lesson of desire dating game - Consolidating credit card debt with student loans

With student loan consolidation you roll your multiple loans into one larger loan.

consolidating credit card debt with student loans-66consolidating credit card debt with student loans-19consolidating credit card debt with student loans-13

Here are the top things you need to know before you consolidate your debt: But here’s the deal: debt consolidation promises one thing but delivers another.

That’s why dishonest companies that promote too-good-to-be-true debt relief programs continue to rank as the top consumer complaint received by the Federal Trade Commission.

Most of the time, after someone consolidates their debt, the debt grows back. They don’t have a game plan to pay cash and spend less.

In other words, they haven’t established good money habits for staying out of debt and building wealth.

Debt settlement companies also charge a fee for their "service." Most of the time, settlement fees cost between $1,500 to $3,500.

Fraudulent debt settlement companies often tell customers to stop making payments on their debts and instead pay the company.

Two words for you: , although often the terms are used interchangeably.

We’ve already covered consolidation: It’s a type of loan that rolls several unsecured debts into one single bill. Debt settlement means you hire a company to negotiate a lump-sum payment with your creditors for less than what you owe.

You don’t need to consolidate your bills—you need to delete them.

To do that, you have to change the way you view debt!

Debt settlement is a scam, and any debt relief company that charges you before they actually settle or reduce your debt is in violation of the Federal Trade Commission.

Tags: , ,