Debt Consolidation

Debt consolidation is just a fancy term for helping you figure out how to make those finances of yours simpler to handle and understand. When you have multiple debts, it can become a hassle to try to sort everything out, ensure they are all paid on time, and what their interest rates are looking like. Since many people have multiple forms of debt to their name, it can be extremely difficult to keep track of, especially since all debts will have a different interest rate for the various amounts owed. Let’s not even discuss how difficult balancing a budget can be with multiple debts, because that opens another world of possibilities.

However, you might be wondering if there is a way to keep it all sorted and easy to understand. Well, that’s where debt consolidation comes into play. It works to convert all of your debt into one single debt with one single interest rate for one single price each month. Debt consolidation, like anything else, has its positives and negatives. Before you decide on whether to jump in or not, you should take a look at both sides of the coin.

Disadvantages

Sometimes, it is not easy to find a debt consolidation loan that will you be accepted for. Typically, this will depend highly on your borrow history, availability of your current credit, and how much you essentially need to borrow. Another thing that can hinder your acceptance is multiple debt consolidations in a row. It doesn’t look very good on your credit file, and it might change how you get credit in the future.

There are even some situations when debt consolidation loans are not appropriate. Seasonal workers or those with an erratic income might want to steer clear of a debt consolidation because of the regular repayments required. These types of loans are only suitable for those who want to make it easier on them and who can commit to making these regular repayments. Debt troubles, like missing payments, might be cause for something like a debt management plan.

There are several advantages to a debt consolidation loan. For one, it can make your finances much simpler to handle and understand each month. Instead of several different debts with various interest rates and payments, you’ve got one single payment with a single interest rate. It also makes it easier when you deal with a single creditor instead of multiple, especially for those who might have experienced difficulties in the past.

Your monthly budget can be easier to work out as well since you can now have a better idea of the money expected of you to repay your debt each month. A debt consolidation loan can also give you an approximate date as to when your debt will be completely paid off. This is great for those who need to focus on the bigger picture and set a goal for themselves to pay it off. No one wants their debt to hang around forever, right?

Sometimes, you might even be lucky enough to score a debt consolidation loan that has lower interest rates than your previous debts. Your debt payments can also be spread out over a longer period, which will reduce your monthly payments. However, you will be paying more interest this way.

Where To Go

If you are looking for a place to speak with and discuss debt consolidation loans, you’re not alone. There are several companies out there that can provide these services for you and help you decide which is the better option for your needs.

Lending Club is one such company that offers you a range of personal loans between $1,000 to $6,000. They even have these loans at APRs between 5.99-percent to 35.89-percent. Those with great credit can see better interest rates. The company is very transparent, making it easy for you to browse for the right options. They even have a great description of the overall process to help you out.

Avant is ideal for those with lower credit scores. It is not a peer-to-peer lender, but it does offer several loans through its special lending program. Those who need more cash quickly can be at an advantage with Avant because you can get funds quickly. They offer loans between $2,000 to $35,000, but they do have higher APRs sitting between 9.95-percent to 35.99-percent.

Conclusion

When the debt becomes too much for you to handle and you’ve got too many circulating at once, it can be beneficial to check out debt consolidation loans. They put everything together in one debt, making it easier for you to pay off what you owe. Sometimes, you can get lower interest rates, and you can even spread out your payments, which might give you lower monthly payments. No matter what your issue is, it is worth it to check out debt consolidation for help with all of your debt issues.

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History Facts - Jonestown

  1. On November 18, 1978, over 900 members of the Peoples Temple, a religious group based in San Francisco, died after drinking poison. It has gone down in history as the second-largest tragedy killing Americans in a single non-natural event, next to the September 11 attacks.
  2. Out of the hundreds of people who followed 'Jones' order, 11 were able to survive, including Hyacinth Thrash, an African-American woman who had been asleep in her cabin. When she awoke the next morning, she saw all the bodies, including her sister, Zipporah Edwards.
  3. Jim Jones was a white minister who preached progressive ideas to a religious sector. During the 1970s, he was at the peak of his popularity, with thousands of members. However, Jones became paranoid, so he decided to move to an agricultural settlement in Guyana.
  4. In November of 1978, US Congressman Leo Ryan decided to check out Jonestown, the settlement the cult leader named after himself. Ryan and his four companions were shot dead by Temple gunmen. Jones persuaded his followers to drink the punch laced with cyanide.
  5. Many people were surprised by the crimes committed by the preacher, but apparently, he had been engaging in cruel acts since his younger years. Tim Reiterman shared that Jones possessed a need to control and deceive people, and felt anger toward those who abandoned him.
  6. Jones was also caught performing animal cruelty as a child. Chuck Wilmore, a childhood friend, shared in The Life and Death of Peoples Temple, a documentary, that Jones had an obsession with death and religion. He was said to admire Adolf Hitler.

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