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Summary: Debt consolidation is the process of getting a loan to try and get rid of other small loans, such as car loans, student loans or credit card loans. Reduce the cost and interest rate of debt with help from an experienced businessman in this free video on credit card debt.
John Niemira is a professor of business at Stevens-Henager College in Salt Lake City, Utah.read more
"Hi my name is John Niemira. Today I wanted to speak to you about debt consolidation. If you're in the situation where you have a lot of debt, you really might want to think about debt consolidation. Debt consolidation is a process of getting a loan to try and get rid of all those small loans you have whether it's car loans, student loans, credit card loans, whatever it might be. With varying interest rates, a lot of them with very, very high interest rates, a good way to solve that is to get debt consolidation either whether you do it through a home loan or a personal loan or use it through a savings or a 401k that you cash in or something like that with a better interest rate. Consolidating all these small loans not only makes it easier for you in paying bills on a monthly basis but it reduces your credit. The cost, the interest rate, it reduces how much you're putting out each month and all the time and the heartaches it takes whether you're getting calls from creditors or having problem with it. If you need anymore information on this subject or any other subject in the business field, my e-mail address is jniemira@gmail.com."
eHow Article: Debt Consolidation FAQ
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