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Answers About Government Debt Consolidation Loans
Aug 3rd
With all the recent talk about bailouts and stimulus packages, I’m curious how this affects government debt consolidation loans. If the government is handing out money to help major companies, there should be something in place to help bail out real people as well.
The majority of government debt consolidation loans do not require the borrower to put up any collateral. This means that the loan is considered to be unsecured. In many cases, these kinds of consolidation loans are used by people to get rid of credit card debt or for medical expenses.
The way that debt consolidation loans work in most cases is to pay off debts that carry high interest rates with money borrowed at a lower interest rate, such as a home equity loan. This helps to pay of the debt much faster because there is less interest to pay off over the length of the loan.
Most government debt consolidation loans, as mentioned earlier, are unsecured, which means that they do not have collateral such as a home or car attached. The are considered to be personal loans which people can use to consolidate and pay off other debts such as credit cards.
Many banks offer such plans for their customers who have a satisfactory banking history with them. However, interest rates on unsecured personal loans would be higher than a secured home-equity line of credit.
The question is why isn’t Uncle Sam stepping in with more favorable terms for government debt consolidation loans? If they’re willing to help out GM and AIG, then they should be willing to help out my buddy down the street.
Maybe we need to just use initials for our names on the loan applications. And you have to promise to take a vacation and throw a huge party afterwards. And then give yourself a bonus of course.
As wonderful an idea that government debt consolidation loans are, I’m not sure that they are the real answer to debt problems. The majority of individuals wind up in the same financial pickle within a couple of years unless they learn how to manage their money. A solid financial education is better than acquiring more loans.
So while government debt consolidation loans can provide short-term relief to help individuals get back on their feet, they are not the bailout people need to get rid of their money problems. Government debt consolidation loans can be a good option if the circumstances are right for them, but they should not be used wrongfully.
To learn more about government debt consolidation loans, visit http://governmentdebtconsolidationloans-update.info.
About the Author:
About the author: Dean Byler is dedicated to all things dealing with money and how it works. Learn more about Government Debt Consolidation Loans at his blog which deals with Credit Card Debt and other financial matters.
What Are Government Debt Consolidation Loans?
Jul 31st
With all the recent talk about bailouts and stimulus packages, I’m curious how this affects government debt consolidation loans. If the government is handing out money to help major companies, there should be something in place to help bail out real people as well.
Many, but not all, government debt consolidation loans are unsecured. Unsecured debt consolidation loans are loans that individuals take out from a bank without placing any collateral for the loan. Such loans are used to pay off credit card debt or medical bills.
The way that debt consolidation loans work in most cases is to pay off debts that carry high interest rates with money borrowed at a lower interest rate, such as a home equity loan. This helps to pay of the debt much faster because there is less interest to pay off over the length of the loan.
Government debt consolidation loans are not secured by any collateral like a home or a car. These loans are primarily personal loans. They offer a viable option for people to get rid of debt for credit cards if they don’t have collateral to secure a more traditional loan.
Customers with a good history with their bank are often good candidates for these kinds of loans. One drawback, however, is that they often have higher interest rates since they are unsecured. Secured loans typically have a much better interest rate.
In today’s economy, a lot of people are wondering why the feds seem willing to help mega corporations, but are dragging their feet when it comes to helping out the average man or woman trying to make a living by stepping in with more favorable rates for government debt consolidation loans. For some reason, it just doesn’t seem quite right.
Perhaps we should all incorporate ourselves before filling out the loan applications. And, of course, we have to take an expensive vacation paid for by our business and throw a huge party to celebrate getting bailed out. Afterwards, we can give ourselves and all our friends a huge bonus just for the heck of it.
As wonderful an idea that government debt consolidation loans are, I’m not sure that they are the real answer to debt problems. The majority of individuals wind up in the same financial pickle within a couple of years unless they learn how to manage their money. A solid financial education is better than acquiring more loans.
When used properly, government debt consolidation loans can be extremely beneficial for individuals dealing with excessive financial debt. These kinds of loans should not, however, be seen as the only or even the best route to follow. Government debt consolidation loans should only be applied in the way in which they were designed to be used.
For more information about government debt consolidation loans, visit http://governmentdebtconsolidationloans-update.info.
About the Author:
Author Dean Byler is interested in just about everything dealing with money and how it works. Find out more about Government Debt Consolidation Loans at his blog which deals with Credit Card Debt and other financial matters.