Most of the renowned financial advisors and counselors have provided their views stating that debt consolidation would work exceptionally well for students who possess multiple student loan debts. This does not mean that other types of borrowers should not use debt consolidation, but it would best suit multiple student loan debtors the most, when compared to other types of loan borrowers. All the factors revolving around consolidating student loan debts are as discussed below.

Student debt consolidation can be performed on both federal direct student loan programs and private alternative student loan programs. More than 90% of the student loan borrowers would not possess enough credit score and they also do not possess the necessary income source in order to meet all their financial needs. Under such circumstances, students who have availed multiple students no credit check loans for pursuing their undergraduate and graduate courses would find even more difficulty in managing all their finances and at the same time repaying all the debts on time.

Overwhelming debt payments would often lead to repayment failure since the borrower might forget to repay few of the debts, since the chances of forgetting is very high. Repayment period of all the student loans would be initiated after six months from the time of graduation and if the student does not possess a proper income source at that point of time, then they would find themselves in a much worse financial situation from where it is difficult to manage all the debt repayments.

Federal student debt consolidation

Debt consolidation can be chosen by all the students who have availed multiple federal student loan programs. The new loan would pay off all the older debts and the borrower would be necessary to repay the new consolidated loan. Federal debt consolidation can be performed only on all the federal direct student loan programs availed by the borrower. An alternative private student loan would not be consolidated with a federal student loan, since the lender would not be ready to perform such a consolidation. Visit website for more information.

Federal direct student loan consolidation would make the multiple monthly debt payments into a single lower monthly payment. This would not only help the person manage his or her debt payment but would also make sure that the borrower improves their personal financial status considerably and thereby improve the credit rating.

Private student loan consolidation

Students who have availed multiple private loans can contact a lender and talk to them about consolidating all the older debts into a single debt. Different lenders would offer different consolidation terms and so it is necessary to compare all the different types of lenders and choose the best option.

Private lenders would be ready to consolidate a federal student loan with an alternative private student loan since it is an advantageous option for the lender. They would charge the borrower with certain consolidation fee and processing fee, which are unlikely in the case of a federal student loan consolidation. These are two different debt consolidation options available for a multiple student loan borrower.

There are a lot of advantages created as a result of debt consolidation which would force borrowers to go for it. But, before blindly opting for debt consolidation just because of other people’s views and opinions, one should personally examine the benefits of debt consolidation so that they do not end up in a lot of problems in the future. In this article, readers would be made aware of all the good things associated with debt consolidation so that they can get a better view of all the factors associated with it. Visit website to know more about bad credit debt consolidation.

Debt consolidation would be the best choice for all the students who have availed multiple education loans right from their under graduation to post graduation courses. Students with multiple debts would find it hard to manage them as soon they graduate and get a job. At the early stages of their employment, one would not earn much in order to pay off all the debts. Thus, for them debt consolidation would be the best choice since they have to start building their career and credit from that point of time.

Single payment

Debt consolidation would help the borrower consolidate all his or her debts and as a result of that, the person would be able to manage it by means of a single payment. Consolidation loan can be taken out in many ways and the best method of all is to take up a new consolidated loan. The loan amount sanctioned under the new loan program can be utilized to repay all the older debts. Now, the borrower should repay the new consolidated loan alone by means of monthly payments.

Smaller payments

Monthly payments on the consolidated loan would be lower than usual since the interest rate charged on the new loan is very less. Thus, the borrowers would be able to manage this single monthly payment quite easily. Single payments would reduce the chances of default since the borrower can keep this single debt payment in their mind. It is also seen that consolidated loans have lower costs associated with it. However, monthly payments on consolidated loans also come with a choice offered by the lender. Borrowers can decide how much they would like to pay as monthly payments.

Lower interest rate charges

Consolidated loan would always be offered at a lower interest rate. As a result of lower interest rate charges, the loan would be spread over a longer term period. Although, term period is longer, a lower interest rate would help the borrower save handful of cash.

Flexible repayment terms

Repayment schedule framed for a debt consolidation loan is completely flexible. Borrowers can discuss with the lender and frame a suitable repayment plan as per their personal financial situation. Repayment period might be extended for a long period of time or can be shortened.  Visit Website of Lenders would be ready to alter the repayment period as per the borrower’s comfort.

Apart from all the above mentioned benefits of debt consolidation, another major benefit of all is that almost all the types of borrowers would be able to obtain consolidation loan easily.

Like with most major purchases, people like to shop when looking for a secured loan provider. Making such an important decision cannot be taken lightly, so it is important to assemble the full picture of information to put together the right loan package to meet their needs. Shopping around and looking into numerous options before committing to any one arrangement is an important part of the process. Comparing APRs – annual percentage rates – is the easiest way to analyse the true cost of taking out a loan from each provider, enabling the customer to see which deals will make the most financial sense. It is not always the case that the existing bank will offer the best deal.

Checking the small print for eligibility is also very important. Some lenders have conditions on their loans which mean they are only available for certain customers. Others have a more far reaching customer base, including the ability to cater to those with county court judgements or a history of poor credit rating and missed payments. Certain loan providers will be able to find you a loan which matches your credit profile, therefore checking your credit rating in advance will also help to know which deals might be suitable. Advertised APR deals must be offered to two thirds of customers in order to use the figure in the advertisements: making sure that the credit rating is a good one and likely to qualify for the advertised deal will help avoid unnecessary applications. Too many applications leave ‘footprint’ trails in the credit history which does not look attractive to future lenders. Again, specialist loan providers can perform soft searches on your behalf, where an initial search is done before the formal process, to make sure no negative track is left on your credit history. By using a soft search you can get quotes before you apply for a deal, and then only proceed if you are certain it is suitable and likely to be approved. In addition, there can also be numerous charges put on customers. As well as the obvious fees for missed payments or defaulting on the loan, there can also be other administrative fees and even early repayment charges. Whilst it might seem alien to consider the end of the loan at the outset, these early termination fees can be substantial and need to be accounted for if there is a possibility that the loan period will end early.

Although payment protection insurance is often in the news as a negative force in the market, for those who might have issues making payments due to illness or unemployment, having a PPI arrangement can protect them from difficulties. Looking for these arrangements separately rather than taking the deal offered by the lender can lead to additional savings.

Finally, consider whether a secured loan could meet your needs. Due to the fact that these use property as a guarantee on the loan, the interest rates are often able to be significantly lower. Of course these carry their own risks, but for many people are a better solution than unsecured borrowing or a credit card.

If you need some extra cash to cover the costs of your bills or to make a large purchase, you may consider taking out a loan. This can be a great way to get the money you need now and pay it back over a longer period of time. However, not all loans are worth the cost it takes to borrow and it can end up costing you hundreds or thousands of additional dollars. Often time’s people with little or poor credit enters into loans that promise instant cash and no credit check. While these loans can seem great at first, reading the fine print will help you discover why it is best to stay away from these loans.

Here is a look at the top two ways to borrow money that should be avoided at all costs.

Payday Loans

Payday loans are perhaps the worst type of loans available on the market. These loans are offered to practically anyone who receives regular pay from an employer each week. The payday loan company provides the instant cash up front, and then automatically takes their share out of out of your weekly earnings. They always advertise instant cash, a quick application process and no credit check. While this can sound like a perfect solution, especially for those who have been rejected for other types of loans, payday loans can be very costly. In fact, some of these types of loans charge interest rates as high as 1,000% APR.

Reading this in the fine print should be enough to keep some people away, but all too often people are in a hurry for the money and do not read all of the rules and regulations. To make matters worse, payday loans attempt to keep people in a continuous circle of debt, by offering a simple renewal process. This means that they claim to make things easier for you by lowering the amount you owe each week and extending the timeframe to pay it back. Again, this sounds great, but with each payment, you will be accruing more and more interest.

This type of loan is currently under a lot of scrutiny from consumer watch groups, who are pushing the government for stricter regulations. Especially as these lenders target the young, desperate and those on welfare who are unaware of other loan options for people on benefits.

Logbook Loans

Logbook loans are quite similar to the payday loans, accept instead of using your weekly earnings as collateral, they use you vehicle. These companies also offer quick and easy cash, even if you have a bad credit rating. However, just like payday loans, they charge an extremely high interest rate of 500 per cent. You also need to pay additional fees that may goes as high as £100, which they will add to your loan. The biggest problem with this loan is the fact that you are using your car as collateral, meaning that if you cannot repay the original loan plus all the added interest by the due date, the company has the right to come and take your vehicle. In order to obtain this type of loan, you will need to sign a Bill of Sale, which virtually gives ownership of your vehicle to the lender until the loan is repaid. Due to this Bill of Sale being a requirement, you will not be able to seek any legal recourse against the company if they come and take your vehicle. This is a very dangerous type of loan that should never be used.

Both the payday loan and the logbook loans should be avoided, and should not even be considered as a last option. If you are having trouble paying your bills, the first step should be to talk to the companies you owe money to and try to work out a payment plan. Many companies will be willing to work with you as a means to getting their money. If you do opt for a loan, just be sure to read everything and make sure that you can afford to make the necessary payments on time. 

If you have taken on the enormous task of re-doing and redesigning the look of your home, then you would definitely want to take a look at this small guide before making life-changing decisions. Well, they may not be ‘life-changing’ in particular, but nevertheless are of tremendous importance. Ideas on online catalogues, pictures in guidebooks, paint patterns and textures can all be a bit too overwhelming at times and can prove to be disastrous if not done in sync.  Let’s not forget that most of the time we are on tight schedules and tight budgets! For instance, a quick paint job could cost you from £1500 to £3000 per house, which would then consequently disrupt your décor plans on account of limited budgets. If you like to play with colours, we have a décor option for you that will blow your mind away, and help you save on things such as excessive painting.

We propose that you change the look of your house to coordinate with the fashion and style of the 70’s. Here are a few tips that will help you transform your space into a colourful vintage 70s home.

Don’t Be Afraid to Play with Colours

The 70’s were all about bright colours and freedom of choice. Following that same pattern, you can change the way your home looks by investing pounds from your limited budget into buying colourfully patterned accessories. You need not throw your old furniture to the garbage can; you just have to find a new place for it. If your patio looks dry, there’s your ideal spot for vintage furniture: the garden. And if the pool chairs are old and beaten, replace them with your kitchen chairs or grandma’s sofa chairs.

Word of Advice…

Okay, so might wander what to do with the empty spaces in your house. Well, buy some new furniture that still gives off that vintage taste for the old days. The reason we advise people to do this and not keep the old furniture in the house is related to health and security reasons. Furniture deserves special attention to maintain its classy look, but once the signs of time get to it, there’s no turning back. The actual maintenance of vintage furniture is really pricey in order to keep it “live and running”. If you can’t afford the costs, then just go for substituted. They are safer and better for your health.

Okay, Back to Colours

Use bright coloured wall paper or paint on one side of the wall, and decorate it with selective art to give an artsy look to your living room. We are aware that a paint job would cost you money, so select one wall per room, and involve your whole family for the paint job. It could be a fun paint-Sunday for the whole family, and you would reduce your labour costs by more than 60%. Sounds doable, doesn’t it?

Use Multiple Patterns

Checks, stripes, stars, polka dots – you name it! The 70’s were all about boldness, and using bold patterns can revamp the look of your house. From table cloths to wall paper designs, try to use bold patterns to change the way your home looks. Instead of buying modern-looking furniture, go for vintage looking furniture. It’s okay to be the real deal if it is properly maintained and you can take care of maintenance, too. You can also browse on the web for vintage kitchen designs, vintage bathrooms and even other room designs, to get inspired or to buy them yourself.

A Word on Vintage Kitchens

We all love vintage kitchen designs. Maybe it is because it reminds us of the old days or about grandma’s house or even our childhood. And it’s not only the trends we are talking here; it is also that inner desire to return to the safe place of the past, where we had no worries and no problems. But moving back to the future: of course there are things you need to consider or reconsider before bringing the taste of the past into your house. Ask yourself:

a)      Can I afford the design? Will it blend in nicely with my existing interior design patterns?

b)      Is it safe to bring the real 40+ year old furniture pieces into my home? Will it be safe for my kids and family?

c)       Can I maintain it properly and afford the maintenance costs on a monthly basis?

d)      Do I afford spending money on the real deal or should I just go with a remake version of the vintage kitchen, with new material but same vintage patterns?

Once you got this under control, you can start searching for custom kitchens, for appliances and for dealers such as Wolf, Sub Zero or even Miele. While it’s almost impossible to create vintage appliances for your kitchen, you’ll at least get to choose the safest, high performance and most eco-friendly ones – which are pretty great for your family’s health and safety.

Put your imagination to work, because when it comes to vintage 70s, sky is the limit. Take the bold step, and make your home a bright and fun place to be in!

Author Bio:

Anthony is the owner of TheKitchenWorks Inc. – a company that successfully entered the US market with products such as custom kitchens, bathroom and other rooms design and appliances. Stay in touch on Google+. 

Image source: http://www.designarthouse.com/kitchen/decorating-vintage-kitchen/attachment/red-white-vintage-kitchen/