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As new federal statistics point to a continued rise in U.S consumer debt, finance website QuickLoansBadCredit.org publishes a guide on debt consolidation, examining the pros and cons of this approach to managing debt
ATLANTA, March 20, 2013 /PRNewswire/ --
The U.S Federal Reserve calculates United States' consumer debt at almost $3 trillion as of December 2012. In real terms, this equates to nearly $9,000 in debt for every man, woman and child in America. In light of these statistics, QuickLoansBadCredit.org has taken the move to discuss the topic of debt consolidation from an impartial and objective standpoint.
The consumer finance site features a library of informational articles and helpful tactics to assist individuals with poor credit and checkered financial health. The debt consolidation guide is the latest in a catalogue of educational materials aimed at improving consumer understanding of the options available to them when struggling with debt. The article is free to access via the website.
QuickLoansBadCredit.org announced the article's availability in the following statement that was released to the press.
"At QuickLoansBadCredit.org, we like to get to the heart of the matter with consumers and we decided to compile a candid FAQ-cum-educational article on the subject of debt consolidation. The bottom line for many is that they are unable to manage current levels of debt and need to make major changes in order to beat the vicious circle of borrowing and drowning in repayments. Consolidating debt can be an effective way to simultaneously reduce monthly payments and reduce repayment time when used smartly in conjunction with a "spending controlled financial diet." We invite consumers to read the article and help make their decision based on fact and practical considerations."
The article is clear to remind consumers that debt consolidation is not a magic pill; the often misguided spending habits or over-estimated income projections of millions of consumers lead them to repeated cycles of debt. It advises that consumers deciding on debt consolidation undertake it with a view to becoming debt free, rather than considering it as a means of freeing up credit cards for more over-spending.
The statement continued, "For many consumers, debt consolidation is the end of the line. It's like rehab for the wallet - once debts are consolidated, they have reached their fiscal 'rock bottom' and must vow to never allow new debt to creep in again."
Read the article for free at: http://www.quickloansbadcredit.org/debt-consolidation-is-it-the-right-move-for-you/
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