Many of us have been using our credit cards a lot more or have obtained personal loans to survive as gas and food prices, along with the unemployment rate, have been high.  Many of us are stuggling and although we manage to pay our bills on time (or close to “on time”), we still find ourselves deeper and deeper in debt because we can only afford to make minumum payments.  There is help.

Debt elimination is a system used by debt specialists can reduce the amount you owe on your credit cards and personal loans, can reduce your monthly payments, and can create and “end date” at which time you can be debt free.

This credit card debt relief and debt elimination program is not a consolidation loan, home equity loan, mortgage refinance loan, or a new credit card offer to be used to consolidate debt.  It is not a “rob-Peter-to-pay-Paul” type of situation.  Debt specialists work with your existing credit card issuers and personal loan creditors on your behalf to get them to reduce your interest rate and monthly payment.  They also create a program that will have your debts paid off so you can be debt free in 40 months or less.

Whether your goal is simply credit card debt relief, or total debt elimination, it would be to your advantage to talk to a specialist about what kind of debt elimination program is right for you.  A quick conversation could start the cash flowing back into YOUR pockets.

-Ken S.

But check this out…  When big businesses have bad credit, they get bailed out by big banks, other big businesses, or the federal government.  These businesses get approved for multi-million and billion dollar loans, they get the lowest interest rates possible to keep them from going under.  They may have to pay the ’Fed funds rate’ or the ‘discount rate’.  According to Bankrate.com, as of 10/22/08, the Fed funds rate was 1.5%, and the discount rate was 1.75%.  These low interest rates give them the opportunity to structure affordable repayments, even though they have bad credit.

Now when consumers are offered loans, those with the BEST credit are approved for low interest rates.   As of this post, consumers with excellent credit could qualify for a 15 year fixed rate home loan with the low loan rate of 5.59%.  People with bad credit, however, could pay home loan rates of 9% or more.  

Let’s do the math.  If you have good credit, a 15 year mortgage of $100,000 with a 5.59% interest rate would carry a monthly payment of $821.87.  If you have bad credit, that same $100,000 mortgage with a 9% interest rate would carry a payment of $1014.27.  That’s an extra $192.40 per month you have to pay just because of your bad credit score.  Over the course of the loan, you will have paid an extra $34,632 more than the guy with good credit.

Ok, stick with me now…. Big businesses with bad credit get low interest rate loans.  Consumers with bad credit get high interest rate loans.  What gives?  ‘Big business’ is a reflection of the economy.  Big businesses have bad credit.  Consumers are a reflection of the economy.  Consumers have bad credit.  So if everybody has bad credit, why is it that big businesess get a break with these low loan rates and consumers are left to struggle to pay even more for their loans?  If everyone has bad credit, why don’t banks make it easier for EVERYONE to repay their loans.  Having to pay an extra $200 bucks a month could mean the difference between making your mortgage payment, and not being able to make your mortgage payment. 

Well I tell you one thing, LowRateSearch.com will continue to be diligent in offering consumers lots of help finding low loan rates, whether you have excellent credit, good credit, okay credit or even bad credit.  And if you have bad credit and want some help repairing it so you can qualify for low rates too, we will match you with a legitimate credit repair company and/or a professional debt negotiator to help you get take control and get your credit report back on track.  The higher the credit score, the lower the interest rates you can qualify for.  We are here to help you with your bad credit repair so you too can get the lowest rates.

Ken S.
© 2008

Ken S. is the founder of www.LowRateSearch.com and makes it the company’s mission to help people save money with low loan rates, affordable insurance, and travel deals too.

Exciting news.  LowRateSearch.com has partnered with Bankrate® to help you find low loan rates.  Now you can see the latest loan interest rates for different types of loans including mortgages, refinance, home equity, and auto loans.
 

More info on auto loans:

More info on mortgages:

More info on home equity loans:

For more low loan rates, low interest rates, low credit card rates, low insurance rates, and low travel rates, visit our homepage at www.LowRateSearch.com.  We search for low rates, so you don’t have to. 

Did you know that many medical insurance policies do not follow you if you travel outside of your coverage area?  Imagine being on vacation, seeking medical help, thinking you are covered by your personal insurance, then having your insurance claim denied and being stuck with an outrageous bill. 

Did you know you may be billed twice if you are traveling and a flight is cancelled due to circumstances beyond your control?  Imagine being billed for an extra flight in order to get home, then submitting a repayment claim to the airline that is denied… and you are stuck paying the extra flight fee.

Did you know that airlines may not cover the full cost of the contents of your lost luggage?  What if you arrive at your destination and all you have when you get there are the clothes on your back.  Now imagine having to replace everything that was in your luggage… out of your own pocket. 

All these situations happen every day, and any one of them can happen to you.  The answer? Cheap personal travel insurance.  For just a few dollars, traveler’s insurance plans include 24-hour “911″-type travel emergency services that offer emergency medical assistance, last-minute or emergency travel and flight changes, lost luggage tracking and replacement, pre-trip travel advice and more.  You can choose the amount of coverage that best meets your travel needs. 

Don’t pay hundreds for your trip and lose it all in an instant.  For as little as $30, you can protect your travel investment and avoid potential travel nightmares.  Whether you decide to purchase personal travel insurance or not, at least take a few minutes to check it out and weigh your options.  Peace of mind is priceless.  Make sure your mind is at peace.  Have a great trip!

-Ken S.
Founder, http://LowRateSearch.com

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It has been a little bit since my last post, and boy have I been busy with the website! (http://LowRateSearch.com, of course). It has been added to several directories and is beginning to increase in exposure. It feels good because I work hard to provide consumers with an honest place to locate low loan rates, affordable insurance, and travel deals of all kinds. All this hard work deserves for someone (or lots of someones) to take advantage of. I really do spend several hours every day checking and re-checking to make sure that the companies that are featured on http://LowRateSearch.com actually offer low loan rates, affordable insurance, and travel deals.

In the interest of helping the consumer save money, I have also recently launched three new blogs: http://insidertraveldeals.blogspot.com, http://lowratesearch.blogspot.com, and http://affordable-insurance-rates.blogspot.com. These blogs are dedicated to giving you money-saving information, promo codes, limited-time-only offerings, or anything else that come across my path that you can use that will help you save money. Since these blogs have been created, I have been receiving hundreds of emails with money-saving offers to share with you. I’m going to need some more help keeping up soon… and that’s a GOOD thing.

-Ken S.