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Formoy Finance&Money Information Service. takes pride in providing honest debt consolidation counseling and consolidate debt services to you at the best value for your dollar. Our features is a huge selection of company, quote, counseling, solution, problem, settlement, free debt consolidation loan, student loan debt consolidation, credit card debt consolidation, bad credit debt consolidation, non profit debt consolidation, consolidate credit card debt, debt consolidation program and more.
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And we introduce you some types and articles about debt consolidation: school loan consolidation, credit card consolidation, bill consolidation, loan consolidation, credit consolidation, federal loan consolidation

There is a general trend of debtors going for debt consolidation loans when they fail to repay their debts. Such loans are offered at low rates so that one can clear his previous debts. However low may be the rates, it is not a wise idea to apply for another loan in order to pay off past consolidating debt. A person who is already in debts should opt for debt consolidation programs rather than getting himself tied to fresh loans. Debt consolidation packages help you to get rid of debts in a better manner.

You need not take further loans for repaying the previous debts. You can prevent loans and debts from getting higher. This helps you to have a good credit status so that you can easily qualify for higher loan amounts in future. Thus, the sole purpose of debt consolidation packages is to restore good credit and bring relief to a person failing to pay off his debts. You should approach a debt consolidation firm to avail debt consolidation packages. On your registration with a debt consolidation firm the debt consultant will negotiate with the creditor to reduce the total debt. The amount of debt reduced depends on how well the consultant negotiates with the creditor and also on your rapport with the creditor.

Debt consolidation loan is not a complete solution for your debts. Our services, which include debt reduction, debt counseling and credit repair form a complete package that will lead you to a debt free life. So it is advisable that you do not apply for further loans; rather go for debt consolidation programs and get rid off debts as soon as possible.

The goal of our community is to make you debt free, improve your credit rating by eliminating bad credit and stop collection agencies from bothering you. We will provide you with unbiased information and counseling to help you decide between debt consolidation, debt settlement, credit counseling and budgeting to become debt free. We will also give you the inside scoop on how to improve your credit rating and stop the collection agencies from harassing you. For a free no-obligation consultation from a credit counselor, please fill out the short form below, and you will be contacted at the earliest.

The amount of debt you owe.
Unsecured financial obligations like credit card debts, payday loans, utility bills, medical bills, student loans etc
Total Secured loans like mortgage, auto loans etc.
Balance on each credit card.
If you own a home in which you might have some equity.
Principal / Interest component of the total of each credit card.

This will prevent you from paying off your debts in time. But the interest continues to mount up with the loan balance getting higher. You can overcome this situation with a refinance loan, but there may not be enough equity in your home. You may have credit card debts that will prevent you from repaying your mortgage loan at regular intervals. An easy way out to this problem is to make extra payments towards the mortgage loan. Such extra payments towards your loan amount can reduce the total interest and thereby help to repay the loan much before the loan period. This helps you to save cash for future investments.

You may be charged a prepayment penalty for paying off your mortgage loan before the loan period. So while you intend to make extra payments to pay off your mortgage in a short time, just check out if there is any such penalty involved. There may be cases where lenders consider a part of the extra payment as a service charge. So before you plan for extra payments consult your lender regarding these charges and make sure you send a separate check for the extra payments. You should also send a note stating that the extra amount is paid towards the principal amount. Otherwise, the lender may just apply it towards next month's payment and still charge you the interest. Most of the mortgage companies don't have this problem. Nevertheless, make sure to keep a watch on this. You should also avoid late payments for which lenders often raise your interest rate to over 25%. These tips and tricks can help you only when you shop around for the best loan programs in the market and make the necessary calculations for probable mortgage payments. You need to have patience and move ahead with a planned budget. Explore all possible ways before you choose the one that can assure you a debt free life.

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