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What are the disadvantages of consolidating my loans and Credit Cards?
I will not be able to open more lines of credit? it really cost more money? How does the company make money if I can pay less? how fast I can pay a debt of $ 45,000?
If the debt consolidation will make it is not only one payment per month. The disadvantages of it is that if a student can not be deferred again, if loans for students, secondly, how to make money with it is to do the same to say, car credit. if your minimum payment is $ 100 then there is probly $ 65 charges funding so it takes some time to pay. 45,000 of the debt can be repaid in 5 years depends on the amount you want your monthly payments to be. As far as more open line of credit, depending on your score and your income if you'll be able to make more loans. Definitely a good idea to consolidate because not only will save you money be sure to pay more than the minimum each month, as dramaticly reduced interest and takes no more than 10 years to repay. 10 years is the norm.
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