Bankruptcy or Debt Consolidation, What to Do?

People suffering from massive credit card debt have contemplated whether they should file for bankruptcy or get a debt consolidation loan for years. The short answer is, if you can get the loan, do that.

Yeah bankruptcy sounds nice. You don’t owe anybody anything afterwards, though you may have to liquidate some of your assets. The problem is the huge black mark this leaves on your credit report. This is a black mark that never goes away. The seven-year rule you always hear about will not help. Continue reading »

Debt Consolidation Loans

Owing money to multiple creditors can be stressful, not to mention time consuming, when you are faced with making several individual payments every month. Applying for a debt consolidation loan will not only create smaller monthly payments, but will also allow you to make one simple installment. Continue reading »