Debt consolidation will leave you with a huge debt ratio, and close all your credit cards?
Friday, July 31st, 2009 at
12:02 pm
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Tagged with: Consolidate Debt • Consolidation Company • credit cards • Credit Debt • Credit Profile • credit score • debt consolidation companies • Debt Ratio • debts
Filed under: Money Saving Tips
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The temptation is to have lower payments, but that does mean you’ll take longer to pay off the debts, and so you’ll end up paying a huge amount more in interest rates over time. Possibly thousands more.
Be careful–reckon this through very carefully and do the math.