Why Debt Consolidation Doesn’t Change ANYTHING!
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My loans are consolidated.
The other problem with things like Uber is that If you driven enough to make significant money you've driven significant miles on your car and tanked its value.
Let's say you had just driven to a place where you work 5 min away for 2-3 years, It could be the difference between having a car with say 100,000 mi in one with 50 at the end of that period of time.
Which changes the retail value significantly meaning you get a lot more money when you go to sell it.
But for some reason nobody has this talk when it comes to Uber. Some of what you earn is offset by the car value loss.
Debt consolidation only lengthens your debt?? That’s very informational !!! So consolidating date kind of stupid?????
Idk I got a much lower interest rate from a bank to consolidate my debt and it saved me a lot of money. I was able to pay it off aggressively. The key is to not just pay the minimum payments. Go at it aggressively
Never and never consolidate your debt with an agency. They all are crook.
Yeah it does change something. You owe a lender instead of a family member. Family member is paid right away.
Otherwise that's it
Debt consolidation is mostly about not having to keep track of multiple payments and potentially missing one. Not about kicking the can if continue to pay it off or saving on interest.
Stinkin babysitter
His language is just disgusting
It does change. It changes interest rates and your budget
Yikes, Daves' tone was off on this one.
The family members might need the money back sooner, that they've been dropping hints, without coming out & saying so.
Wife is stay at home mum, maybe she should do part time job and he can look after the kids doing that time?
Don't consolidate but I'd take out a personal loan for the value of the family loan, pay family off immediately and then wail on the debt
Run numbers in a spreadsheet to find the most effective payment strategy, it's generally bringing down your largest debt, especially anything over 30k.
I doordash part time and AFTER expenses make about 18$ an hour.
There is a lot of joy in paying off each bill. Putting them together is like trying to climb Mt Everest and takes forever for one success
A debt consolidation loan is a great thing.
Oof, 12% on a car loan…
It saves you money and easy to keep up with