1985: What is Debt Consolidation AND Should You Seek Help from a Credit Counselor by Connie Schlosberg

Optimal Finance Daily - Financial Independence and Money Advice

Optimal Living Daily LLC

Investing, Business, Education, Self-improvement

4.4 • 1.3K Ratings

🗓️ 6 August 2022

⏱️ 11 minutes

🔗️ Recording | iTunes | RSS

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Summary

Connie Schlosberg of DebtMD shares two short posts covering debt consolidation and whether or not you should consult a credit counselor Episode 1985: What is Debt Consolidation AND Should You Seek Help from a Credit Counselor by Connie Schlosberg With the right information, you can take charge of your finances. DebtMD helps people pay off all types of debt by connecting them with the professional help they need to become debt free. Featured in Forbes, U.S. News & World Report, Yahoo Finance, and Fox Business The original post is located here: https://www.debtmd.com/debt-consolidation & https://www.debtmd.com/blog/credit-counseling-services Visit Me Online at OLDPodcast.com Interested in advertising on the show? https://www.advertisecast.com/OptimalFinanceDaily Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is Optimal Finance Daily, Episode 1985.
0:04.9	What is debt consolidation, and should you seek help from a credit counselor, both by
0:10.5	Connie Schlossberg with debtmd.com and on your host and personal finance enthusiast, Diana
0:17.7	Mariam.
0:18.7	Now, let's get right to it as we optimize your life.
0:27.1	What is debt consolidation by Connie Schlossberg with debtmd.com?
0:34.1	Should I get a debt consolidation loan?
0:37.3	Dealing with multiple payments and different due dates each month can be extremely stressful.
0:42.4	You should consider consolidating your debt if, number one, work, school, and or family
0:48.6	obligations are major distractions in your day-to-day life.
0:53.0	Number two, staying organized is not your strong suit.
0:57.3	Number three, simplifying your finances into one payment would make your life easier.
1:02.9	And number four, enjoying what you have is more valuable than managing your debt.
1:08.6	Tip, if you're curious about how much debt you have, try a debt analyzer tool before you
1:14.5	get started.
1:16.5	Things to consider before consolidating your debt.
1:20.4	Number one.
1:21.6	Many of the low interest rates for debt consolidation loans may be introductory rates that only last
1:27.6	for a few months.
1:29.4	After that, your lender may increase the rate you have to pay, thus increasing your monthly
1:34.0	payment as well as the interest you'll pay over time.
1:38.4	Number two, the loan may additionally have costs and fees that you wouldn't have to pay
	...

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