Is a Debt Consolidation Loan Right For You?
What many people don’t realize, though, is that unlike the debt settlement solution offered by FaithWorks Financial, debt consolidation does not reduce the overall amount of your debt.
With a debt consolidation loan you will still pay back 100% of your debt, plus interest. A debt consolidation loan basically transfers your debt from one place to another.
If you are seriously considering this approach you should also know that debt consolidation loans are often “secured” loans that cannot be lowered or negotiated. This means that your personal assets (like your home or car) could be at risk in the event of default.
As with other debt relief solutions, it’s important that you have complete information before making a decision.
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