What are dangers of debt consolidation?
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kayla
Apprentice
Joined: 17 Aug 2007
Posts: 6
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 Posted: 01/26/08 - 05:42 Post subject: |
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| When I calculate my debts, it seems like it would be much easier to put them all into one big debt, because interests are making me dizzy. I noticed that it would be a great debt but, in any case, it is easier to understand my problems if I consolidate them. Have you ever done that? Now, tell me, what are dangers of debt consolidation? Is it a good idea or should I continue repaying my debts one by one? |
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eleen
Apprentice
Joined: 11 Jul 2005
Posts: 8
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| Posted: 02/25/08 - 00:54 Post subject: |
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| Maybe the best thing with consolidation is the fact that you’ll probably speed things up and interest can get smaller, overall. But, you should know, that must not be true. You should always pay attention when consolidating your debts, since no one is willing to pay for your debts instead of you. My friends got bankrupted that way. You can get offers which only seem like good ones, but in fact you’ll only later be able to realize what you have done. |
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