The debate that I was involved in raged on for a period of time, and one of the guys that I consider as the most intelligent in the park gave a lesson that is worth sharing with any financial enthusiast. He said that there is no real debt consolidation loan than your habits. For him, all the fuss about debt consolidation is just an economic system designed to give job to the loan firm owners. He said that the only proper debt consolidation loan he would advice all his friends to get into is a total money makeover.
This will involve changing their habits about income and expenditure. This will involve all who are involved in debts to get extra jobs that will guarantee them more money when this is done. They will then get some sort of written game plan on how they will pay every dime, and this game plan must be followed to the letter before you can boast of having consolidated anything.
The cardinal point of the life you will live after the consolidation is to live on less than what you make or earn. This will guarantee that you always have savings for the rainy day. I concurred with him 100 percent. The truth is that none of these systems helps you for the future. It is about what they gain from you.
The proper debt consolidation loan