Tag Archives: duty
Credit Card Debt Management Consolidations
Credit card debt consolidation can be of two types consolidating all your debts into one debt, or taking a fresh loan to pay off all the existing debts. Technically the latter type is called debt consolidation loan but the term debt consolidation is often used to mean both methods. One should confirm before committing to either alternative and choose whatever method is more suitable to his/her situation.
Mere debt consolidation is not a loan. It is the process wherein you combine all your credit card debts into a single debt with the help of a professional debt management/repayment program of a financial institution. The representative of the program negotiates on your behalf with the credit card companies regarding your outstanding debts. The duty of the representative is to secure a lower rate of interest and reduction in penalties for late payments.
Instead of paying several separate bills every month you make only one consolidated monthly payment of a fixed amount to the debt manager as if there is only one loan. It is his duty to make the payments to the individual creditors and keep your accounts up to date. The programs will require you to stop using your cards till complete repayment of debts. With the systematic guidance of a professional debt management program you can pay off all your debts in a much shorter time than you expect. The service involves fees for securing all these benefits.
The second type of debt consolidation entails taking a fresh loan to pay off the existing loans. It is the oft resorted measure to pay off the credit card debts. A debt consolidation loan facilitates a fixed rate of interest, lower monthly installments and the convenience of servicing a single loan – instead of coordinating between many debts with different rates of interest. Credit card consolidation service providers or help centers extend the necessary assistance to get the loan.
One should be careful before going for a consolidation loan because more often than not they charge a high rate of interest and generally they are secured loans – unlike credit card debts, which are unsecured debts. A default may result in losing the property given as collateral. Choose only a loan with a competitive rate of interest.
Debt consolidation of either type does not revamp your credit rating overnight. But it can help improve your credit history and ensure a debt free future with careful planning. Also, it protects you from harassment of creditors and the humiliation of filing for bankruptcy.
Military Bereavement Loans – In a Time of Need, Help is Available
It’s almost impossible to imagine the devastation a soldier must feel when the loss of a loved one. For many military personnel, they, and even their families, know that in times of deployment to war torn countries, their lives are at risk every single day. To feel that nothing could be more on the edge and then hear that a family member, who was left safe and sound back home, has passed away, can present a wide range of emotional distress to an active duty serviceman or woman. That’s why military bereavement loans can be so important to access in a time of need.
For most military families, especially those of lower ranks, paying for the cost of travel and funeral expenses can quickly become overwhelming and that’s why bereavement loans, in the amounts of $500 to $1,000 can be such a help when needed most. Accessing a loan through a financial lending institution that caters to military service personnel and their families usually involves no more than 24 hours between the processing of the loan and the actual release of funds to the borrower. This quick service allows the soldier and their grieving family members the chance to focus on the things that matter most.
Taking a loan from a lender who specializes in helping service members of all ranks and all branches of the military means the service person is dealing with a company who understands the special needs military families may have. Military bereavement loans are given with a repayment schedule that features a 90 day interest-free period or longer terms with a competitive annual percentage rate, whichever works best for the service person. Army, Navy, Air Force, Marine, and Coast Guard active-duty service personnel are all qualified for this type of loan and may use the loan however they see fit, for travel expenditures to get home or as an added means to cover funeral costs.
There are very people across the entire country of the United States who would ever want to see an active duty military person have to miss the process of saying goodbye to a family member who has passed away. A military bereavement loan is sometimes the only thing that enables the service person to make it back home. If you or someone you are close to is an active duty military person and you need extra money to see you through the burial of a loved one, look for an intuition who puts their focus solely on military families, and get help promptly.