't offer any consolidate payday loans benefits to its customers. In other words, credit counseling services can often cut in half the interest on choking credit card accounts, but cannot offer the same services for those drowning from paycheck advance interest. So perhaps the only choice for a person wanting to escape such a toothy bear trap is to seek out a high interest unsecured loan.

However, before making such a drastic step to consolidate payday loans, the advice so many financial experts give is to seek out a wise person who is successful at running their own financial household or business. Listen to their advice closely and ask them to give ideas on different options. Perhaps out of that conversation can arise a new perspective that has never been considered before. The beginning of wisdom is the genuine admittance that one does not have all the answers and that giant blunders have been made. God is certainly longing to hear that admission from all of us.

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