Should You Transfer Your Debt Or Just Centralise It?

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Life isn’t easy at the best of times, and for some people, they simply can’t see the light of a good day from underneath the pile of debt they’re under. Living with debt is no way to live. No matter what you do in your life, it’s always a ghoulish monster following you around. If you got to the park with your children hoping to forget about your worries and just have some fun, the spell of forgetfulness can be broken by a debt reminder text message to your phone. Well, of course, that would happen as companies you owe money to, don’t want you ever to forget that for the time being, you belong to them. It’s important to realise that they’re not monsters themselves, they just want their money back along with the interest rate. Surely if you were in their position and you run such a business of lending people money, you would want them to keep you in their thoughts for as long as the debt was outstanding. Rather than worry about the debt itself, you should worry about which tactic is best to repay in the quickest amount of time.



One card to rule them all


The most common form of debt is credit card debt. Taking out multiple credit cards to pay for your lifestyle will soon catch up with you. Credit cards have some of the highest interest rates of any financial instrument, but they’re quick and easy to get approved for and easy to use. So people who irresponsibly take out multiple cards at once, don’t realise the slow avalanche that suddenly speeds up toward them. You could perform a balance transfer and centralise all your credit cards into one card itself. This new card will pay for all the debt of the other credit cards. It’s kind of like the master card; it holds more power than the other smaller cards with the debt. The interest rate and payment schedule must be worked out with the bank, however, but only after they make sure you pass their credit score check. Usually, the interest rate is lower than the amalgamation of all the other debts, so you inherently have more time on your side.



Combine and time


Those who have had debt run their life for them will tell you the feeling they had of completely losing control of their life. From the waking hours of the morning right until the end of the night, they felt like their sole purpose in life was to pay somebody else their hard earned money. Having multiple debts at once means you spin around trying to please everybody that demands payment. But what if you could combine all your debts, every single one, and then make lower payments and be given much more time to clear all outstanding payments? That’s exactly what a debt consolidation loan from does You could receive the money you need within days after you’ve set up a plan you’re comfortable with.


Consolidation loans are perhaps the best tool anyone with multiple debts has at their side. Because the debts are all pooled into one, it makes life easier, and you only need to worry about making one payment.


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