Question:

How can I find the best debt consolidation company?

Answer:

A debt consolidation company will offer to replace all your existing financial obligations with a single loan and a single payment. Payments are usually reduced and stretched over an extended period. Often it is useful to even consolidate high-rate revolving debt such as credit cards.

Potential bets for the best debt consolidation company are local banks or unions you have established partnership with. In order to keep you satisfied, they may offer you a nice consolidation loan. Similarly, banks you don't have relationship with may try to win your business giving you a good deal on debt consolidation. Surfing the internet is another way to go for a good debt consolidation company, as well as looking up classifieds and newspapers. Be careful when choosing a debt consolidation company - always run a check on them, ask for rates and testimonials

However, no matter how tempting it is to have a single loan and low monthly payments, when taking a debt consolidation loan you are probably using your house as a collateral and unlike credit card payment defaults, defaulting on debt consolidation may rid you of your house.

Mortgage rates hit their lowest since 1955. Ask the home loan experts we recommend Quicken Loans how to take advantage of them.
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