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Are Debt Consolidation Loans Bad News?

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Suze Orman

Los Angeles, CA

Today. A recent question and answer session with financial guru Suze Orman discusses a wrong way to pay down debt. A family with $26,000 of various debts is searching for a way to pay down their debt.  They are using their salaries to make payments. However, they are considering taking out a personal loan to consolidate their debts into one big debt, and then pay that debt down

http://www.huffingtonpost.com/2014/11/05/paying-off-debt-suze-orman_n_6056688.html

Suze Orman does not believe in debt consolidation personal loans to repay debts. Often these loans are at a high interest rate with strict repayment terms. Debt consolidation programs can also depress your credit score while paying back 100% of your debt plus interest. If you are in significant debt consider debt settlement performed by a qualified law firm. Many people are faced with the burden of high debt and behind in the minimum payments. In this scenario, debt settlement with a qualified debt settlement attorney can be a great solution.

Are Debt Consolidation Loans Bad News? was last modified: November 10th, 2014 by Kevin Fallon McCarthy
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Kevin Fallon McCarthy is the McCarthy Law PLC’s managing attorney and an experienced Phoenix debt attorney. Mr. McCarthy has also worked as general counsel for a large corporation. He has corporate counsel experience in human resource matters, general corporate governance, and union class action litigation.
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