Author Topic: Collateral and Consolidation  (Read 252 times)

Offline CoursingSpinning

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Collateral and Consolidation
« on: November 19, 2013, 08:14:50 PM »
Does giving a collateral really help when it comes to debt consolidation? What are the types of properties that can be considered as collateral?
« Last Edit: November 19, 2013, 08:14:50 PM by Guest »
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Offline ScalpingSpinning

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Re: Collateral and Consolidation
« Reply #1 on: November 19, 2013, 08:17:50 PM »
In some ways, yes. Collaterals serve two purposes – one, it reduces the interest rate of your loan by showing your credit worthiness and secondly as a collateral, debt consolidation collateral gives the loaning body the power to seize the property should the loan go unpaid. It really depends on how you manage the laon and what collateral you have given in order to reduce the loan.
« Last Edit: November 19, 2013, 08:17:50 PM by Guest »
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Offline SpinningOutgoing

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Re: Collateral and Consolidation
« Reply #2 on: November 19, 2013, 08:17:57 PM »
Collaterals are the best debt consolidation variables that are being used in order to reduce the amount of debt that you have incurred. You can reduce the interest rate of your debt by just showing the collateral that you have on hand and not pay more than what you already owe.
« Last Edit: November 19, 2013, 08:17:57 PM by Guest »
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Offline GentlingSpinning

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Re: Collateral and Consolidation
« Reply #3 on: November 19, 2013, 08:19:48 PM »
It depends on the loan or the debt that you have going. If it is a student loan, debt consolidation information on collateral is not worth it at all. Student loans are given off to people who cannot afford to pay off their college tuition in cash or in credit, and student loans are paid off once they have already entered the workforce. If in case the money that they earn is not enough, the loan is then reduced and the balance will be partially subsidized by the government.
« Last Edit: November 19, 2013, 08:19:48 PM by Guest »
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