Category Archives: Finance

Debt consolidation is the right choice?

In our present society, it is very common to find people very indebted. These debts are added by different motives, mortgages, student loans, credit cards, among others. It doesn’t matter where you come from; the reality is that they are and that they are undesirable. One of the ways to get rid of debts is through consolidation.

Benefits of debt consolidation

To really appreciate the concept behind debt consolidation, you must first understand the many benefits that you can get from this option. One of the biggest benefits is the convenience of having to make a single monthly payment. Let’s assume freedom debt relief client services have nine creditors who send you monthly their ballots, obviously have to review those papers and write a check to each of them every month. This Administration takes you time and energy. Selecting a program more practical, you can simplify your accounts, since now you will have to make a single payment to a single lender.

The second big benefit of debt consolidation is the possibility of choosing a plan monthly payments more reduced. If you want to get rid of your debts, you should opt for monthly payments that you can afford. With a new loan, you will have the option of choosing a payment plan to more long term. One of the drawbacks of this option is that youll end up paying more than the original amount. So you should weigh your options and decide if a period of repayment longer it is preferable compared to monthly payments more abundant to be able to cancel the debt more quickly. Whatever option you choose, if you want to get rid of the debts always must point to the interests more lowly.

Disadvantages of debt consolidation

You must pay attention to the following, if you fail in your consolidation properly handle, you can find yourself in a worse situation than the first and never can return to make use of the program, once you decide to consolidate all your debts, must assume strict discipline and make all your payments promptly. To make the program work effectively and for your benefit.

Protect Your Family From Home Loans Burden

Earlier I have written about the home loans insurance. But, this article dont have any other specific details on the home loans and looks very basic material. So, I have planned to come up with some more details on the home loans insurance. In this article I will explain about the best way to get the insurance cover for your home loans and what are the rules involved in that. If you have any doubts please post it in the comments section.

There are two types of home loans insurance.

In the first type (Insurance for total home loans amount):

kaikista edullisin vippi if Mr. taken the home loans for Rs.1500000. Then he can take the term insurance for Rs.1500000. The cost for yearly premium for this amount would be Rs. 3790 and Rs.42870 for the single premium payment. HDFC offers this kind of insurance in the name of Term Assurance.

In the second type (Insurance for outstanding home loans amount):

Only single premium type is available. In the above example, Mr. X has to pay Rs. 27110 and there is big difference with the first type. In this type you cannot pay the premium every year.

Which one to Choose?

In the above two types, which one would be good. It is always better take the insurance cover for the entire home loans amount. Because, in the second case family will get only the remaining amount, but in the first case if the policy holder dies at any time the family gets the entire Ra.15 lakhs.

First 45 days of taking the policy is very important. If the policy holder dies in normal way with in the first 45 days after taking the policy, his family will not get any amount from the insurance company. They will get money only if he dies in accident.

Summary

I hope this article will be useful for the readers. If you have any thoughts to say, please post it in the comments section. I would be happy to answer your queries.