Debt consolidation – Options for Reducing Your Debt

Written by Charles Essmeier


Continued from page 1
card with a lower interest rate and you move balances from other cards to that one, you can save quite a bit.

  • Take out a traditional bank loan with collateral. You can probably obtain a simple installment loan from your bank by putting up cash or investments as collateral forrepparttar loan. Like credit cards,repparttar 136817 interest isn’t tax deductible, butrepparttar 136818 interest rate may be better than credit cards, and if you consolidate several payments into one with a bank loan, you will lower your monthly payment.


  • Take out a home equity loan or home equity line of credit. If you have equity in your home, you can borrow up to 80% of your equity in either a lump sum or a revolving line of credit. Interest rates are still quite low on home loans, so this one could be a good way to consolidate your debt. As a bonus,repparttar 136819 interest is tax deductible. A minor downside isrepparttar 136820 fact that these loans usually have application fees and/or closing costs.


    • Most people can utilize one ofrepparttar 136821 ideas above to help them reduce their debt. If none of these options work for you, you should consider speaking to a credit counselor, who can outline other options that may work for you. Many credit-counseling agencies are non-profit, so it may be worth your while to talk to a credit counselor if nothing else will work.

    ©Copyright 2005 by Retro Marketing. Charles Essmeier is the owner of Retro Marketing, a firm devoted to informational Websites, including End-Your-Debt.com, a site devoted to debt consolidation and credit counseling, and HomeEquityHelp.net, a site devoted to information regarding home equity loans.


    How to Finance a Small Business

    Written by John Mussi


    Continued from page 1

    Banks: The most common source of funding, banks, will provide a loan if you can show that your business proposal is sound.

    Venture capital firms: These firms help expanding companies grow in exchange for equity or partial ownership.

    It is often said that small business people have a difficult time borrowing money. This is not necessarily true.

    Banks make money by lending money. However,repparttar inexperience of many small business owners in financial matters often prompts banks to deny loan requests.

    Requesting a loan when you are not properly prepared sends a signal to your lender. That message is: "High Risk!"

    To be successful in obtaining a loan, you must be prepared and organized. You must know exactly how much money you need, why you need it, and how you will pay it back. You must be able to convince your lender that you are a good credit risk.

    You may freely reprint this article providedrepparttar 136742 author's biography remains intact:

    John Mussi is the founder of Direct Online Loans who help UK homeowners find the best available loans via the www.directonlineloans.co.uk website.


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