“Before you jump into debt consolidation, let me break it down for you. ????

Most of these so-called debt relief companies will tell you to STOP paying your bills so they can “negotiate” on your behalf. Sounds good, right? WRONG. ?

Here’s the truth:
???? You’ll default on your accounts.
???? Your credit score will take a major hit.
?? You could end up worse than where you started.

A smarter approach? ???? Get a personal installment loan from lenders like SoFi, Lending Club, or Best Egg. This allows you to:
? Pay off your high-interest credit cards.
? Lower your overall interest rate.
? Reduce your credit utilization (which makes up 30% of your score).
? Keep your credit score intact—or even increase it!

Moral of the story? Don’t fall for the “quick fix” traps. Leverage debt the right way and set yourself up for financial freedom.

???? Want more credit and wealth-building strategies? Click the link in my bio and book a free discovery call with one of my wealth advisors today!

#FullTimeCEO #SmartMoneyMoves #DebtFreeJourney #WealthBuilding #CreditScoreTips #FinancialFreedom #EntrepreneurMindset #MoneyMatters #CreditEducation #DebtConsolidation”

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When your debts go out of hand, you might find it easier to just take out a loan to settle everything, but is debt consolidation a good idea? Watch this video to learn all about this and whether or not it’s a good option for you!

Watch And Enjoy!
Justin Mirche

Key Moments In This Episode
========================
00:00 Intro & Summary
00:34 What Is Debt Consolidation?
01:58 Different Types Of Debt Consolidation Loans
03:43 Common Trap With Debt Consolidation Loans
04:45 Pros Of Debt Consolidation Loans
06:51 Cons Of Debt Consolidation Loans

What To Watch Next
========================
How Long Does It Take To Repair Credit?
https://youtu.be/gwuAdlPuywg

RESOURCES
========================
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Learn More about Justin Mirche
========================
Justin Mirche is the founder and President of Justin Mirche Consulting. He has a vast background in finance and has been the go-to person for friends, colleagues, and clients for years to assist in solving a wide array of credit and finance challenges. His experience and dedication have transformed lives, families, and businesses. Now, he wants to share his expertise to help a much broader audience. With his YouTube channel, Justin wants to answer questions that affect our everyday lives, erase confusion dispel myths about credit and finance, and provide valuable advice to help you level up and reach your credit and financial goals.

Website: https://justinmirche.com/

========================
Nate Woodbury – YouTube Producer
https://www.youtube.com/NateWoodbury

#Finance
#CreditScore
#PersonalCredit

Feeling overwhelmed from multiple debt accounts? Debt consolidation might be the solution you’ve been looking for. In this video, we’ll break down the pros and cons of debt consolidation, and whether or not it’s the right fit for your financial situation. Read the full article here: https://www.experian.com/blogs/ask-experian/thinking-about-consolidating-debt-good-idea/

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Teresa modified her home mortgage back in 2009 during the financial crisis, and thought she was making payments on her second mortgage every month. She’s discovered she’s overdue on thousands of payments for this “zombie debt,” and fears losing her home.

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Is debt consolidation a good idea? [Reasons to Refinance Part 2]

Firstly, what is debt consolidation?

Debt consolidation is basically the act of combining your current debt obligations (such as credit cards and personal loans) into a single payment, either through one comprehensive debt consolidation loan or an increase in your home mortgage to clear out existing debts.

So, when is debt consolidation a good idea?

Consolidating your debt may be an excellent option to save money and reduce what you owe rapidly, provided that the interest rate on the new loan is lower than those of your existing debts. Yet, it’s essential to make sure that when considering overall fees, charges and interest rates combined together, this solution is more cost-effective than any other options out there.

Watch full video to see what are Good Reasons to Refinance your Home Loan — https://youtu.be/3lBxSSE2naE

Visit our YT channel for more videos on economy, personal finance and home loans! – https://www.youtube.com/@willbellmortgagebroker

WILL BELL MORTGAGE BROKER
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0448 111 046
wbell@belllendingservices.com.au

?Is it ever a good idea to refinance?
?What are the benefits and risks of refinancing?
?What are the risks of refinancing?
?What will happen if I refinance my house?
?What are the reasons not to refinance your home?
?Is debt consolidation a good idea?
?What are the pros and cons of debt consolidation?

#refinancing #refinance #homeloans #debtconsolidation #consolidatingdebt #mortgagebroker #mortgageprofessional #MortgageBrokerFrankston #MortgageBrokerMelbourne

Debt consolidation can be a good way to reduce the span of your debt and possibly bring down monthly payments, but is it always a good choice? Watch full video @justinmirche

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Is debt consolidation a good idea? That can depend a lot on your individual situation, of course. As a general rule, debt consolidation can be a very wise financial move. But please don’t confuse debt consolidation with debt settlement or debt relief. It is a completely different animal

A war of words has been started between two largest economies of the world – US and China. They are engaged in a tussle over debt issue, it started after US Treasury Secretary Janet Yellen called China a ‘barrier’ to debt reforms in Africa.

#china #us #janetyellen

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Debt consolidation can be a good way to reduce the span of your debt and possibly bring down monthly payments, but is it always a good choice? Watch full video @Justin Mirche

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Student debt relief recipients are “hardworking, middle class, working class folks,” Sen. Elizabeth Warren says. In response to comments deriding President Biden’s student loan forgiveness plan made by some Republicans, Warren tells Joy Reid, “I’ve just had it with this idea that these are somehow the slackers in America.”
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