For example, if you have six debts and they each want different amounts at various times of the month but on a monthly basis the total commitment adds up to $550.
This is not always the case and interest rates will vary depending on your credit reputation and the lenders assessment of your application.At Debt Fix, we know everyone's situation is different and we understand that there is no “one size fits all” solution when it comes to managing debt.For this reason, we present affordable options specifically tailored to suit your situation.People also turn to debt consolidation loans as a way to address a debt problem.This too can be an effective debt strategy, although there is one major risk associated with this that needs to be mentioned.The biggest consideration should be paid to the affordability of one large loan as opposed to many smaller debts.
In other words, it may be more convenient to have just one big loan, but what is the real cost of that and how does it compare financially to having multiple smaller loans.
If you have more than three debts and your creditors want different amounts of money at different times of the month you may find it difficult to co-ordinate your payments in a way that works with your budget.
If this is the case, consolidating your debt into one easy and affordable loan may well be the answer.
Everyone’s situation is different and there are always options.
Let Debt Fix guide you through the process and present suitable and affordable options to you today so that you can once again feel in control of your finances.
A person once said to me that when you’re in a hole and you want to get out of it, the first thing you should do is stop digging.