Debt Consolidation Loans: Why Consolidate?
Debt-Fix is dedicated to your debt consolidation loan questions, answers or problems. No matter how difficult your debt situation is, Debt-Fix can help by providing free debt consolidation loan quotes.
Why should I apply for a debt consolidation loan?
Start saving thousands on your debt by filling in the short form. This is a limited-time
offer, so please take advantage of it and apply NOW.
Is it confidential?
All debt consolidation loan applications are
100% confidential. There is absolutely NO obligation for filling
out this form and receiving a free debt analysis by phone.
This program is widely
considered by debt and credit experts as the most effective way
of dealing with debt. And exclusive to our program are some additional
- No need to own property
- This is NOT a loan
- Low qualifying debt minimum ($5000)
What is the Difference Between Debt Consolidation and Getting A Loan?
You have seen debt consolidation loans advertised and they may look like a good idea.
The way these loans work is that you are given a bank loan against
your property and you use this money to pay off high interest
credit cards. Typically, you are required to use the equity in
your house as collateral. The problem is that most people who
are in deep debt do not have equity in their homes and the ones
that do are concerned (rightfully so) about taking on more debt.
In order to reduce your debt, you need less credit not more. Increasing debt by mortgaging
your house is typically financial suicide. Many people report
that Re-Financing with a consolidation loan or a second mortgage
pushed them over the financial brink. Under these circumstances,
the loan or mortgage you do obtain (if you qualify) will be at
a very high interest, and though you will appear to be making
progress, you will only be digging yourself in deeper in debt.
A common myth is that debt consolidation loans are tax deductible. This is only partially
true. Interest paid on mortgages that exceed the value of the
house, used to repay credit cards or personal loans (called unsecured
consumer debt) is not tax deductible.