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Alternatives To Consolidate Different Debts Into One Loan

Debt Consolidation Loan Using A Loan From Family And Friends

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It is not a good idea to use your goodwill with family and friends for a debt consolidation loan. It is preferable to save friends and family for an emergency reserve in case you become stuck without other options.

The underlying premise behind a debt consolidation loan is that you can afford to pay the debt. That you are merely trying to reduce the interest and the number of checks you have to write each month. The word "merely" is used only in relation to the purpose for making this transaction compared to asking family and friends to help.

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