http://www.debtconsolidationstand.com/debt-consolidation/cheap-debt-consolidation-loans.html Cheap debt consolidation loans re an excellent way to get out of debt. en-us Sat, 26 Jul 2008 15:00:00 EDT Sat, 26 Jul 2008 15:00:00 EDT Weblog Editor 2.0 When it comes to debt consolidation loans, a lot of people think that it's just a program where you trade one set of debts for another. That's true, but what's also true is that it is a lot cheaper than staying in debt for as long as it will take you if you just continue to pay the required monthly minimum. Check it out.... Debt Scenarios The Joneses (who everyone tries to keep us with) owe $10,000 in credit card debt at 18.5% interest. If they continue to just pay the required monthly minimum, it will take them 32 years to pay it off, and they will have paid $24,500 in total. But if they would have got a debt consolidation, it would have lowered their interest rate dramatically, allowing more money to go towards the principle. This is the power of cheap debt consolidation loans. In another example, a college student named Sandy owes $2,800 in credit card debt (not including her student loans). If she pays $50 a month and the interest rate is 18%, it will take her more than ten years to pay it and he or she will have paid $6,154. Again, if she had checked into cheap debt consolidation loans, she could have saved herself a lot of time and money. To get a debt consolidation loan, you have to have collateral. If you don't, it's okay--there are other forms of debt help. You could look into a basic debt consolidation plan, student loan debt consolidation (something else for Sandy to consider) a debt consolidation mortgage (for homeowners) or debt settlement. All of these debt relief options will save you a lot of money, and most will get you out of debt much, much sooner than you ever thought was possible. To find a cheap debt consolidation loan, check out one of the companies on our Related Resources page. Sat, 26 Jul 2008 15:00:00 EDT