Argh ...Debt consolidation - I can never spell this word right. :-). Excuse any misspellings as we go along. I promise the content is better than the spelling.
Debt Consolidation is one of those terms that people throw around. I have to admit up until a few months ago, when the system was explained to me, i didn't really understand it either. So here's my 2 cents of how debt consolidatoin can help you.
Basically consolidation allows you to group together all your bills and replace them with one bill. If you have let's say student loans, car loans, Visa, Sears, Home Depot, Macys, Gas cards, etc and you are carrying a large amount of debt on all of these cards, you can replace them with one loan especially if your are late on payments or it is hurting your credit score. Most debt consolidtaion loans require you to own a home and to refinance your home. It is important to your FICO score that you don't pay your bills late. This is 35% of your credit score according to Sharon Listner of http://www.kstreetloans.com. The next most important thing is not to carry too much debt. So in essense debt consolidatoin knocks 2 birds out with one stone.
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For more information on regular debt consolidatoin loans and bad credit debt consolidatoin loans, visit http://www.kstreetloans.com - specializing in refinance loans, home equity loans, home equity line of credit (HELOC) and debt consoldation loans.
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