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Although the dictionary defines 'debt' as a sum of money owed or the state of owing money, I think defining 'debt' in terms of it's consequences makes more of an impact. This is why, for me 'debt' only means unprecedented harassment, heavy financial burdens and unrestrained stress. For those of you who are still in debt and waiting to get out of it, I'm sure this description of debt strikes harder and will make you want to get rid of it faster. So now you have no excuse ' you've got the reason to get out of debt and a financial solution too, to make things even more convenient. Here's introducing Online Debt Consolidation.

What is Online Debt Consolidation?

Online Debt Consolidation is a process that involves amalgamating all your pending debt like credit card dues, unpaid grocery, store and electricity bills, repayments of various loans, previous holiday expense dues, medical bills, etc. into a single consolidated, outstanding amount. So, after Online Debt Consolidation, you go from having multiple debts to a single one. This entire process is applied for and carried out online.

When do you need Online Debt Consolidation?

When your debt becomes difficult to repay, simply because you've got too much accumulated and all of it to be repaid at the same time, you've got to consider Online Debt Consolidation. Without Online Debt Consolidation, you've got to make monthly repayments of varied amounts to many different lending parties at the same time, at different interest rates, over different time frames. This process is not only very complicated and unmanageable but can extract your entire monthly income. In such circumstances, what money do you have to live on? And how do you manage your other expenses? Your way out ' Online Debt Consolidation.

How does Online Debt Consolidation work?

First your outstanding payments are consolidated into a single unpaid amount. Next a lower interest rate is selected in accordance with your total debt, the average interest rate charged on each of your individual repayments, your current financial standing, and your credit history. Do remember that you now make a single repayment cheque compared to the multiple ones you were making out earlier) to the Debt Consolidation agency and they in turn repay your previous creditors. To create lower and easier repayments, the agency lowers your interest rate, extends your repayment term and even negotiates the owed amount with your prior creditors. So you finally end up signing a single cheque, at a lower rate of interest to the Debt Consolidation agency and can happily forget about your previous creditors.

Why only Online Debt Consolidation?

' Firstly, being online, you are going to save yourself valuable time by researching the best Online Debt Consolidation lenders and agencies in a matter of few minutes. You can also avoid endless paperwork and unending visits. The process is simpler, more convenient and faster.

' Online Debt Consolidation charges you a lower interest rate, which means smaller payments and more spare cash. Note that the interest rate is lower than the average interest being charged on all your previous repayments.

' You no longer have to deal with multiple lenders, their harassing phone calls and collection visits. Your Debt Consolidation lender deals with them henceforth.

' More than often your total debt is negotiated or reduced.

' Online Debt Consolidation can be secured (with collateral and an even lower interest rate) or unsecured (without collateral ' for those who have no assets to pledge). So take your pick!

' You're on your way to a debt-free financial future faster than your imagined!