loss of home

Hi jade

Welcome to forums. debt consolidation program covers all the unsecured debts which are put into one reduced amount. This amount is to be paid each month at a lower rate of interest.

Debt consolidation program does not require any of your assets to be pledged as collateral. So, you don't have to worry about your home while taking the consolidation program with this company. Moreover, it includes some benefits which have been exclusively designed to clear the debts faster.

http://www.debtconsolidationcare.com/benefits.html

Please register yourself with this company to get in touch with the trained consultant in your locality. He will negotiate with your creditors for a reduced amount of your debt and offer a monthly payment which will be suitable to your present needs. His budgeting and counseling programs will help you to keep a check on your finance and attain a debt free life.

Regards
Roxette

[quote=jade]If I consolidate my bills will I also forfeit my home?[/quote]

Hi,

I am glad that you are inquiring about this issue because it is confusing to many. But you are smart for looking into consolidation because it is the best way to take care of your debts.


Now there are two different ways that people consolidate their loans.


The one that you are probably referring to is the type of consolidation that would provide you with a large low interest loan.


With the consolidation loan, the borrower usually has to borrow a consolidation loan against the value of their home. Meaning that they have to use their home as collateral in order to obtain this sort of large loan.



In many cases, this type of loan is obtained through a second mortgage on your home or by borrowing against some other form of collateral. So technically, if you default on this sort of consolidation loan, you could lose your home.



So, if you obtain this kind of loan, you have to be extremely careful. Even though they usually come with low interest, when you get late with payments and they start putting penalties on your account, then you could easily get behind on your payments. This would not fare well for your credit.

However, there is another way to consolidate where you do not have to use a loan. When you register with this site, you could get in touch with a consolidation program that does not require a loan.



With this sort of program, the representative will negotiate with your creditors in order to lower the interest rates on your debt. This will in effect reduce your monthly payments.



You should take this approach if you are capable of making monthly payments with your salary.