Consolidating debt into one loan usa
You don’t need debt rearrangement—you need debt reformation.Most of the time, after someone consolidates their debt, the debt grows back. They don’t have a game plan to pay cash and spend less.In other words, they haven’t established good money habits for staying out of debt and building wealth.
Debt settlement companies also charge a fee for their "service." Often, the fee is anywhere from 15–20% of your debt.
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Let’s say you have ,000 in unsecured debt—think credit cards, car loans and medical bills.
The debt includes a two-year loan for ,000 at 12% and a four-year loan for ,000 at 10%.
Think about it this way: If you owe $50,000, your settlement fees would range from $7,500–10,000.