Tuesday, December 7, 2021

Debt Consolidation and How it Works.

Who among you here have not incurred any debt? If that is the case, then you are lucky. But for most of us, debt is synonymous to salary, as it resonates to "being able to have money", although salary and debt are way too different. PLEASE! DON'T GET ME WRONG. 

When there is no other means, debt is incurred to pay for something important, whether it is a need or a want. Irregardless, it provides a monetary function that enables the person to be able to have the power to purchase or acquire whatever is desired. As with salary, when used to make a purchase, especially when ut is in line with one's budget, is okay. But when one takes a loan to make a purchase, it's already burdensome as it entails too many paperwork, plus it will cost more due to interests and fees. Debt makes one lose more purchasing power eventually. But hey, if you really don't have a choice but to sign up for a loan, then you just have to learn to manage so you will be able to pay within your income, and not have trouble finding a way to make ends meet while on a loan. 

Here is where the problem happens. When one takes on more than one loan from different sources and couldn't catch up with the payment schedule, then hell will break and trouble will come knocking. There is actually a way to solve this.

Have you heard of Debt Consolidation?

Debt Consolidation is actually a good thing for those who are already in trouble meeting with payment schedules. The word Consolidation means to make two or more become one, hence your debt from different sources can be clumped together in one. This way, you will keep in mind only one schedule, one fee and go to only one place to make a payment. It'll be hassle-free then.

How does it work?

The first thing you need to do is inquire where you can have all your loans consolidated, and how much you will end up paying on a monthly, semi-annual, or annually. The more inquiries you make, the better your options. Once settled, you start with paperwork and make sure all your required documents are ready. When everything's set, then you start making one payment instead of your usual trips to different places on different dates and time. 

Now, if you think you are not ready for such legwork, there are actually sites online that can help with the same, www.debtconsolidation.com for example. 

Saturday, December 4, 2021

Hello There...

A lot has changed since I last posted. Like the place I am in now. It's so cold here. But I am happy. Happy enough to be able to live through the burdens of being a repatriated OFW. 
But then again, being alive is still worth it. Every day we are given a chance or an opportunity to be better than yesterday... 
So I still rejoice. Life isn't really that bad. We just have to learn to swim through the tides.