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    3: $1,500 at 13%, 2% minimum payment each month

    Your total debt is $5,000, so you decide to consolidate it into your mortgage. After all, your mortgage is at a much lower APR, onl

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    Debt consolidation is often marketed as the easy way out of debt. I’m sure we’ve all seen television advertising consisting of interviews with relieved looking couples who have consolidated their debt into “one easy monthly payment”, Sometimes they even have enough left over to take that trip of a lifetime, or treat themselves to something special.

    The truth is, that debt consolidation can often be dangerous, and far from being the way out of debt, it’s often one of the first steps to getting deeper and deeper into debt.

    As an example, let's say you owe the following on credit cards:

  • Credit card 1: $1,000 at 15%, 2% minimum payment each month
  • Credit card 2: $2,500 at 12%, 2.5% minimum payment each month
  • Credit card 3: $1,500 at 13%, 2% minimum payment each month
  • Your total debt is $5,000, so you decide to consolidate it into your mortgage. After all, your mortgage is at a much lower APR, onl

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    heir debt into “one easy monthly payment”, Sometimes they even have enough left over to take that trip of a lifetime, or treat themselves to something special.

    The truth is, that debt consolidation can often be dangerous, and far from being the way out of debt, it’s often one of the first steps to getting deeper and deeper into debt.

    As an example, let's say you owe the following on credit cards:

  • Credit card 1: $1,000 at 15%, 2% minimum payment each month
  • Credit card 2: $2,500 at 12%, 2.5% minimum payment each month
  • Credit card 3: $1,500 at 13%, 2% minimum payment each month
  • Your total debt is $5,000, so you decide to consolidate it into your mortgage. After all, your mortgage is at a much lower APR, onl

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    onsolidation can often be dangerous, and far from being the way out of debt, it’s often one of the first steps to getting deeper and deeper into debt.

    As an example, let's say you owe the following on credit cards:

  • Credit card 1: $1,000 at 15%, 2% minimum payment each month
  • Credit card 2: $2,500 at 12%, 2.5% minimum payment each month
  • Credit card 3: $1,500 at 13%, 2% minimum payment each month
  • Your total debt is $5,000, so you decide to consolidate it into your mortgage. After all, your mortgage is at a much lower APR, onl

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    e following on credit cards:

  • Credit card 1: $1,000 at 15%, 2% minimum payment each month
  • Credit card 2: $2,500 at 12%, 2.5% minimum payment each month
  • Credit card 3: $1,500 at 13%, 2% minimum payment each month
  • Your total debt is $5,000, so you decide to consolidate it into your mortgage. After all, your mortgage is at a much lower APR, onl

    Write a Cover Letter That Makes the Difference
    The Art of the Cover Letter Hiring managers often receive hundreds, or even thousands, of applications for a given job. To avoid having your resume sink in a sea of paper or electronic files, it’s essential to write a cover letter that stands out and makes a great first impression.Here’s how:Rule #1: Keep Up Appearances Your resume and cover letter must be a
    3: $1,500 at 13%, 2% minimum payment each month

    Your total debt is $5,000, so you decide to consolidate it into your mortgage. After all, your mortgage is at a much lower APR, only 5.5%, and although you've got 25 years remaining on it, your mortgage company has told you it'll only cost an additional $30 a month, where as previously you were paying over $110 a month just meeting the monthly minimum payments.

    But it's not as simple as it seams. Although your mortgage is on a much lower interest rate, it's also over a much longer period of time. In fact, over the 25 years of your mortgage, you'll actually pay over $4,000 in interest on the extra $5,000. That nearly doubles the cost of your original credit card debt.

    Snowballing may be the answer.

    By snowballing your debt, you pay off your debts in order of interest rate, from highest to lowest. You pay as much as you can afford on the debt with the highest

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