Debt consolidation continues to grow in popularity as more and more people realise the savings they can make from doing so. Debt consolidation is a relatively simple concept. You first assess all your existing debts. Most people will have a number of outstanding debts from various sources such as credit cards, store cards, bank overdrafts, car loans and other personal loans. These will all be charged at different interest rates but because of the nature of the debts, the rates charged are generally quite high. For example, typical credit card rights currently run at over twenty per cent and sometimes as high as thirty per cent. (more…)
