Here are the top things you need to know before you consolidate your debt: But here’s the deal: debt consolidation promises one thing but delivers another.

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Here’s why you should skip debt consolidation and opt instead to follow a plan that helps you actually win with money: The debt consolidation loan interest rate is usually set at the discretion of the lender or creditor and depends on your past payment behavior and credit score.

Even if you qualify for a loan with low interest, there’s no guarantee the rate will stay low.

Once their fee is accounted for, they promise to negotiate with your creditors and settle your debts. Well, the debt settlement companies usually don’t deliver on helping you with your debt after they take your money.

They’ll leave you on the hook for late fees and additional interest payments on debt they promised to help you pay!

An IT systems consolidation becomes imperative for businesses focusing on growth as technology budgets come under increasing scrutiny, and the low-hanging fruits of automation have already been consumed. An AMR Research study conducted in 2010 found costs of about one percent for companies with billion-dollar revenue, where IT savings alone — 25 percent— would not justify system consolidation.

However, IT system consolidations often require reimplementing enterprise resource planning software, resulting in investments from tens of millions up to a billion U. The benefits to other entities in the business must be taken into account to justify expenditures.

Something has to change, and you’re considering debt consolidation because of the allure of one easy payment and the promise of lower interest rates.

The truth is debt consolidation loans and debt settlement companies don’t help you slay mammoth amounts of debt.

But let’s be honest: Your interest rate isn’t the main problem. This specifically applies to consolidating debt through credit card balance transfers.

The enticingly low interest rate is usually an introductory promotion and applies for a certain period of time only. In almost every case, you’ll have lower payments because the term of your loan is prolonged. Your goal should be to get out of debt as fast as you can!

You are only restructuring your debt, not eliminating it.