Benefits consolidating credit card debts


02-Jul-2018 15:56

That is, because mortgages are typically repaid over a long period, the portion of the monthly payments linked to your consolidated debts are likely to be much lower than they were before.For instance, monthly payments on a personal loan totalling 10,000 and at an interest rate of 8% over two years is likely to be in the region of 450 per month.Our repayment terms for debt consolidation can reach up to 15 years, which means you could reduce your monthly repayments and free up a portion of your monthly expenditure.

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Even though debt consolidation creates a new account, lenders see the other accounts as paid in full.In simple terms, consolidating debts is not the easy option it seems as there are lots of potential pitfalls that need to be considered as well as the short term benefits.



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