Chicago, IL (PRWEB) October 12, 2013
In the wake of Trib Live’s October 9th article entitled “Financial Tips for Surviving Spouses”, Money Mermaid revealed tips for debt consolidation, including how to go about beginning the debt consolidation process. Though debt consolidation is frequently misunderstood or not understood at all, debt consolidation may assist individuals and families in streamlining debt payments and preventing the accruing of fees associated with late or forgotten payments, resulting in increased financial stability.
Gary Boatman composed the Trib Live’s article discussing the difficulties recently widowed individuals face, including the tendency of financial advisors to swoop in and begin offering unsolicited advice regarding how best to proceed following the loss of a loved one. Few individuals who have lost their spouse are able to communicate with financial advisors without feeling some amount of vulnerability—a vulnerability that is often taken advantage of. Boatman closed his article with an urging to men and women to plan for the future to avoid pain and confusion regarding finances after a loved one has passed on.
Following the loss of a loved one, and the transition from functioning as a couple in financial decisions to functioning as a solitary figure, many individuals are unsure of how to progress in their financial decisions. One avenue available to these individuals is debt consolidation. Debt consolidation is the process by which all or some of an individual’s debts are combined into a single payment, rather than a series of different payments to different companies. This method of debt repayment may be particularly useful for individuals who have lost a spouse, and are experiencing difficulty managing debt and bill payments. To facilitate an easy debt consolidation agreement, individuals should always shop around for different repayment schedules and interest rates to fit their needs. In addition, individuals should work toward developing positive credit scores to increase chances of achieving lower interest rates. Finally, individuals should consult with a financial advisor to ensure that debt consolidation is the best option for their financial needs.
Trib Total Media is a Pennsylvania news outlet, functioning in much the same way as a traditional newspaper, offering local as well as national news. It also serves as an advertising platform, providing Pennsylvania natives with advertisements and coupons for local companies.
Money Mermaid announced the potential benefits of debt consolidation for individuals who have encountered the loss of an income-generating loved one, and defined the process of consolidating debt. Money Mermaid encouraged readers to shop around for different interest rates and deals with various companies before entering into a consolidation relationship, meet with a financial advisor before proceeding with a debt consolidation plan, and work to improve credit scores. For more detailed information and help with combining or restructuring debts, MoneyMermaid.com recommends the data found on DebtConsolidation.com.
MoneyMermaid.com is an online resource for personal finances, focused specifically on debt consolidation and how it can benefit individuals.