Government consolidating credit debt
Challenges with student loan debt can hurt your credit, damage your income through wage garnishment and prevent you from achieving goals, such as starting a family or buying a home.
Thankfully, the federal government provides a range of debt relief solutions that can help you: The information below can help you understand how to consolidate your student loans.
However, such consolidation loans have costs: fees, interest, and "points" where one point equals to one percent of the amount borrowed.
In some countries, these loans may provide certain tax advantages.
This was very misleading, and the Financial Conduct Authority (FCA) took action against some companies to stop this type of advertising.
The FCA who regulate the debt advice sector has continued to bring these types of companies to account.
Contact several financial institutions before you choose a consolidation loan since the interest rates offered by competing financial institutions may vary.Hopefully this means you won’t see any more fee-charging companies advertising debt consolidation in this way.