Thai books stores – Phuut Thai http://phuutthai.com/ Tue, 24 May 2022 02:23:40 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://phuutthai.com/wp-content/uploads/2021/10/icon-5-120x120.png Thai books stores – Phuut Thai http://phuutthai.com/ 32 32 Key Development Strategies of Debt Consolidation Market 2022 Implemented by Major Players: Marcus by Goldman Sachs (US), OneMain Financial (US), Discover Personal Loans (US), Lending Club ( United States), Payoff (United States) https://phuutthai.com/key-development-strategies-of-debt-consolidation-market-2022-implemented-by-major-players-marcus-by-goldman-sachs-us-onemain-financial-us-discover-personal-loans-us-lending-club-united-sta/ Tue, 24 May 2022 02:23:40 +0000 https://phuutthai.com/key-development-strategies-of-debt-consolidation-market-2022-implemented-by-major-players-marcus-by-goldman-sachs-us-onemain-financial-us-discover-personal-loans-us-lending-club-united-sta/ Global market research examines the performance of Debt Consolidation 2022. It contains an in-depth analysis of the state of debt consolidation and the competitive landscape globally. The Global Debt Consolidation can be obtained through market details such as growth drivers, latest developments, Debt Consolidation business strategies, regional study and future status of the market. The […]]]>

Global market research examines the performance of Debt Consolidation 2022. It contains an in-depth analysis of the state of debt consolidation and the competitive landscape globally. The Global Debt Consolidation can be obtained through market details such as growth drivers, latest developments, Debt Consolidation business strategies, regional study and future status of the market. The report also covers information including the latest opportunities and challenges in the plastic additives industry, as well as future historical and debt consolidation trends. It focuses on the dynamics of debt consolidation that are constantly changing due to technological advancements and socio-economic status.

Pivotal players studied in the Debt Consolidation report:

Marcus by Goldman Sachs (US), OneMain Financial (US), Discover Personal Loans (US), Lending Club (US), Payoff (US)

Get a free copy of the 2022 Debt Consolidation report: https://www.maccuracyreports.com/report-sample/401065

A recent Debt Consolidation market study analyzes the crucial factors of Debt Consolidation based on the current industry situation, market demands, business strategies adopted by Debt Consolidation players and their growth scenario. This report isolates Debt Consolidation based on key players, type, application, and regions. First of all, Debt Consolidation report will offer in-depth knowledge of company profile, their core products and specifications, revenue generated, cost of production, contact person. The report covers forecasts and analysis of debt consolidation at global and regional levels.

COVID-19 impact analysis:

In this report, pre and post COVID impact on market growth and development is well described for better understanding of debt consolidation based on financial and industry analysis. The COVID outbreak has affected a number of Debt consolidation is not a challenge. However, the dominant players in the Global Debt Consolidation are determined to adopt new strategies and seek new funding resources to overcome the growing barriers for market growth.

Access full report description, table of contents, table of figure, chart, etc. @ https://www.maccuracyreports.com/reportdetails/reportview/401065

The types of products uploaded in debt consolidation are:

Credit card debt, Overdrafts or borrowings, Other

The main applications of this report are:

Company, Private

The geographic region of debt consolidation includes:

Debt consolidation in North America (United States, North American countries and Mexico),
European market (Germany, French plastic additives market, United Kingdom, Russia and Italy),
Asia-Pacific market (China, plastic additives market in Japan and Korea, Asian country and Southeast Asia),
South America plastic additive regions include (Brazil, Argentina, Republic of Colombia, etc.),
Plastic Additive Africa (Saudi Peninsula, United Arab Emirates, Egypt, Nigeria and South Africa)

The Plastic Additive report provides past, present and future Plastic Additive industry size, trends, and forecast information related to expected revenue, growth, Plastic Additive, and Plastic Additive supply scenario. Also, the opportunities and threats for the development of the debt consolidation forecast period from 2022 to 2029.

Please click here today to purchase the full report @ https://www.maccuracyreports.com/checkout/401065

In addition, the Plastic Additives report gives information about the company profile, market share and contact details, along with an analysis of the Plastic Additives industry value chain, rules and methodologies. of the plastic additives industry, the circumstances causing the growth of debt consolidation and the constraint blocking the growth. The scope of debt consolidation development and various business strategies are also mentioned in this report.

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Global Consumer and Business Debt Consolidation Market Share History and Forecast 2022-2030 – The Daily Vale https://phuutthai.com/global-consumer-and-business-debt-consolidation-market-share-history-and-forecast-2022-2030-the-daily-vale/ Sat, 21 May 2022 21:28:28 +0000 https://phuutthai.com/global-consumer-and-business-debt-consolidation-market-share-history-and-forecast-2022-2030-the-daily-vale/ This major report presents a clear view of the current performance of the global consumer and corporate debt consolidation market and its likely development in the coming years. The key findings of the Global Consumer and Corporate Debt Consolidation Market report focus on changing Global Consumer and Corporate Debt Consolidation Market dynamics, substantial new opportunities, […]]]>

This major report presents a clear view of the current performance of the global consumer and corporate debt consolidation market and its likely development in the coming years. The key findings of the Global Consumer and Corporate Debt Consolidation Market report focus on changing Global Consumer and Corporate Debt Consolidation Market dynamics, substantial new opportunities, critical forces likely to contribute to the growth of the global consumer and corporate debt consolidation market. in both advanced and developing economies.

This report focuses on the major players in the global consumer and corporate debt consolidation market:
Discover Personal Loans (US), Lending Club (US), Payoff (US), SoFi (US), FreedomPlus (US)

Get a FREE sample PDF copy of the report @ https://marketstrides.com/request-sample/consumer-and-corporate-debt-consolidation-market

The report undertakes research and analysis that helps market players understand the global Consumer and Business Debt Consolidation in Advanced and Developing Economies market status, future market scenarios, opportunities and to identify solutions on how to organize and operate in the Global Consumer and Business Debt Consolidation. market. The report begins by examining how the global consumer and corporate debt consolidation market has evolved through the pandemic to this post-pandemic point, the key forces at work, the implications of the covid pandemic -19 on business and policy makers. Most importantly, the report carried out an in-depth analysis of the selected segments and countries.

A detailed analysis of the capital-intensive market companies, their strategic trends and their impacts on industry production and growth are studied in the report. The objective of the report is to showcase forces that would impact different parts of the current global Consumer and Business Debt Consolidation industry. The report aims to map the risks faced by different regions, countries, and segments operating in the market, along with offering a range of options and responses. It recommends best practices to improve efficiency, protect against future risks as well as supply chains against possible threats. Finally, the report helps market players to anticipate trends and seize market opportunities with the data and forecast provided in the report.

Sector Consumer and Business Debt Consolidation: Main form of product:
Credit card debt, Overdrafts or borrowings, Other

Apps containing:
Company, Private

Global Consumer and Business Debt Consolidation Market Research Report Offers–

— The report discusses the main mergers and acquisitions, organic investments including R&D.
— The report presents a study on the response of major manufacturers to understand the elasticity of target markets.
– The report provides a detailed assessment of the long-term outlook of the global Consumer and Business Debt Consolidation Market.
– The report assesses business segments, products, services, and supply channels of the global Consumer and Business Debt Consolidation Market.
– The report highlights the challenges faced by global Consumer and Business Debt Consolidation Market players in expanding into new sectors, trading in certain goods or products during the pandemic, and expanding into new ones. consumer segments.
– The report highlights both opportunities and threats shaping the global consumer and corporate debt consolidation market, particularly the consumer segments.
– The report examines the Global Consumer and Commercial Debt Consolidation Market’s financial structure, business and operating models.
— The report identifies the innovation strategies adopted by well-established companies in the global Consumer and Corporate Debt Consolidation market.

Key questions answered by the report include:

  • Which new builders are strongly growth oriented and likely to achieve aggressive growth in the coming years?
  • What is the largest geographical area in the Global Consumer and Business Debt Consolidation Market?
  • How Did the Pandemic Diversify Impact on Global Consumer and Corporate Debt Consolidation Market GDP in Selected Countries?
  • What is the global economic outlook for the Consumer and Business Debt Consolidation industry?
  • What are the performance indicators of the Consumer and Commercial Debt Consolidation sector between 2019 and 2020?
  • How are market players recovering from the covid-19 pandemic?
  • What is the road to recovery from the covid crisis?
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    How Debt Consolidation Loans Work https://phuutthai.com/how-debt-consolidation-loans-work/ Fri, 20 May 2022 07:00:00 +0000 https://phuutthai.com/how-debt-consolidation-loans-work/ Debt consolidation is the consolidation of several debts into a single loan with a single monthly payment and a single interest rate (hopefully lower). This can help you stay organized and possibly save money, especially when you have a lot of debt and you don’t seem to be making any progress in paying off what […]]]>

    Debt consolidation is the consolidation of several debts into a single loan with a single monthly payment and a single interest rate (hopefully lower). This can help you stay organized and possibly save money, especially when you have a lot of debt and you don’t seem to be making any progress in paying off what you owe.

    However, not all debt consolidation loans are the same. Understand how they work and weigh the pros and cons of these loan products before deciding if they are right for you financially.

    What is a debt consolidation loan?

    A debt consolidation loan is a way to refinance your debt. You will apply for a loan for the amount you owe on your existing debts and, once approved, you will use the funds to pay off your outstanding debts. Then you will repay the new loan over time.

    When choosing a debt consolidation loan, you will need to assess features such as:

    • Type of loan: The most common types of loans include personal loans, credit cards with a 0% initial APR, 401(k) loans, and home equity loans.
    • Loan conditions : The loan amount, interest rate, and loan term depend on the type of loan you get and your financial health.
    • Secure versus insecure: With a secured loan, you must post collateral. For example, a home equity loan is secured by your home. If you are late in payment, the lender can take this security to settle your outstanding balance. If you don’t want to risk your assets, consider sticking with your unsecured options, such as personal loans and 0% APR credit cards.

    How does a debt consolidation loan work?

    Most debt consolidation loans are fixed rate installment loans, which means the interest rate never changes and you make a predictable payment each month. So if you have three credit cards with different interest rates and minimum payments, you can use a debt consolidation loan to pay off those credit cards, leaving you with one monthly payment to manage instead of three.

    Let’s say you are paying off credit card debt. Here’s how a debt consolidation loan can help you save on interest charges:

    • Card 1 has a balance of $5,000 with an APR of 20%.
    • Card 2 has a balance of $2,000 with an APR of 25%.
    • Card 3 has a balance of $1,000 with an APR of 16%.

    If you pay off those credit card balances over 12 months, your interest charges would be $927. But let’s say you take out a 12-month personal loan for the amount you owe – $8,000 – with an APR of 10%. If you pay off the loan in one year, you reduce the interest charges to just $440. To calculate savings on your own debt, try using a credit card repayment calculator and a personal loan calculator.

    Benefits of a debt consolidation loan

    If you’re looking to save money, streamline your monthly payments, and circle the payment date on your calendar, debt consolidation may be right for you. Here is a breakdown of the main benefits:

    • Pay off your debts faster. Making the minimum payment on your credit cards can stretch your repayment schedule for years. A debt consolidation loan can put you on the path to faster repayment.
    • Save on interest charges. Generally, if you qualify for a lower rate than you are currently paying, you will save money on interest charges. Since the beginning of May 2022, the average credit card interest rate was 16.41%, compared to the average personal loan rate of 10.28% in January 2022.
    • Simplify your monthly payments. It’s easier to manage one monthly payment than multiple payments with different due dates. This reduces your chances of missing payments, which is good for your credit.
    • Repay on a fixed schedule. Many debt consolidation loans are fixed payment loans, which means you’ll know exactly when you’re debt free. It can help motivate you while you pay off your debts.

    Risks of a debt consolidation loan

    You will need to weigh your immediate needs against your long-term goals before moving forward. Some people choose to consolidate their debt to save money and organize their monthly payments, but there are downsides to consider.

    • This will not solve all your financial problems. Once you’ve used the debt consolidation loan to pay off your debt, you might be tempted to start using your credit cards again. This increases your overall debt, which can impact your credit and make it harder to pay off your balances.
    • There may be an initial charge. Some debt consolidation loans come with fees, including origination fees, balance transfer fees, prepayment penalties, annual fees, and more. Before you take out the loan, ask the lender if any of these apply.
    • You can pay more interest. This can happen in two ways. Depending on your credit score, debt-to-income ratio, and loan amount, you may pay a higher interest rate than you would have paid on the original debt. Or, if you use the debt consolidation loan to lower your monthly payments by extending your repayment term, you may end up paying more interest in the long run.

    Debt Consolidation Loan Interest Rates

    When you pay off a debt consolidation loan, you’re not only paying back the amount you borrowed, you’re also paying an extra amount each month in the form of interest. Interest rates on debt consolidation loans generally range from 5.99% to 35.99%. A higher interest rate will cost you more over the life of the loan than a lower interest rate. Each lender has different criteria for setting rates, so shopping around can help you find the best deal.

    Typically, lenders check these factors when deciding if you qualify and setting your interest rate:

    • Your credit score: Borrowers typically need a credit score in the mid-600s to qualify for a debt consolidation loan, and a higher score can help you get a lower interest rate.
    • Your DTI ratio: Your debt-to-income ratio (DTI) tells lenders how much of your monthly income is spent paying down debt. Lenders tend to look for a lower DTI ratio.
    • Revenue: The lender will verify your employment and verify that you earn enough to make payments.

    If you don’t quite meet the credit requirements, you may be able to find a lender willing to give you a loan, even if you can get a higher interest rate. If this is your situation, consider adding a co-signer to the loan. This person promises to take over the payments if you fall behind. She must therefore understand what this implies before saying yes.

    How to Apply for a Debt Consolidation Loan

    There’s a bit of legwork involved, but it will pay off if a debt consolidation loan saves you money. Start by applying for your credit, comparing quotes from multiple lenders, and checking your chances of getting approved for a loan.

    • Understand your finances. A good credit rating gives you a better chance of qualifying for a debt consolidation loan and getting a good interest rate. Check your credit rating before applying to see if it needs work.
    • Compare lenders’ terms. Searching for the best deal can help you save money on debt consolidation. Get quotes from multiple lenders and compare interest rate, fees, loan term and monthly payment.
    • Get prequalified. Some lenders offer prequalification, which gives you an idea of ​​the type of offers you might receive. Many can only complete a simple credit application, which means prequalifying won’t affect your credit score.
    • Gather what you need to apply. When applying for a debt consolidation loan, you may need your social security number and contact information, an estimate of your monthly debts, and a pay stub and employer information to prove your revenue.

    Once you are approved, the lender can disburse your loan proceeds to your creditors or send the funds to you. Make sure the original debt is paid off, then get to work on your new loan. Set up automatic payments or use reminders to make payments on time each month. Over time, you will be debt free.

    At the end of the line

    You may be able to pay off your debt balances much sooner and save a lot of money with a debt consolidation loan. You’ll also enjoy the convenience of making just one payment per month instead of worrying about paying multiple lenders on time. However, you might incur additional costs that you didn’t have before, and you might get a higher interest rate.

    Ultimately, you want to assess your situation and analyze the numbers to decide if a debt consolidation loan is right for you financially. It’s equally important to focus on developing good money management habits over time.

    Learn more:

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    What is debt consolidation? | Accelerate lending https://phuutthai.com/what-is-debt-consolidation-accelerate-lending/ Fri, 20 May 2022 04:21:53 +0000 https://phuutthai.com/what-is-debt-consolidation-accelerate-lending/ The Easiest Debt Consolidation Methods There are several types of debt consolidation methods you may want to use to lower your payments, lower your interest rates, and more. Take a look at some of the easiest debt consolidation methods available to you below. Balance transfer A balance transfer is a type of credit card transaction […]]]>

    The Easiest Debt Consolidation Methods

    There are several types of debt consolidation methods you may want to use to lower your payments, lower your interest rates, and more. Take a look at some of the easiest debt consolidation methods available to you below.

    Balance transfer

    A balance transfer is a type of credit card transaction that occurs when debt moves from one account to another. This type of debt consolidation is generally only used for credit card debt. It can be beneficial to know that you’ll get a lower interest rate that doesn’t go up later.

    Home Equity Line of Credit (HELOC)

    A home equity line of credit (HELOC) is a type of second mortgage that lets you borrow against the equity in your home. You receive a revolving line of credit, which can be replenished once you reach a predefined credit limit, but only as long as you make interest or minimum payments throughout what is known as your drawdown period .

    When you reach the end of your draw period, you enter repayment mode and must make full payment of interest and principal. A lender typically lets you borrow about 80% of your home’s equity.

    However, it should be noted that HELOCs use your home as collateral for the loan. This means you must have equity in a home to get one, you could also lose your home if you stop paying back the amount you borrowed.

    This type of loan can be beneficial for homeowners who know they are in a strong financial position to make their payments, who will also benefit from a lower interest rate and pay less overall.

    Please note that Rocket Mortgage® does not currently offer HELOCs.

    Home Equity Loan

    A home equity loan is also a second mortgage and debt consolidation strategy that allows you to tap into the equity in your property. Lenders typically allow you to borrow around 80% of your home’s equity with a home equity loan. You will receive a lump sum which you repay with a fixed interest rate based on a fixed payment schedule. Just like with a HELOC, you will be putting your home up as collateral for a home equity loan.

    Similar to a HELOC, it’s a good idea to have confidence that you can make your payments throughout the life of your loan and that you’re okay with the debt consolidation for mortgage strategy. Plus, you’ll want to make sure you pay less over time with this option than if you kept all your loans separate.

    Please note that Rocket Mortgage does not offer home equity loans at this time.

    Cash Refinance Loan

    A cash refinance is an option that replaces an old mortgage with a new one whose amount is greater than the amount originally due. It is a method of debt consolidation reserved for mortgage holders. You’ll be tapping into the equity in your home when you opt for a cash refinance.

    If you want to transfer to one convenient payment and are comfortable with the idea of ​​borrowing against the equity in your home, a cash-out refinance might be a good decision.

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    It’s time to rethink debt consolidation https://phuutthai.com/its-time-to-rethink-debt-consolidation/ Thu, 12 May 2022 09:01:54 +0000 https://phuutthai.com/its-time-to-rethink-debt-consolidation/ “Consolidating debt in this way can be a vital lifeline for borrowers, reducing their monthly interest payments and giving them greater control over their monthly finances.” To fight against this inflation, the Bank of England used its main tool: interest rates. The latest increase in the prime bank rate from 0.75% to 1% means rates […]]]>

    “Consolidating debt in this way can be a vital lifeline for borrowers, reducing their monthly interest payments and giving them greater control over their monthly finances.”

    To fight against this inflation, the Bank of England used its main tool: interest rates. The latest increase in the prime bank rate from 0.75% to 1% means rates are now at their highest level since 2009.

    Each item that becomes more expensive puts additional pressure on the pockets of strained consumers. This is taking place against a backdrop where many are already feeling the pressure as we emerge from the economic devastation of the Covid pandemic.

    Research from Pepper Money’s latest Adverse Credit Study found that 81% of people with adverse credit said a £100 increase in their bills would have a significant impact on their finances.

    On top of that, almost a third (32%) of people with bad credit said they had increased their level of debt over the past 12 months and, with the rising cost of borrowing, the cost of service of this debt will only increase. upper.

    Unfortunately, there is not much people can do about the cost of essentials, while there are steps they can take when it comes to managing their monthly debt servicing expenses, which is likely to become more expensive due to recent interest rate hikes. .

    One way to do this is to pay down unsecured debt and revolving credit by increasing secured borrowing, either through a mortgage, new advance, or second mortgage.

    There are always considerations for converting unsecured debt to secured debt and potentially increasing the length of time the debt is repaid. But under the right circumstances, consolidating debt in this way can be a vital lifeline for borrowers, lowering their monthly interest payments and giving them greater control over their monthly finances.

    Consolidating revolving credit in this way not only allows customers to reduce their monthly expenses, but can also give them a realistic path to debt relief, as the balance will eventually be paid off if all payments are made.

    For clients who choose to consolidate their debt, how they do so will depend on their own circumstances and needs. When speed and flexibility are important considerations, a second mortgage can be a good option, with approvals available within 24 hours and loans up to 80% LTV.

    There are so many potential benefits of debt consolidation for so many people, especially in today’s economic environment, yet the concept of debt consolidation remains shrouded in negativity, seen as a desperate measure taken by desperate people.

    I firmly believe that this is an erroneous and very damaging misconception. In fact, rather than being a desperate step, I think consolidating debt in this way can be a very smart and proactive move to take control of spending and pay off outstanding balances. After all, reducing the cost of borrowing is a smart financial decision, and reducing monthly expenses to improve cash flow can have a very positive impact on the lifestyle of many families.

    So, I think it’s time to rethink debt consolidation. Maybe we should even rename it, something like “proactive debt management”. Whatever we call it, however, there is no doubt that brokers have a great opportunity to make a big difference in the lives of their clients right now. Consolidating existing debt could help so many people cope with the rising cost of living. It’s time to make them aware of their options.

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    Vida increases both maximum LTV for debt consolidation and loan size https://phuutthai.com/vida-increases-both-maximum-ltv-for-debt-consolidation-and-loan-size/ Wed, 11 May 2022 11:35:19 +0000 https://phuutthai.com/vida-increases-both-maximum-ltv-for-debt-consolidation-and-loan-size/ Sign up to access MortgageSolutions.co.uk for the latest news analysis, interactive commentary, industry videos and features, all at your fingertips. Vote in our polls, voice your opinion on the news, and watch our weekly roundup articles. Thank you. You have successfully registered for Premium access, please check your email for your temporary password. (Please also […]]]>

    Sign up to access MortgageSolutions.co.uk for the latest news analysis, interactive commentary, industry videos and features, all at your fingertips. Vote in our polls, voice your opinion on the news, and watch our weekly roundup articles.

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    Using a home equity loan for debt consolidation https://phuutthai.com/using-a-home-equity-loan-for-debt-consolidation/ Wed, 11 May 2022 08:04:51 +0000 https://phuutthai.com/using-a-home-equity-loan-for-debt-consolidation/ Editorial independence We want to help you make more informed decisions. Certain links on this page – clearly marked – may direct you to a partner website and allow us to earn a referral commission. For more information, see How we make money. Sometimes it makes sense to put all your eggs in one basket. […]]]>

    We want to help you make more informed decisions. Certain links on this page – clearly marked – may direct you to a partner website and allow us to earn a referral commission. For more information, see How we make money.

    Sometimes it makes sense to put all your eggs in one basket.

    Consolidating your debt can help streamline your repayment plan and hopefully save you money in the long run. But when using your home as collateral to secure your existing debt, either through a home equity loan or a line of credit (HELOC), there are a few additional factors to consider, starting with the fact that a default could end up costing you your home.

    How to Consolidate Debt Using Your Home Equity

    Debt can pile up quickly, and you could find yourself dealing with multiple payments a month for things like your mortgage, credit cards, and student loans.

    “Most consumers are dealing with some type of unsecured debt, and COVID has definitely made it more difficult to manage,” says Jeffrey Arevalo, financial wellness expert at GreenPath Financial Wellness.

    Consolidating your debt means taking out a big loan and using it to pay off your other existing debt. This way, you will only have one loan payment to make each month, ideally with a lower interest rate on that single loan than you have on your other existing loans.

    For example, if your credit card charges you 16% interest on your lingering credit card debt and you consolidate that loan into a home equity line of credit with a rate of around 5%, you’re going to save a lot of money. money on interest.

    “For someone struggling to pay off debt, not growing fast enough, paying high interest rates, or just plain overwhelmed, I would consider debt consolidation,” Arevalo says.

    For those with decent equity in their home, a home equity loan or home equity line of credit (HELOC) may be good tools to consider – if you can qualify. A home equity loan is similar to a traditional loan: you’ll receive a lump sum at the start of your term, then monthly payments (plus interest) until you repay what you borrowed. A home equity line of credit is more like a credit card. It’s a revolving line of credit, which means you choose how much you spend on the line as you go, and then have a repayment period to pay back what you borrowed ( plus interest).

    Is it a good idea to use the equity in your home to consolidate your debt?

    You should seriously think about your repayment plan and whether the underlying behaviors that led to your debt in the first place are going to continue before you take out a home equity loan or debt consolidation line of credit.

    “You want to be so careful when turning unsecured debt into secured debt,” Arevalo says. “If you were to default on a home equity loan or home equity line of credit, you could risk things like foreclosure.”

    Yes, you risk losing your home if you don’t make your payments.

    “I think it’s a dangerous world to borrow from your house to pay off your credit cards, because so often we don’t change our behavior. We end up putting all our piles of debt into one massive pile,” says Craig Lemoinedirector of the Academy for Home Equity in Financial Planning at the University of Illinois.

    But if you do it right and make diligent payments, it can be a way to save money on paying off your debt.

    Taking out high-interest loans and consolidating them into a HELOC or home equity loan “could potentially save you thousands of dollars a month,” says Darren Q. Englishdevelopment loan officer at Quontic.

    Again, make sure you’ve addressed the underlying circumstances that led to your debt in the first place.

    “If it turns out they can save a lot more money on interest and they’re okay with turning unsecured debt into secured debt, that’s when a home equity loan would have meaningful,” says Arevalo. “But any behaviors or circumstances that led to the accumulation of debt in the first place must be taken into account.”

    You’ll want to take a holistic approach to your situation to find out if this strategy makes sense. Think about all your income and debts, other common bills you pay, and your cash flow.

    “Sometimes getting a loan or a consolidation won’t solve that underlying problem. It could just be a band-aid,” Arevalo says.

    Home equity loan vs HELOC for debt consolidation

    The principles of using either product for debt consolidation are the same: you’ll take out your HELOC loan or home loan, use it to pay off existing debt, and then just worry about that existing loan.

    A home equity loan is a more structured traditional loan. You’ll withdraw a lump sum, against your home, and generally consumers can use it to eliminate debt “fairly quickly,” according to Arevalo.

    You will have a fixed interest rate for a home equity loan. This means that you will lock in your interest rate at the start of your loan term and it will not change.

    A HELOC, on the other hand, offers a bit more flexibility. It’s similar to a credit card, and so your payments will vary depending on how much you spend on your line. Your interest rate will also be variable with a home equity loan, which means that if rates go up, you will be subject to higher interest payments.

    With a home equity loan in particular, you’re more likely to have to pay closing costs and get your home appraised, although some lenders require the same for HELOCs. These will be reimbursable costs.

    Advantages and Disadvantages of Using Home Equity for Debt Consolidation

    Advantages

    • Consolidate multiple debts into one payment

    • Save money on interest

    • Simplify repayment (only one payment to worry about, instead of several)

    The inconvenients

    • Convert unsecured debt to secured debt

    • You could lose your home if you don’t make your payments

    • May not qualify for an ideal interest rate

    • Need to have good credit and a decent amount of home equity to qualify for a home equity loan

    Alternative Debt Consolidation Options

    If you’re considering debt consolidation but aren’t sure if it’s right for you, contact a consulting agency who can help you with your decision.

    If you’re worried about turning your unsecured debt into secured debt, a balance transfer credit card might help. You can also get a personal loan depending on the amount of debt you need to pay off. Both of these options have their own pros and cons, so do your research before diving in.

    Whatever you choose to do, “be careful not to just move your debt to different places instead of dealing with it head-on,” says Arevalo.

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    BTL mortgage for debt consolidation https://phuutthai.com/btl-mortgage-for-debt-consolidation/ Tue, 10 May 2022 08:00:00 +0000 https://phuutthai.com/btl-mortgage-for-debt-consolidation/ Summary of the case Buy to rent mortgage Capital raised for £29,000 debt consolidation Recently missed mortgage payment Client living in the property What we have achieved for the client Overcame recent missed mortgage payment Overcome that the client had not yet left the property Capital raised for debt consolidation into one manageable payment method […]]]>

    Summary of the case

    • Buy to rent mortgage
    • Capital raised for £29,000 debt consolidation
    • Recently missed mortgage payment
    • Client living in the property

    What we have achieved for the client

    • Overcame recent missed mortgage payment
    • Overcome that the client had not yet left the property
    • Capital raised for debt consolidation into one manageable payment method
    • Overcame tight rental calculations with the best slicing solution

    The stakes of the case

    In this case, the client wanted to remortgage a property on a rental mortgage, when it was currently the client’s home. They owned another property, which they intended to move into, but during our initial discussions, there were tenants on site.

    The client was waiting for the end of the notice period to take possession of the property in order to move into it.

    Generally, mortgage lenders will not accept a case where the person named on the mortgage still lives in the property. Indeed, it could be a sign that the applicant does not intend to rent the property, which would be against the terms of the mortgage. Most lenders will want to see that the property is already rented to a third party tenant.

    In this case, the lender was happy to accept that the client moved to another property.

    The reason for the mortgage was to pay off debt, credit cards and a loan. So the client was looking to raise capital on the property he was living in to do this and then move into a second property he owned.

    Overcome a Recent Missed Mortgage Payment with a Buy-to-Rent Application

    There were several reasons why fundraising presented a challenge.

    First, the client had missed a mortgage payment 6 months prior to speaking to us. For any mortgage lender, including buy-to-let, this poses an element of risk to a deal. Indeed, anyone borrowing who has not been able to maintain payments on a loan may be vulnerable to facing the same challenges in the future.

    Of course, the circumstances that led to this may have been temporary, but regardless, when comparing two similar applications where this was the only difference, many lenders would not accept this which would be assessed as a recent problem on an applicant’s credit. the story.

    Our adviser overcame this by researching lenders who offered greater flexibility over the applicant’s credit history. When the advisor pursued a policy decision, the lender took that factor back into the application and it was manually assessed by the lender for viability and approved.

    Using top-slicing to overcome narrow rental coverage in the affordability calculation

    Our second challenge, on raising the necessary funds, was that the rent calculation for the security property was very tight. This meant that rental income alone did not justify the affordability calculation, for the loan the client needed.

    Our advisor overcame this problem by looking for lenders who could offer the client “top slicing”.

    This is where a lender will consider an applicant’s excess personal income, to support a calculation of mortgage affordability.

    Some lenders will offer a higher severance, as they are happy to accept that, if tenants stop paying rent in order to cover the mortgage payment, the mortgage holder could and would use their personal income in the meantime to maintain mortgage payments.

    This is a very useful area of ​​criteria for many applicants with low rental income, but who have excess personal income.

    In this case, our advisor was able to raise capital up to 75% of the loan to value, which generated the total sum the client needed to pay his outstanding debts from credit cards and a loan .

    If you are looking to remortgage a buy to let property and you have experienced issues with your credit history, we may also be able to help and raise capital for you.

    Contact an advisor directly by calling our toll-free number above or inquire online.

    Think carefully before securing other debts on your property. Your property can be repossessed if you do not continue to pay your mortgage.

    By consolidating your debts into a mortgage, you may have to pay more over the entire term than you would with your existing debt.

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    Credello: When should you use debt consolidation or debt settlement? https://phuutthai.com/credello-when-should-you-use-debt-consolidation-or-debt-settlement/ Sat, 07 May 2022 15:00:05 +0000 https://phuutthai.com/credello-when-should-you-use-debt-consolidation-or-debt-settlement/ NEW-YORK – May 7, 2022 – ( Newswire.com ) If you’re struggling with debt, you’ve probably researched repayment options. Two of the most popular ways to get rid of debt fast are debt consolidation and debt settlement. But when it comes to settling debt, there are a few things you need to consider because the […]]]>

    NEW-YORK – May 7, 2022 – (

    Newswire.com

    )

    If you’re struggling with debt, you’ve probably researched repayment options. Two of the most popular ways to get rid of debt fast are debt consolidation and debt settlement. But when it comes to settling debt, there are a few things you need to consider because the two have very different outcomes.

    What is debt consolidation?

    Debt consolidation is when a person combines several debts into one large loan. This can save a lot of money since the interest rates on debt consolidation loans are generally lower than the interest rates on individual debts. Debt consolidation can also help you reduce your debt repayments, which is especially important if you have high-interest debt.

    What is debt settlement?

    Debt settlement involves negotiating with your lenders to reduce the amount of money you need to repay. This can be a good option if you are struggling to pay off your debts and want to see them go down. However, debt settlement can also have negative consequences, including increased interest rates and lower credit ratings.

    Also, settling the debt can have unintended consequences when it comes time to file your tax return. Because you used currency (credit) to buy things but didn’t pay it back to your original creditor, the IRS will consider your settlement balance as income. This can lead to significant penalties and tax bills, especially if it puts you in a higher tax bracket.

    When should you use debt consolidation rather than debt settlement?

    Debt consolidation is generally a better option than debt settlement if you have multiple creditors that you need to repay. Debt consolidation can lower your payments and potentially save you money on interest rates. If you’re not sure if it’s worth it, consider using a debt consolidation calculator to crunch the numbers.

    One of the downsides of debt consolidation is that it can cause your credit score to drop temporarily due to the strain on your credit report. However, the decrease in your credit utilization ratio should offset this temporary impact on your score. Most debt consolidation loans also require direct debits from your bank account. If you end up not being able to meet your payments, it could lead to additional debt, overdraft fees, and greater financial hardship.

    Debt settlement, on the other hand, is a good solution when there is only one creditor to whom you are indebted and you need to find a solution to your financial difficulties. However, the settlement may have negative consequences, including an increase in interest rates and a decline in credit ratings. Additionally, settling the debt can have unintended tax consequences since the IRS considers it income.

    Are there options other than debt consolidation and debt settlement?

    There are a number of other options you can explore, such as working out a payment plan with your creditor, working with a credit counselor, or filing for Chapter 7 bankruptcy. You can also consider adding more sources of income to your finances through side gigs or second jobs, adjusting your budget, cutting unnecessary expenses (even if only temporarily until your debt be reimbursed) or ask friends and family for help.

    The bottom line

    Debt consolidation can be a great option for some, while debt settlement is more convenient for others. It is important to weigh the pros and cons before making a decision.

    Press Release Service by

    Newswire.com

    Primary source:

    Credello: When should you use debt consolidation or debt settlement?

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    5 Best Debt Consolidation Options https://phuutthai.com/5-best-debt-consolidation-options/ Thu, 05 May 2022 22:41:15 +0000 https://phuutthai.com/5-best-debt-consolidation-options/ Getting out of debt is difficult, especially when you have multiple creditors. If you’re juggling different accounts, payment amounts, and deadlines, you might be considering debt consolidation. Debt consolidation is the strategy of consolidating multiple debts into one payment. It can save you money in interest, help you pay off debt faster, simplify your finances […]]]>

    Getting out of debt is difficult, especially when you have multiple creditors. If you’re juggling different accounts, payment amounts, and deadlines, you might be considering debt consolidation.

    Debt consolidation is the strategy of consolidating multiple debts into one payment. It can save you money in interest, help you pay off debt faster, simplify your finances and give you peace of mind.

    1. Balance Transfer Credit Card

    You’ll need a balance transfer card with a high enough credit limit to support the balances you roll over and a low enough ​Annual Percentage Rate (APR)​ to make it worthwhile. the The best balance transfer cards often come with zero interest or a very low interest rate for an introductory period of up to 18 months.

    A balance transfer card can be a good way to consolidate your debt if you pay off the card before the introductory rate expires and you don’t accumulate new debt.

    Use a credit card balance transfer calculator to see how long it will take to pay off your balances.

    Advantages The inconvenients
    • Faster and easier to get than many other loans
    • Possibility to save money if the debt is paid during the introductory period
    • No collateral is required, so there is no risk of losing assets
    • Doesn’t address bad spending habits that caused debt
    • Typical fees of 3-5% of the amount transferred in addition to the balance
    • APR after introductory period is likely higher than other loans
    • Pull hard on your credit report

    Using a balance transfer credit card is best for those who are disciplined and will avoid going into debt on their existing credit cards once the balances are transferred to the new card. If you choose to use a balance transfer credit card, have a plan to pay off the debt before the credit card’s introductory rate expires.

    2. Home Equity Loan or Home Equity Line of Credit (HELOC)

    Home equity is the difference between the appraised value of your home and the amount you owe on your mortgage. If you own a home with sufficient equity and a good credit history, you can borrow some of that equity at an affordable rate to consolidate your debt. Many home equity borrowers use the money to pay off higher interest debt, such as credit cards.

    Your home equity borrowing options include home equity loans, which give you a lump sum at a fixed rate, and HELOCs, which give you a line of credit you can tap into at a variable rate. Both can be good options for debt consolidation if you have enough equity to qualify.

    Advantages The inconvenients
    • Fixed rate and fixed monthly interest for home equity loans
    • Larger loan amounts
    • Long repayment terms
    • Lower interest rates than credit cards or personal loans
    • Variable Rates for HELOCs
    • The house is the collateral that secures the debt
    • Loan interest is not tax deductible
    • Longer financing times on average
    • A longer repayment period can mean higher costs overall

    HELOCs are often best for those who have significant equity in their home and prefer a long repayment term. Before opening a HELOC, shop around for the most competitive interest rate. It is also important to be disciplined about your use of a HELOC and debt repayment.

    View Home Equity Rates

    Leverage the value you have in your home to get the funds you need.

    3. Debt consolidation loan

    A Debt consolidation loan can be a smart way to consolidate your debts if you qualify for a low interest rate, sufficient funds to cover your debts and a comfortable repayment term. These types of loans are unsecured, so your rate and borrowing limit depend on your credit profile.

    Advantages The inconvenients
    • Warranty is not required
    • Funding and approval can be quick from many lenders
    • Loan amounts range from $1,000 to $100,000
    • Lower interest rates than credit cards in many cases
    • Loans may come with origination, late payment and prepayment fees
    • Low rates require great credit
    • Scams are rampant in the debt consolidation loan market

    Debt consolidation loans are generally a good option for those with a credit profile that provides favorable interest rates and a borrowing limit that fits all of your debts. You’ll generally need to have a credit score of at least the mid-600s and have made payments on time for the best rates, although personal loans for bad credit are available.

    Get pre-qualified

    Answer a few questions to see which personal loans you are pre-qualified for. The process is quick and easy, and it won’t affect your credit score.

    4. Peer-to-peer lending

    Peer-to-peer lending platforms match individual borrowers and investors for unsecured loans typically ranging from $25,000 to $50,000. Like personal loans, P2P loans are unsecured, so the borrower’s credit history is the key factor for rates, terms, borrowing limits, and fees. The higher your credit score, the lower the interest rate and the more you can borrow.

    Advantages The inconvenients
    • Application, approval and funding are usually fast
    • The initial application uses a soft credit check
    • Lower credit scores may still qualify
    • Fees may apply
    • High interest rates with bad credit
    • Less time to pay off the loan than with credit cards and home equity loans
    • Potentially higher monthly payments due to shorter repayment terms
    • Rates are generally higher than home equity loans

    Eligibility conditions for loans between individuals are not always as strict as for other types of loans. Some P2P lenders allow applicants to qualify with a lower credit score. Before using this type of loan, compare fees and interest rates with other options.

    5. Debt management plan

    If you want debt consolidation options that don’t require taking out a loan or applying for a balance transfer credit card, a Debt management plan might be right for you, especially as an alternative to bankruptcy.

    With a debt management plan, you work with a nonprofit credit counseling agency or debt relief company to negotiate with creditors and write a repayment plan. You close all credit card accounts and make a monthly payment to the agency, which pays creditors. You still receive all account statements from your creditors, so it’s easy to know how quickly your debt is being paid off.

    Advantages The inconvenients
    • Credit score can improve over time
    • Free options from some organizations if you really need them
    • Some of the best loan rates
    • Credit score will usually go down for a while
    • Many nonprofits have strict requirements on how you use the money while on the plan.

    Debt management plans are generally a good choice for those who are heavily in debt and need help structuring repayment. But you will need to find out if your debt qualifies for this type of plan.

    How to avoid getting into debt

    Consumers who have borrowed and spent so much that they need to borrow more to consolidate their debt need to carefully review their spending habits. “You need to identify where the debt is coming from,” says Celeste Collins, executive director of O​nTrack WNC Financial Education & Counseling​ in North Carolina. “How did this balance come to this? You need a comprehensive cash flow plan and take repayment seriously.

    Once you are out of the debt hole, you can avoid this predicament again. Here are some rules to follow:

    • Set a budget and stick to it. Live within your means.
    • Avoid impulse purchases.
    • Look for the lowest price before making a big purchase.
    • If you use a credit card, pay the balance monthly to avoid interest charges.
    • Keep your finances organized and monitor your bank balances closely.
    • Stay away from “buy now, pay later” and “interest-free financing” offers, which only defer your debt.
    • To save money. Try to set aside a certain percentage of your income to save it.

    Get pre-qualified

    Answer a few questions to see which personal loans you are pre-qualified for. The process is quick and easy, and it won’t affect your credit score.

    The bottom line

    If you need to borrow money to consolidate your debt, avoid subprime lenders who cater to consumers with bad credit – these lenders offer the highest interest rates and ruthless loan terms, and it’s always best to shop with traditional lenders first.

    Also, take every precaution to ensure that your lender is legitimate. Check to see if a lender is registered in the state you live in. Look for this information on the lender’s website or contact your state attorney general’s office for further verification.

    Learn more:

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