Debt Consolidation is here

[millerwilson]

Getting into debts is easy whereas overcoming it is very complicated. If the burden of numerous debts and other non-payments has ensnared you so severely that you are having sleepless nights, its good time now to eliminate all the bothering debts and give yourself a sound sleep. Unsecured debt consolidation loan gives you the opportunity to consolidate your multiple debts into a single manageable loan.
An unsecured debt consolidation loan as the name suggests is not secured. This implies that it is not tied to any collateral like automobile, house or any other property. There is a fixed repayment period that enables the borrower to repay back conveniently. The monthly installments can be arranged according to the financial status of the borrower.
The rate of interest on such a loan is lower than the combined interest rate you pay to different creditors. The borrower has to make the loan lender aware of the total amount of debt and the different creditors. Now the lender himself will deal with all of them.

 

[james7]

Americans have paid off nearly $1 trillion in debt over the past two years, although the pace of repayment has slowed, according to a regional Federal Reserve report released Monday. Total consumer debt was $11.6 trillion as of Sept. 30; down 7.4%, or $922 billion, from the peak reached in the third quarter of 2008, according to the Federal Reserve Bank of New York. Consumer indebtedness fell another 0.3% in the third quarter, after a 3.3% decline in the prior quarter. In addition, total household delinquency rates fell for the second consecutive quarter. The report said 11.1% of outstanding debt was in some stage of delinquency at the end of September -- compared to 11.4% on June 30, and 11.6% a year earlier.