Debt consolidation can include mortgages and car loans, but the primary focus for most people is consumer debt. Consumer debt is somewhat malleable. Unlike a mortgage that can be rather structured, a credit card loan can go away with some logical debt management. It can also be at the ebb and flow of annual fees, rate adjustments, and new offers.
The Trick of Debt Limits
Credit debt is also abused for many of these reasons. It is easy to call and get a limit upgrade. The credit card company will actively promote it- and for a fee. Borrowers can have the great feature of being able to borrow more, if they pay for it as well as pay for the extra associated fees for the extended limit.
It can all get way out of hand way too easily. How can a borrower get a handle on the potential spiraling train … Read the rest