http://www.debt-free-info.com/debt/n178.html When you consolidate debts, you're basically signaling your intention to become debt free. Get things lined up and ready to go - consolidate debts and start those savings. en-us Sat, 26 Jul 2008 15:00:00 EDT Sat, 26 Jul 2008 15:00:00 EDT Weblog Editor 2.0 There is a single tactic people take when they're ready to get serious about debt reduction. Its not a total cessation of spending - this tactic often drags people into worse financial situations than if they'd just stayed on the same path they were on. NO, people who are ready will analyze their debts, see which need to go first, then consolidate debts into a single manageable sum. And they do it for a single good reason - because it works. The healthy choice is to consolidate debts When you consolidate debt, all you're doing is translating your existing obligations into another form - and what a difference that transformation can mean for your and your personal finances: Instead of a hundred obligations, when you consolidate debts you'll only have one to worry about. You can stay focused, you can budget your income, you can actually see where your payments are going and when they're going to stop. All your creditors are taken care of, and in most cases taken care of immediately. You're still obliged to the loan you used to consolidate debts, but thats better than a faceless credit card company who will never listen to a single problem you may pose. You'll have a longer term to repay your debts, and will probably be charged a much lower interest rate than if you would have hung onto your debts. Are there any drawbacks? Sure! Nothing this good can survive without its share of sacrifice. But when you consolidate debts you'll know from the beginning and throughout the repayment term exactly what the score is, exactly what you own, and exactly what you need to do to end the cycle and begin your debt-freee existence. You're here to gain some understanding, some Debt Free Info to make your life that much better. And our advice is simple - consolidate debts, stay focused, concentrate, and soon enough you'll achieve that long elusive debt freedom. Sat, 26 Jul 2008 15:00:00 EDT