A consolidation loan is simply a loan that pays off all your other loans. Once you consolidate a loan, you owe that money to the new lender, not to the original creditor. A consolidation loan may lower your monthly payments, either by reducing your interest rate or by extending the length of time for repayment.
1. Debt Consolidation ??????
The word consolidate means to bring together. To
make Different things into one.
A consolidation loan means taking all of your debts
and using a service of loan to combine them into
one big debt.
A consolidation loan usually means fewer
payments to make each month, since all the
individual debts are now one, and a smaller
payment.
2. How a Debt Consolidation
Loan Works for You?
Reducing Your Monthly Payments.
Improve your Credit Rating.
Reducing your interest rates that
you have been paying for all loans.
3. Advantages of Debt Consolidation Loan
Debt consolidation loans usually have a lower
Interest rate and tend to be spread over a
longer period. So your weekly or monthly
payments become smaller.
Debt Consolidation can manage your budget in an
easier way so, you only have to manage one loan.
You will have to pay a lower interest rate with a
consolidation loan.
4. Types of Debt Consolidation loan
There are most likely 2 types of debt
consolidation loan available in every
financial market as :
• Secured Debt Consolidation
• Unsecured debt consolidation
5. Secured Debt Consolidation
Secured debt consolidation is the
loan that is tied to an asset as a
security in the case while you are
not able to repay the loan amount.
6. Unsecured Debt Consolidation
Unsecured Debt Consolidation is the
Loan that doesn't require any kind
of asset as security it is just
depend on your credit history
because you are considered high
risk for a lender.
7. Secured Factors
Secured Debt Consolidation
• Easier to obtain from a lender.
• Higher borrowing amount allotted
• Lower interest rate with tax deduction
• Longer repayment terms
9. Key Fact of Debt Consolidation
A debt consolidation loan can provide an
opportunity to improve your credit if you use it as a
financial plan, as opposed to just shifting debt
around.
10. About Us
Pounds to Pocket Loan is staffed with experienced
corporate finance specialists, investment bankers
and financial analysts As we are the leading
corporate firm of financing.