If you are serving in our military or did so in the past, you probably know that you can get some well-deserved perks in terms of favorable mortgage terms and local discounts. But what if you need help dealing with your debt? If you’re considering a debt consolidation loan, you may be able to take advantage of special terms offered to veterans by banks and credit unions. These can be in the form of lower interest rates and advantageous terms. Sure, you could search online for “best debt consolidation loans for veterans” and check out each lender’s available offerings. But since shopping for a ..read more

The cost of debt, like everything else in America, has been steadily rising since we emerged from the 2020 pandemic. Those historically low interest rates are long gone. While inflation is less severe, it sent prices high enough that the average person is still feeling the pinch. This combination of factors has many consumers looking into a debt consolidation loan or a balance transfer credit card.    Is one option better than the other? Read on to take a closer look at how debt consolidation loans and balance transfer cards compare. What Is a Debt Consolidation Loan? A debt consolid ..read more

Does debt consolidation affect credit rating? It’s a common question, and the simple answer is yes, your score can be negatively affected when you take out a debt consolidation loan. The impact, however, may be outweighed by the benefits of the loan. What’s more, the drop in your score will likely be reversed by making your loan payments on time. Taking full advantage of a debt consolidation loan’s advantages can require some education, plus adopting new financial habits to get your money management on track. So read on to learn the details on how your crucial credit score is determined, how d ..read more

If you’re dealing with a high level of debt, you may be delving into the potential benefits of debt consolidation. Your eye is likely on the prize of getting to a more affordable monthly payment, which can help you eliminate your debt and lower the level of money stress you’re experiencing. While that’s understandable (and sensible), it’s also important to be aware of the hidden costs of debt consolidation. There are fees that tend to get glossed over by lenders when loan applicants are trying to get approved. This is a common sales technique known as “focus on the positive.” This article will ..read more

If you’re considering a debt consolidation loan and your credit score is below 580, you may wonder what options are possible. Let’s be honest: When you have a lower credit score, getting a loan can be a challenge. Your credit score reflects your creditworthiness, which isn’t a judgment on your character: it is a simple numeric representation of how much risk you present to a lender, driven by your past financial habits and history. When you have a low score, lenders typically conclude you are not a good bet to repay a loan and may therefore reject you. This can feel like a Catch-22: You want t ..read more

If you are dealing with multiple debts and a whole lot of money stress, you’ve come to the right place to learn about debt consolidation, also known as debt relief. It’s a process that involves swapping high-interest debt (say, from multiple credit cards that are getting close to being maxed out) for one loan that offers a single lower monthly payment. For many, debt consolidation can be a way to eliminate debt in an affordable and streamlined way. And there’s also the benefit of less money anxiety once the weight of the debt is lifted. So read on for a guide to debt consolidation. You’ll lear ..read more

Are you considering debt consolidation without debt review or debt counseling? Let’s be clear: Debt consolidation without debt review is like jumping overboard without a life jacket. You might be able to swim to shore, but chances are you’ll drown. Obviously, you want to avoid that. So know that debt counseling is the lifeboat that can bring you to a safe port in the storm. The importance of these two elements of debt management should not be underestimated. In this article, we’ll explain why. Deciding to Deal with Your Debt Applying for a debt consolidation loan or balance transfer credit car ..read more

Golden Eagle Lending is a new loan outfit as of September 2023, but they began as a private lender, backed by a team of investors with 62-plus years’ experience in the lending space. The company recently launched as an online lender to the general public. Specializing in unsecured personal loans for the purpose of debt consolidation or other household needs, Golden Eagle offers fixed-rate personal loans ranging from $10,000 to $75,000, with repayment terms from two to seven years. Clients may use this funding to pay off other existing unsecured loans or high-interest credit card debt, ideally ..read more

Debt consolidation is often seen as a financial lifeboat, rescuing those who feel as if they’re drowning in multiple debt payments. While this financial process does come with its share of benefits, it’s crucial to recognize that there are also potential risks lurking. To make sure you make the right move when managing your finances, read on. You’ll learn some of the dangers and drawbacks of consolidating debt, as well as how to avoid them. Image source: Jeff Weese Risks of Consolidating Debt Like every debt management method, consolidation comes with some risks. You’ll Have One Big Payment T ..read more

If you’re feeling anxious about how much you owe and wondering how to deal with it, you’ve likely bumped into the terms “debt consolidation” and “debt settlement.” They might sound similar and each can offer help when you’re in this financial situation, but they address the challenge in distinct ways. Here is what you need to know about the difference between debt consolidation and debt settlement so you can make the best choice for your situation. First things first… Assess Your Debt Profile Before looking into the differences between debt consolidation and debt settlement, you’ll want to con ..read more