Pros and cons of debt

Suppose you have badly need money because you are deep in debt and large part of your income eat up by the debt company as installment amount or as interest t in this condition only debt consolidation is the best option.

Unpaid debt amount will badly affect on the credit score and you can loss your property and it leads condition for bankruptcy.

Debt consolidation can help you to save your credit rating in the market also help you to become bankrupt.

Debt consolidation loan has two main type .First secured loan and second unsecured In secured loan your valuable property mortgage by the loan issuing bank and in unsecured loan there is no need of security but here the strict rules and charges are also high.

Debt consolidation helps you to save the credit score in the market. It reduces your total payment in a month. You need to pay low interest rate and you can pay only one installment to a single creditor.

These will help you to become bankrupt.

Debt consolidation reduces your monthly payment but it increases your total payment, because consolidating company charge there fees on the payment amount.

Interest rate reduces but as maturity period increase you need to pay higher total interest than before.

If anyone unable to pay installment of the consolidating company he can lost his property.