Is Debt Consolidation The Way Out Of Your Debt? (2017 Update)

Debt Consolidation

Debt is no one’s friend, and if you have one, you may be thinking how to get out of it quickly. One of the few options you may be considering now is debt consolidation. Well, this option will work well if you do it the right way.

In many cases, people consolidate their loans by taking out a second mortgage or home equity loan. Debt consolidation has the advantage of combining all your debt payments into one single payment, lowering the interest rates and your monthly payments.

While this option may look more manageable, consider the followings things before you decide to consolidate your loans.

Basics of debt consolidation

You can consolidate your debt using a home equity loan or a second mortgage. You’ll use the new loan to pay off your credit card balances and other loans so you’ll be left with only one payment to make each month. Be extra careful when deciding to choose this course of action because some lenders offer an unsecured debt consolidation loan whose interest rate is very high.

How much will I be saving on interest?

Consolidating your debt extend the duration of your loan and allow you to make lower payments. However, the initial interest rate may seem lower but at the end, you may end up paying more in terms of interest than you would have actually paid if you never consolidated the loan. Be keen on the numbers, find ways to pay off the debt faster.

Avoid changing unsecured debts into secured debts

When you consolidate your debt, the consolidation loan you get will change your unsecured debt to secured debt.  So in the unlikely event where you’re unable to pay your home equity loan, you lose your home.

Similarly, in the unlikely event where you’re unable to pay for your credit cards only, your credit score drops, but you still retain ownership of your home. Always make sure the option protect your assets.

Debt consolidation may make you worse off than before

In reality, debt consolidation loan may not help you spend within your budget. If you fail to face the real problem on how you spend debt consolidation loan may leave you owing twice the money.  Stick to your budget or else things may not work very well for you.

Available alternatives

You may never get out of debt without addressing the reasons why you’re in debt. Therefore, sit down and prepare a budget and a debt repayment plan. Exploit all the possible alternatives, reach out to your creditors and see if you can negotiate the payments and interest rates with them. You may come up with a rewarding system to appreciate your progress.

In overall, a debt consolidation loan comes with benefits and drawbacks, and if you are not careful before getting the loan, the effects may result in more serious financial crisis. And because this was not your goal, weigh the options available ad see if taking a debt consolidation loan will really help you get out or will leave you worse off than before.

Best Credit SG Pte Ltd

Formerly known as Cing Dien Credit, we have rebranded ourselves and is now serving you as Best Credit SG Pte Ltd. We have been a licensed moneylender in Singapore since 1985! Making us one of the longest standing moneylender in Singapore. As one of the best money lender in Singapore, we have help numerous people who are in need of money since the day we started! Need cash urgently to settle some problems? Let us know. We are confident that we are able to provide you with the necessary cash. Our doors are open from Monday to Friday 11 am to 8 pm and Saturday to Sunday 12 pm to 5 pm.

Operating all these years has help us to accumulate valuable experience that has help us to understand your needs better. In addition, it has also allow us to come up with better solutions for your cash problems.

Furthermore, Best Credit is one of the money lenders open on Sundays! We are open every day except public holidays to serve your needs.

To find us:

You can visit our office at Blk 372 Bukit Batok Street 31 #01-374 (Level 2) Singapore 650372. The closest MRT to us is Bukit Gombak MRT. Our office is situated directly across the road from the MRT station. Drop by our office today for a free consultation!

You can also choose to drop us a call at  +65 6272 5538 anytime you have a question about our services!

16 thoughts on “Is Debt Consolidation The Way Out Of Your Debt? (2017 Update)

  1. Cornett^I love this cap and it fits perfect. Gonna buy other colors.~5|an.honest.guy^Great looking hat! I bought it hoping that it would fit my XL size head. It doesn’t but that’s not the hat’s fault! I don’t wear it because it’s too tight on me&#44 but if your head is large size or smaller&#44 this should work for you.Yes&#44 it has a distressed/vintage effect. If you want that&#44 this is for you.~5|bfo^It’s a functional&#44 low profile&#44 warm/hot weather hat&#44 and has a curved brim. I didn’t realize it was one of the “ripped” hats – could have done without that. Good for larger heads&#44 and I like the dark blue under the brim – reduces glare – but the material seems pretty cheap – not sure how it will hold up. I typically wear hats into the ground&#44 get several years out of them&#44 then replace. Not sure how much I’ll get out of this one. Looks good if you are into the weather beaten look.~3|David George^Good construction&#44 great price&#44 good under bill sun blocking liner. Cool hat for hot weather crusing this Summer. My niece liked it so much I bought her one. I haven’t worn it yet&#44 tried it on fitted the bill Ready to go and I am sure it will fit the bill. No pun meant there.~5|Richard W^My wife says that it is me…worn and comfortble. It is prewashed and slightly torn up before you buy it. It fits not only my head but my attitude in life to enjoy&#44 if it works and is comfortable. I am not into fancy expensive \”stuff\”. I am laid back and retired.It is very nice to wear on a hot or humid day as the entire back of the hat is mesh. The bill is dark on the bottom side so it is easy on ones eyes in bright light and preformed but I bent it to suit how I like it. It is a low profile so it doesn’t stick up high.~4|milesend^Requiring a good sun protecting hat with ventilation&#44 I chose this one and it really “fits the bill”&#44 so to speak.The ragged look&#44 with no logo is what I wanted. It reminds me…OF me! lol…This hat is exactly what is shown in the photo. No surprises!~4|Brad^It’s not a bad hat but it’s definitely not low profile. I need a low profile hat because my head is small. This hat was inexpensive so I’ll keep it for a yard work hat but it looks rediculous on my head. I wish people would stop advertising low profile hats when they aren’t.~3|Sean Walsh^I love orange&#44 the love the faded distressed look of this cap&#44 and I love how light and cool it is. You can wear it for a run or bickered&#44 or dress it up a little with jeans and boots or heals. My daughter keeps trying to sneak off with it&#44 so that says a lot as well since she has amazing taste in close.Looks exactly the way it does in the phones. Great deal for a great casual cap.~5|BHZhen^This hat is exactly what I’d hoped it would be–very soft&#44 has the “distressed/faded” look&#44 is perfect for a female with a thin face or for a child. The low-profile bill and front look a little small on my husband.~5|Dave Bowman^One size fits all. Lightweight&#44 comfortable&#44 easy to adjust. Keeps my head protected and cool.~5|rambelmont^First&#44 the main color is slightly paler than natural — more a linen– no problem for me — and there is a nice white cord for contrast around the top of the curve (photo) — overall&#44 prettier than I expected.As for fit&#44 the length of curve is 16.5 inches. Unlike some of my other visors&#44 this is more of a circle than a “U” shape. In the photo&#44 you can see my red visor fits more snugly along the sides and not at all behind the ears. This one is pretty loose at the sides but the curved tips at the end hold it on behind the ears. Both are comfortable for me&#44 but some reviewers complain of headaches&#44 so I wanted to mention this. BTW&#44 I have a large head for a woman.~4|L. Clark^It hurts after about an hour+. I had one like this before and must have been able to stretch it out because after a short time I had to take the new one off because it was making my head hurt. It is not too small — it is just too tight. I ended up buying the velcro kind which I purposely stayed away from before but quickly realized that is the way to go. I love that it has the ability to change the tightness and you can still get your hair over the back of it if you so choose. I’ll probably wear the clip-on from time to time hoping that I can get it stretched out like my old one.~3|V. Carnahan^I should have returned this item but I procrastinated and it is still in the box. I have looked for this type visor locally and could not find one to replace the one I have worn out. The problem with this one is in the manufacture … at the ends of the u-shaped band&#44 the fabric has been finished such that there is a large bump on the inside that makes the visor uncomfortable after just a few minutes of wear.~4|Pat S^This visor has a nice wide brim and is very comfortable. No ‘hat head’! Great visor.~5|love amazon^I have a small head and have trouble finding hats. I read the reviews and ordered one. It fit great and looked good on me. My niece from TX came up to Maine for a vacation and saw mine&#44 tried it on and asked where I purchased it. She had trouble finding visors that were open in the back. I ordered two for her and she was delighted!~5|Amazon Customer^I love the large brim which is very difficult to find in stores but very much in demand in high altitude climates with a lot of sun. Although I have olive complexion&#44 per my skin doctor I am to stay away from the sun’s ultraviolet A (long-wave) and ultraviolet B (shortwave) rays causing dark pigmentation spots. UV radiation is part of the electromagnetic (light) spectrum that reaches …. and around the eyes – areas that usually sustain a lot of sun damage to avoid facial sun damaging rays which cause skin cancer […]~5|JoAnn S.^I really like this visor because it has a nice wide brim which is very helpful while playing golf. It’s also good while watching my grandchildren at soccer and softball games. The only reason I didn’t give it a 5 is because it is a little snug. It’s not so snug that I can’t wear it and I think it might loosen up with a little use.~4|lorafair^It’s well made & fits&#44 but the brim is really really large. I guess if you have a bigger head than mine it would look ok. On me it looked ridiculous. I keep it in car for emergency sun issues.~3|Sarah M. Walsh^I can’t wear this more than an hour without getting a headache. I have an average sized head and it’s not adjustable&#44 too bad because its a great sized brim for the beach.~3|Toastie^This has been a lifesaver from the sun. I don’t know what I was thinking&#44 trying to walk in the summer without a hat! This makes a big difference.~4|

  2. Edwin Melendez^Funny shirt~5|courtney wurzer^I was very happy with this purchase&#44 came in time before christmas and my mom got a good laugh out of it.~5|Blue^Nice quality t- shirt with Grumpy cat!~5|ncpmorrn^THIS SHIRT WAS REALLY GOOD QUALITY. IT WAS CUT A BIT ON THE LARGE SIDE&#44 BUT THAT’S NOT A BAD THING WHEN IT’S REALLY HOT OUT. I WOULD BUY FROM THIS VENDOR AGAIN~5|rjon^Material is of adequate quality for intended use.~4|heather^My boyfriend is a huge grumpy cat fan! I got it for him for his birthday and it is absolutely awesome. Good quality for a good price. I love it!~5|B. Dishman^Neat gift! She loved it!~5|

  3. Albert S.^Good quality shirt. Saw previous reviews about ordering the next larger size up than normally wear. I did so and the shirt fits me fine. Seller had fast delivery. Very happy with shirt.~5|Amazon Customer^Quite happy~5|Philip Christos from Sarasota^Nice print&#44 good quality t-shirt. Very happy.~5|jose luis baez^Fit as expected great price fast shipping for prime members~5|Thomas J Murphy^Nice shirt&#44 good price and very fast delivery. I expected the sizing to run small but this is an American style fit. You can buy with confidence. Printing is sharp as well.~4|Mike Foltz^Liked it but it’s runs a little small &#44go up a size when ordering.Nice shirt tho.~4|W. Jones^Friend loved it! Fit just right.~5|Amazon Customer^Looks cool but size is definitely small for a man. I ordered a medium size & it looks like a tight fitting small.~3|Amazon Customer^A little big~5|Tammy Heller^It cane in tbe mail quickly n fit good.~5|

  4. rolfdenver^Great quality for the price. Nice design. I am sure many people don’t get the joke and say “I didn’t know American Samoa had a university let alone a law school.” But that’s to be expected.~5|Inez P.^As die-hard fans of “Better Call Saul”&#44 it was a delight to find this t-shirt. Better still was finding the fit to be on point (2XL) and the material as a good quality cotton. Sometimes on Amazon the pictured color is different than the item received. Not so here: purchased the one called “black” and it is true to color. It made for an excellent gift.~5|Mickey^Quick delivery. Size was correct. Nice quality. Too bad very few people get it.~5|Ruth9600^When it’s too warm for my addicted TV watcher to wear the sweatshirt!~5|Mark F Ashley^Nice heavyweight tee&#44 excellent quality.~5|YYMAN^Perfect size&#44 nice quality shirt&#44 gorgeous print.~5|Amazon Customer^Got the Large. Good quality Gildan shirt and quality graphics. Looks durable&#44 well made. Fast shipping.~5|yesitsdave^Good quality. Should last awhile.~5|

  5. Kim F^Came across peace frogs recently and bought several shirts.The seller was excellent and t came very quickly. The color is much brighter than it shows in the picture. After extensive research on the size&#44 most of which stated it ran large I ordered a L instead of an XL. That was a good choice&#44 the L fits perfectly. Got a compliment the first time I wore it. Highly recommend this shirt and the seller.~5|Salyut 5^A bit undersized&#44 order on size up from your regular size.~3|Susan A Daiza^Great product and service!~5|

  6. BboyGi11s^The design of the hat is (of course) frayed&#44 and the rips look very realistic. Up close&#44 it is noticeable that the “broken” seams are styled purposely&#44 but from a distance it looks real. This actually fits me very well and the material (100% cotton) is quite soft and comfortable. This is my new favorite cap.~5|Mayhem^I’m not the biggest fan of hats that sit to high on my head. Ordered this one in hopes it was truly low profile and it was. The herringbone pattern looks really good and the stitching looks good. Material is a little thin but for the price was a great buy!~4|Ashley Feely^Great!~5|JA642^Got this as a Christmas present for my husband who is very picky about hats and he LOVES it! Fits perfectly and is low profile as advertised.~5|Avionish Avionish^Does not fit snug!~4|

  7. What’s up,I check your blog named “Is Debt Consolidation The Way Out Of Your Debt? (2017 Update) – Best Licensed Money Lender in Singapore” daily.Your writing style is witty, keep doing what you’re doing! And you can look our website about love spells.

  8. Walter Van Lue Jr^Daughter absolutely loves this hoodie!~5|B. Cleary^Received the sweatshirt a lot quicker than the estimated time to receive it. The size ran smaller than regular sizes. Quality was good. It would cost more to send it back that the sweatshirt cost itself so we just gave it to a smaller sized friend.~3|yadira C.^Do not buy this! I’m so disappointed! I recommend going to the Magcon website and buying the official merch.~3|Jennifer^Horribly disappointed. Waited a long time for this and then received and its super small and thin!!!~3|Chloe Young^do not buy! i got a totally different sweatshirt that wasn’t even a sweatshirt it was some kind of zip-up from tokyo that was navy blue and didn’t have any kind of cameron dallas logo on it. horrible!~3|Amazon Customer^Bought one the same size at Magcom and it fit great&#44 ordered the same hoodie&#44 different color and it was really tight. So I guess it comes sized way smaller than the ones sold at Magcom. Couldn’t even wear it.~4|upb4sunrise^Runs small- seller never responded to question~3|Amazon Customer^I do not at all recommend this product to anyone. First of all it took a full month to deliver. Second of all the material inside is itchy and not soft at all&#44 third of all the lettering is not white it’s gray&#44 as well as the size runs very very small. Also I feel that it’s very poorly made. I dont not recommend it at all I am not even getting the bigger side i am just returning it…. it’s not worth it… rip off I do not recommend it at all. ( also nothing like the picture at all!!) the size in the picture is a medium it’s small enough to fit a 10-12 year old!!~3|Amazon Customer^i loved the sweater but it’s just too small. please contact me by email if i can return and get a larger size.~3|PAT ENTWISTLE^THIS ONE RAN VERY SMALL. BUT THE PRICE IS GOOD~5|

  9. M. Love^I came of age in the 60’s and&#44 while I didn’t attend Woodstock&#44 it has always been a part of my cultural heritage&#44 In fact&#44 I have a large framed Woodstock poster prominently displayed in my home. So&#44 imagine how excited I was when I came across this Beautiful Woodstock T Shirt. The shirt was reasonable priced&#44 and when I received it&#44 I found it to be very well made. I like my T’s on the large side&#44 so I bought a 2XL and it fits the same as other shirts I have purchased in that size. I am 66 years old&#44 but proudly wear my Woodstock shirt as often as possible. In fact&#44 I might order a second one just in case I ever wear this one out. Great buy. Highly recommended. Marc Love&#44 Elkhart&#44 IN.~5|Ruth E. Dickson^I’m so pleased. I ordered a different Woodstock t-shirt from a different seller and I was so upset because it was terrible quality. This one is EXCELLENT quality! The shirt is a nice weight and the design is perfectly centered and just the perfect color density to look sharp on the shirt. I am so pleased with this t-shirt. I’ve wanted one for a long time&#44 and thought I finally had one when the first one arrived. But it wasn’t the end of my hunt for a Woodstock t-shirt. This one is. I finally have my Woodstock t-shirt. I will look for other Trevco t-shirts from Popfunk! (Enjoy your pizza day&#44 Popfunk!)~5|CharleenD^Love this shirt. It is a little larger than expected. I made a wrong assumption. Because the shirt was offered in Large&#44 X-Large and 2X (maybe one more&#44 I can’t remember)&#44 I assumed the large would probably not be quite as large as it was. Still love it.~5|Amazon Customer^The shirt was just as expected. The quality of the printing was good. The shirt itself is on the thin side&#44 not unusually so&#44 and generous in size but fits fine. Overall I’m satisfied with this shirt for what we spent on it&#44 you could certainly find heavier weight shirts if you wanted to spend more. My musician BF is very pleased with it.~5|Susan Miller^Extremely disappointed. I received a grey polyester shirt with horrible screen printing. Definitely NOT what was described in the ad. I was so excited to get this shirt and so let down~3|Angel Salgado^The shirt looks exactly as shown in the picture. The medium-sized shirt I ordered fitted great; it is a medium-large rather than medium-short. Very pleased with the my purchase.~5|Therapist^Nice quality shirt with great design. I wear either a large or XL but in this case the XL after washing fit perfectly. Highly recommended!~5|Jean^Nice colors good material. Havent washed it yet.~5|KK^Usually T-Shirts fit loosely but this does run on the small size~4|loren^Awesome tee. Looks good and is soft. A light material.~5|

  10. NY MOM^This was a really cute shirt and my 9 year old girl loved it …. however I ordered a medium and it was too small so i had to return it. She typically wears age 10 in Gap – but the sizing was unclear for this shirt and I went by the reviews to figure out the size. If I had ordered a large it would have been fine.~4|Amazon Customer^The shirt was packaged fine and delivered on time however there are three holes in the neck where the tag was ripped out before delivery. I read this in another review and should have paid attention to it. Low quality&#44 not recommended for purchase.~3|angieph^It’s very cute&#44 but this is a child’s size. I ordered extra large and usually wear women’s medium. It was pretty snug.~3|Amanda T^Shirt had tag cut out of it with visible portion remaining. How unprofessional.~3|

  11. Lisa Alexander^Hubby bought this because no matter what he’s doing he would rather be fishing then anything else. He loves this hat and says it is so comfortable. Fits very well. Would highly recommend to anyone~5|christina Griesemer^got this for my husband the fit is good he like the low profile caps. He thought it was really cute and will wear it a lot especially fishing!~5|Patricia^Great hat&#44 good quality for both the hat material and the lettering. I bought it as a gift and they loved it!~5|B. Ali^Perfect fit and perfect look. this is a high quality item and I will get allot of years service with this hat.~5|AG_Mom^My Dad has a smaller head&#44 so this hat was perfect. I like the adjustable strap in the back. He said he would wear it all the time!!!~5|Rachel Gammal^Love love love this hat but it runs a bit small. Great quality and color is true to the picture.~4|

  12. Don da?Quote^I ordered XXL. I wanted a bit larger in size. I washed it in warm water and dried it and it fits great. Just a bit loose like I like it!! I have worn it many times and it still looks new!! I just order another tshirt from them!!~5|RK^great design and fit&#44 gave as a gift and recipient loved it~5|Victor P.^Nice shirt will order more in the future.~5|StarkTech^Nice old-school shirt. Only wish the colors were a bit less washed.~5|Rick Olson^Great shirt!~5|Wendy^My husband loves it.~5|scott grud^it fits like it should and they should carry more mixed fabric blend t-shirts and less cotton because they don’t shrink so bad..~5|dantana4ever^Great Shirt!~5|Me^It was perfect!~5|

  13. Will^Hoodie is a little thin but still pretty warm. Wish it had the usual hoodie pocket but not a major set back. The print on the front is not as bright and bold as it appears in the picture but still visible.~4|Eamon Costello^Not a bad sweatshirt&#44 but it is really small and the printing on it isn’t even close to being as bright as the picture. Blatant false advertising.~3|Amazon Customer^I love this! If it had pockets&#44 it would probably be my favorite hoodie!~5|

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