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작성자 Trudy 작성일23-02-16 06:16 조회17회 댓글0건

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In the Debt Management field, Debt Consolidation vs. Debt Consolidation: What is better?

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Debt Management vs. Consolidation of Debt: Which is better?
Consolidation and debt management are two paths to debt relief. Which option is the best for you depends on your circumstances
by Sean Pyles Senior Writer | Personal financial, financial debt Sean Pyles leads podcasting at NerdWallet as the producer and host of the NerdWallet's "Smart Money" podcast. On "Smart Money," Sean talks with Nerds from NerdWallet's NerdWallet Content team to answer the questions of listeners about their personal finances. With a particular focus on sensible and practical advice on money, Sean provides real-world guidance that will help consumers improve in their finances. Beyond answering listeners' money concerns on "Smart Money" Sean also interviews guests who are not part of NerdWallet and creates special segments that explore subjects such as the racial gap in wealth, how to start investing, and the history of student loans.
Before Sean took over podcasting at NerdWallet He also covered issues concerning consumer debt. His writing has been featured in USA Today, The New York Times and elsewhere. When he's not writing about personal finance, Sean can be found playing in the garden, taking runs , and taking his dog on long walks. He is based within Ocean Shores, Washington.





Aug 5, 2021


Editor: Kathy Hinson Lead Assigning Editor Personal finance, credit scoring, financial management and debt Kathy Hinson leads the core personal finance team at NerdWallet. In the past, she worked for 18 years with The Oregonian in Portland in positions such as copy desk chief and team director of design and editing. Her previous experience includes news and copy editing for various Southern California newspapers, including the Los Angeles Times. She received a bachelor's degree in journalism and mass communications at The University of Iowa.







The majority or all of the products we feature are from our partners, who pay us. This influences which products we review and where and how the product appears on a page. However, this doesn't influence our evaluations. Our opinions are entirely our own. Here is a list of and .



The debt management process and the consolidation can both combine several debts into one, with an interest rate that is lower. This will help you pay off debts more quickly and save you money.
The best approach for you will depend on the amount and type of debt you've got.
It's debt-crushing time
Join the link to sign up and keep track of everything from credit mortgages to cards all from mortgages to credit cards all in one place.






Management of debt
It is a way to combine multiple credit card debts in one with a single monthly payment, which is slashed in interest rates.
The repayment plan typically lasts three to five years, and typically, you aren't able to start new lines of credit or use credit cards during that time. The plans mostly address credit card debt but not student loans medical bills, personal loans.
Why you would decide to go with it:
You have primarily credit card credit card
You have more debt than you can reasonably consolidate
Your credit score doesn't qualify you for the debt consolidation service you're seeking, such as the charge to transfer balances or a
You want the external discipline the plan imposes to keep you from adding more to your balances

Seek out a to begin with a debt management plan. Most agencies offer plans online or by phone.
Consolidation of debt
Combines several debts into one single debt and, in the ideal case, with a lower interest. There are a few options to accomplish this using the personal loan or balance transfer credit card 401(k) loan or home-equity loan.
You'll need excellent or good credit to qualify for the most affordable interest rates on personal loan or balance-transfer credit card.
Why you would choose this option:
You may be eligible for a lower interest rate than you're currently paying, which saves you money and can assist you in eliminating debt more quickly
You'd like to reduce the amount of payments you're making
You are able to continue accessing credit while you work to pay down debt




Author bios: Sean Pyles is the host and executive producer of NerdWallet's Smart Money podcast. His work has appeared on The New York Times, USA Today and elsewhere.







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