A Secret and Real Easy Way to Get a Debt Consolidation Loan
Tags: debt consolidation loan, debt consolidation loans, debts, easy money, getting a loan, interest rates, main street bank, mistake, people who lend money, person money, personal lending, silly thing, squirrel, stupid things, zopa
As your favorite get out of debt squirrel I’m torn sometimes between helping people to find good sources of cash for debt consolidation loans and just giving sensible advice. I’m always concerned that people will do incredibly stupid things, like get a debt consolidation loan and then jump right back in to building up debt again since with the debt consolidation loan they will have lowered their monthly payments and reduced the stress they are feeling now.
The advice I’m giving you here makes it easy to get a loan to consolidate your debt, and that’s smart for the borrower, but a stupid thing for people to let you borrow their money for. Here’s why.
Zopa is this personal lending site. They help individuals that want to lend money to get paired up with other people that want to borrow money. The fees and interest rates charged are about 50% less than a Main Street bank would charge you, so that’s cool.
But what bothers me is that people who lend money through Zopa don’t realize what they are getting themselves in for by lending easy money to people who want to consolidate debt into one cheaper loan with a lower monthly payment.
So my recommendation is, that is you need a debt consolidation loan, apply now before Zopa figures out this mistake. And if you are someone that would consider lending another person money to consolidate their debts, don’t.
