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Monday, October 13, 2008
considering debt consolidation
I have been trying to determine lately, with the economy being in the state it is in, whether it is a good idea to pay off all my bill balances with my extra cash, or save my extra money for when the whole economy collapses. Well, I went online and began researching this and I came across some information on debt consolidation that I found quite helpful. I never really thought about this, but you can really save a lot more money if you pay off your bills more quickly. With interest building daily it is really a very good idea to get those bills paid off. When I looked at my own bills, I realized that paying the minimum monthly payments was getting me nowhere fast. I needed a better financial plan, but I really didn't have a clue where to begin. I actually was so impressed with what I read, that I decided I need further help in reducing my debt and so I contacted a debt consolidation company and got the ball rolling on getting my bills paid off fast. I didn't really realize how much that compounding interest was adding up and pulling money out of my pocket each month and year that it was hanging unresolved.
Now I really feel good because the debt consolidators helped me get a real grip on all my monthly payments. They stopped the interest from accruing and helped me set up budgeted monthly payments to help get my debt paid off much more quickly than I could ever have done on my own. I never realized all of the services a debt consolidation company provides.
It has been wonderful working with someone who could really help me improve my financial situation without me having to pay out all my extra cash to bills every month. Now I have a plan and I know that if I keep up with my payments every month, I should have all my debt paid off within 15 months, and I will also have money every month to put aside in case of emergency. Now I can rest knowing that I am saving and paying down my debt at the same time. What a relief!
Posted by Rick at 11:53 AM