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Sunday, 28 December 2008

BEST DEBT CONSOLIDATION CONSOLIDATION LOAN & CREDIT CARDS

Posted by yan manik

Have you considered debt leads as a way to build your mortgage business? Many people are considering debt consolidation as a way out from under large credit card bills. People are looking for ways to reduce their monthly payments, and if one is a loan originator or mortgage broker, then you have loan products that can help them meet their financial goals in this regard.

Meeting these interested individuals could not be simpler than getting some debt leads. Quality debt leads can help you close more often, to your economic benefit. For the consumer, there are several advantages to debt consolidation. If one is deeply in credit card debt, all of that debt is unsecured. Typically, interest rates are higher for unsecured rather than secured debts, such as a home or car, because there is a greater risk to the lender that one might default. By paying off unsecured debt, one can save a lot of money in interest payments that do not offer the tax deduction that does come with home ownership. Consolidation also makes the physical act of paying bills easier as well.

Instead of writing a dozen checks to creditors, for example, with a consolidation loan one simply has a single payment a month. Another benefit is that one can secure a fixed interest rate when utilizing debt consolidation, which is a big economic advantage over fluctuating high rates, as well as increased minimum monthly payments, on credit cards. Several steps can be taken when one needs to negotiate with creditors for debt consolidation and reduction.

First, get creditors to agree to lower the interest charged on debt, so that one can pay down the principle. Second, if one has poor credit, one needs to try to improve it. There is assistance available to help with this, if one chooses. Another way to improve a credit rating is to pay a little extra each month in order to pay off the smallest debts first. Then take the money used to pay off that debt, and apply it to the principle payment of the next smallest debt.

Doing this on a regular basis will help improve one's credit and reduce overall debt. Of course, one would not want to go back to using the credit cards one is paying off, or the debt-load will increase once again. People are eager to save money, and your debt consolidation leads can put you in contact with them so that there is a win-win situation. Quality debt leads should be screened to verify that the contact information is accurate and that the debt leads have a high amount of unsecured debt. Exclusive leads are the best kind, as are debt leads that have been gathered without the enticement of prizes.


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