Are there advantages of one refinancing credit compared to several smaller ones?
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braden241
Apprentice
Joined: 26 Apr 2009
Posts: 2
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 Posted: 01/13/11 - 08:19 Post subject: |
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| I have several personal loans as well as a credit card debt. Some friends have advised me to refinance, and consolidate my debts into one easy repayment monthly loan. Apart from the one repayment thing, I don't see any advantages. How many languages should top business manager know?What do you think? |
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ogdan
Apprentice
Joined: 10 Mar 2005
Posts: 6
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| Posted: 02/12/11 - 01:21 Post subject: |
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| Interest rates are often much more favourable with personal loans then with credit cards and that goes also for other personal loans. There is nothing wrong with shopping around for cheaper rates! However, watch out for any penalties you might have to pay for the early repayment of your other loans. |
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