Advice on consolidation loan
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isador
Apprentice
Joined: 27 Dec 2005
Posts: 8
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 Posted: 05/03/08 - 05:22 Post subject: |
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| I was thinking about this advice from my brother, because I have lots of unpaid expenses, including many bills, he said that it would be better for me to consolidate those loans into one big loan, like… that would save me time, obligations and he said money, too… But I am not sure if I am going to be obligated to pay less if I consolidate loan, which seems unreal to me. Can you give me some advice about should I do this at all, it is not a big deal, I’ll repay my debts, and it’s just way too confusing… the way it is… |
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ninnette
Apprentice
Joined: 02 Apr 2007
Posts: 6
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| Posted: 06/01/08 - 21:11 Post subject: |
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| If you feel like all those debts are making too much confusion to you, than it is the right decision for you to consolidate them. But, if you are planning to repay your debts in a month… or less….. than consolidation would be unnecessary waste of time, actually. As for expenses, it is possible that some taxes may end up joined, and it happens that interest rate is lower sometimes, but that does not have to be a rule. Basically, you pay the same amount, only it all seems somewhat easier. But, from psychological perspective, I must tell you that one big debt causes greater pressure, for it seems harder to repay. So, consider both sides and make a decision. |
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