Phil Tirone, on his “The Bankruptcy Facts” blog http://thebankruptcyfacts.com/blog/debt-consolidation-companies/, gives some good insight into debt consolidation loans: 1. Some loans require collateral. Others charge sky-high fees but do not disclose these terms explicitly. Read everything—including the fine print—before signing a contract. 2. Some companies may call themselves nonprofits, but do not expect that a nonprofit [...]
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