Remortgages And Secured Loans Make Excellent Consolidation Loans.
When money worries bite, the happiness in life evaporates.
This is not an uncommon situation nor is it a surprising one, as it takes such a lot of money to pay for the basic cost of living these days.
Electricity for lighting and heating are essential aspects of life.The basics in life are costly and absolutely necessary for living.
Food is expensive, and often people get quite a surprise in the supermarket when they go to pay for the groceries in their weekly shop, when they discover the total of the food bill for the week
Another essential item is of course clothing, and added to the cost of the other essentials of life, the majority of ordinary human beings wait anxiously for pay day every month and by that time their wallets are thin, if not empty.
Other aspects that afford us human beings the quality of life that we should all expect and deserve, is at least one holiday every year whether this is in our own country or abroad.
We are social creatures who thrive in the company of others, and as such, every one has a right to either go out with friends for a drink or a meal, or to sometimes, every so often, entertain friends at home.
Even this mixing with others can strain the purse strings with the cost of even a decent bottle of wine being high these days
A car is also a fairly basic necessity of life that allows us to travel around gettng more experiences out of life, as well as expanding our knowledge.
After paying for all the basic essentials of life, many people have to use credit cards to pay for entertainment, a holiday, etc.
The majority have a loan or hire purchase to buy the car.
It comes as no surprise, that most people long to receive their salary, while at the same time being unsure if it is sufficient to pay all their debts.
For those finding themselves in this position, the day of reckoning has arrived, and it is time to take stock of finances and obtain a remedy for the financial blues.
This can be achieved by consolidation loans which perform the task of debt consolidation which clears off all credit card debts, etc. and leaves a single lower repayment in the place of the many troublesome high interest debts.
Homeowners can best go about this by arranging either a remortgage or a secured loan which have very low rates of interest compared to the high rates for credit cards, etc.
To give an example of how much can be saved, if we take a person with credit card balances of 30,000 which will cost a minimum of 900 each month, and when this minimum repayment is made it will take about twenty six years to clear.
By paying off all these cards with a secured loan at about 9% APR, the payment every month would be in the region of less than 400,over a ten year period.
You would pay less than half each month, and after ten years would also be debt free.
With the credit cards, there will still be sixteen years to run.
As such it is not only more than a fifty percent saving, but an absolute fortune that can be saved by consolidation loans via secured loans.
With remortgages from less than 2%, even greater savings can be made.
It is certainly a win win situation with debt consolidation loans.
by: Liz Moir
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Remortgages And Secured Loans Make Excellent Consolidation Loans.