It’s the day you’ve been waiting for the last two weeks… payday and the only time your face lights up and you actually go to the office with a lot of wonderful, dreamy thoughts in your head — such as how fast you’ll be in able to bolt out of the office and get you down to the nearest mall and you can already smell the caflo you plan to order from Starbucks. Either way, you seem compelled to impulsively spend all the hard-earned money on something that in all probability-Hood you can do without. Like this dress, you will probably wear one off or the Egyptian silk sheets that you have been drooling over ever since you noticed Jessica Simpson at Newlyweds sleeping on in luxurious comfort. Pity they are actually worth $ 1400… but as you always tell yourself- you deserve it. Besides, what is the harm in rewarding yourself for a job well done? You deserve some pampering too.
You may even find yourself making plans at some luxurious spa, trying out their relaxing (not to mention, extremely expensive) facials, massages or treatments. After all, you work hard and then you definitely deserve it, as you’ve been stressed out all month long from your hectic schedule and tight deadlines.
On the other hand, have you ever thought of saving… even occasionally putting a portion away for a rainy day? Have you thought about your future? And if it actually involves the Egyptian silk sheets that you just bought or the designer coffee that you simply can’t seem to get enough of – is it really worth it?
Unfortunately for many, sooner or later reality sets in, and when it does, it strikes them as a Category 5 Hurricane and they wake up they realize (hopefully not too late) how deep they have buried themselves in a repressive amount of debt. And they also realize that they have absolutely nothing to fall back on to get themselves out. You can simply hand in the towel and declare bankruptcy (many do) however, an alternative, less stressful and smarter way to go is to, at least initially, look at getting a debt consolidation loan.
The idea of a debt consolidation loan may not be all that enticing to most of the debt saddled, but then again, what is the alternative-bankruptcy or paying minimum rates on your 20% credit card interest for the next 20 years? Unfortunately for those of you who have nothing in your savings or other assets to take advantage of, this may be your best bet, and perhaps the first truly Smart financial decision you’ve made in quite a bit.o
Who offer debt consolidation loans?
You are clearly aware that a plethora of companies offer debt consolidation loans, just the fact that you are reading this article attests that you have done some type of internet search related to debt or debt consolidation. You just need to be honest about your finances or what it was that you did with your money (when you still had some), so whoever you decide to go with trying to make sure that debt consolidation loans will be able to give you a precise scenario of your financial present and future.
The past is … as they say, history. You really have no choice but to move on, walk away from your past mistakes and hope you have learned something useful. And then incorporate these lessons into primebanks.org in your future cash transactions, hoping against hope that your debt consolidation loan will be approved so you can take on the overwhelming burden of debt you have saddled yourself with and let it go a long way. afterwards.
As You Look For A Debt Consolidation Loan
Make sure you do your due diligence by shopping around and asking questions when you feel lost by “financial jargon” or the whole process in general. Doing your part will greatly increase your chances or work with a reputable company that is not out to take advantage of your current poor financial situation.
One last bit of advice, almost all loan officers work on commission and so it is in their best interest to… 1) Make sure you get the loan and 2) Charge you the highest interest rate possible and the highest possible fees and still make the deal. That said, don’t ever take the first quote you get for rate and closing costs as the best deal you can get because it is very rare. While shopping, make sure the companies you work with know that your shopping around tells them straight out that you want to give your business to who can come up with the best deal and who is upfront and honest from the get- bark.
Never forget that you are responsible (regardless of your current financial condition) and if you do not feel comfortable with your lender or what is being presented then simply move on until you find someone who treats you with the respect and dignity you deserve.