Avoid the Trap When You Consolidate Debt, part iii by Ian McAllister

Back

Avoid the Trap When You Consolidate Debt, part iii
by Ian McAllister

Avoid the Trap When You Consolidate Debt

===================

To consolidate debt is a great idea with a trap built into it. The technique described here helps everyone in debt, but if you have an ongoing credit card debt you desperately need this article.

-------------------

* Part I Don't get into debt. Ways to avoid it.

* Part II The big advantages of student loan consolidation

* Part III This article

--------

The Trap

--------

When you consolidate your debt, will you celebrate your freedom from credit card debt by going out and buying more on your credit card? Do you really want to live your life in debt, or would you prefer to take charge of your finances?

It's too easy to consolidate debt. If it hurts to get rid of your credit card debt you'll find it easier to resist getting into debt again.

Are you getting married? If your partner likes to live in debt, and you want to become a millionaire, who is going to give way? Most divorces are caused by money arguments. Discuss it before you marry.

You should consolidate debt if you have no ongoing credit card debt. The trouble when you consolidate debt is that the whole thing loses immediacy when you have thirty years to repay.

--------

List your debts

--------

Make a table showing all your debts, the amount still owing and how much you pay per month. Call the last column

Author's Biography:

Posted on: October 25,2005

Email: essays@myarticleannouncer.com
Website: http://myarticleannouncer.com/go/va.php?article_id=233