http://www.credit-card-counseling.net/credit-consolidation/credit-consolidation-loans/ Credit consolidation loans can get you out of debt fast. Learn all about credit consolidation loans here. en-us Sat, 26 Jul 2008 15:00:00 EDT Sat, 26 Jul 2008 15:00:00 EDT Weblog Editor 2.0 Are you in debt? Do you have collateral? If so, you might want to check into credit consolidation loans. How Credit Consolidation Loans Work Credit consolidation loans are given to people in debt to pay off their unsecured debts. The idea is to pay off the unsecured debts immediately, and replace your unsecured debt payments with loan payments. The benefit is that the interest rate on credit consolidation loans is so much lower (generally half of what you're paying now) that you can have it paid off in five years or less. (If you think that sounds like a long time, consider this: A $10,000 debt at 18.5% interest typically takes 32 years and $24,500 to pay off if you don't pay more than the required monthly minimum. The same amount of debt could be paid off in about five years with the help of a credit consolidation loan.) Where to Find Them You can find credit consolidation loans through credit consolidation companies like those listed on our Related Resources page. You can also find these companies by doing an Internet search on credit consolidation loans. You'll find a plethora of companies ready and willing to provide you with a credit consolidation loan. You can even find companies who offer bad credit consolidation loans. Just be careful--you don't want to choose the first company that comes along. Check 'em out first. Make sure the companies you are most interested in are nationally certified and accredited. Make sure they have a physical street address, not just a post office box. And make sure they are ready and willing to answer any questions you have. Buyer Beware When you get one of these loans and pay off your creditors, be sure you don't let yourself fall into debt again. Let's say you used a credit card consolidation loan to pay off your credit cards. The next thing you know, your credit card minimum payments are replaced by a more affordable loan payment. However, your credit cards all have zero balances. It can be tempting to go shopping and rack up that debt again, but if you do, you'll be in worse shape than you were to begin with because you'll have high credit card minimums again and a loan payment. Then what will you do? If you get one of these loans, get some credit counseling too. That way, you'll learn how to budget, how to save and how to use your credit wisely so you can avoid being in debt in the future. It will probably quell your temptation to use your credit cards again, too. Sat, 26 Jul 2008 15:00:00 EDT http://www.credit-card-counseling.net/credit-consolidation/credit-consolidation-loans/bad-credit-consolidation-loans/ Bad credit consolidation loans saved Mary. Can bad credit consolidation loans save you, too? en-us Sat, 26 Jul 2008 15:00:00 EDT Sat, 26 Jul 2008 15:00:00 EDT Weblog Editor 2.0