+65 6737 3392

Loan Scam In Singapore

Between January and November 2019, at least 1700 cases have been reported, with at least $6.8 million cheated.

Victims would typically receive a SMS text message or WhatsApp message offering loan services. The sender may even claim to be a staff from a licensed moneylender. Interested parties are then instructed to transfer a sum of money as a deposit before the loan can be disbursed. However, after transferring the money, no loan was disbursed. The victims only realised that the message was not from a licensed moneylender, and the person whom they had been corresponding with did not exist, after contacting the respective licensed moneylenders that the scammer had claimed to represent.

In another variant, perpetrators would send victims PDF documents, purportedly from the Ministry of Law and/or Monetary Authority of Singapore, informing them that they are required to pay a deposit sum and 7% GST for the loan amount, before the loan can be approved. This was to deceive the victims into believing that they were corresponding with a licensed moneylender. In some cases, the victims received another PDF document informing that the loan request had been processed. When these victims declined to make the payments, the perpetrators would harass them by claiming that the loans have already been approved and that they had to pay a processing fee to cancel the loans.

Members of the public should take note of the following:

a.  A licensed moneylender is not allowed to make any cold calls or send any unsolicited text messages to members of the public.

b. The licensed moneylender is obliged under law to verify the identity and particulars of the borrower at its approved place of business. The licensed moneylender cannot approve or grant a loan to a borrower remotely. The address of each licensed moneylending office is published on the list of licensed moneylenders on the Ministry of Law’s Registry of Moneylenders website at https://rom.mlaw.gov.sg/information-for-borrowers/list-of-licensed-moneylenders-in-singapore/.

c. A licensed moneylender will not ask a loan applicant to make any payment before the disbursement of the loan, or to make any payment to secure the disbursement of the loan. This includes GST, “admin fee”, “processing fee”, or any other fees. An administrative fee may be charged by the licensed moneylender after the loan has been granted, but this will usually be deducted from the loan principal that is disbursed to the borrower.

Members of the public are advised to take the following precautions with regard to such scams:

a.  Ignore such advertisements. Do not reply to these messages. Instead, block or report the number as spam on WhatsApp or through third party applications.

b.  Do not give out your personal information such as NRIC, SingPass or bank account details to anyone.

If you receive a cold call or unsolicited text message asking if you would like to take up a loan, call the anti-scam helpline at 1800-722-6688 to verify. Visit www.scamalert.sg to find out more about scams. Join the ‘Let’s fight scams’ campaign at www.scamalert.sg/fight by signing up as an advocate to receive up-to-date messages and share them with your family and friends. Together, we can help stop scams and prevent our loved ones from becoming the next scam victim.

Is It Safe To Apply For A Personal Loan?

It is common to see an adult say “I really wish I can go back to my early childhood.” This is so because at that stage of one’s life there’s no need to be worried about getting a good job, managing a load of bills and remaining relatively debt-free. While battling with these things as adults, there is always the need to save up for expected, and most importantly, unexpected expenditures.

What if you are unable to save up enough money for your immediate needs? What if you do but what you have is definitely not enough at that instant of time? You might want to seek the help of a bank at such trying time, but aren’t you aware of the stress needed to be gone through before you could be granted a loan from banks? Then, what option(s) do you have left?

You are right, the moneylender will definitely save you from that embarrassing moment. However, there is a need to distinguish between money lenders as some are out there just to make you a victim of their high-interest rates. These ones are the loan sharks or unlicensed money lenders and it might do you a lot of good staying away from them. Licensed moneylenders, on the other hand, are constrained by the amount they can loan, the fees they can charge and with a favourable interest rate.

ABM Creditz Singapore Pte Ltd is a licenced Singapore Money Lender which has been in operation for more than a decade, and, of course, with a great reputation in what we do.

Why You Should Choose Us?

We believe loan acquisition, especially for personal use, shouldn’t be another hurdle every individual has to battle before they can actually put things right in their financial life. Convenience and quality loan services are our watchwords, and everyone should be a beneficiary. See more reasons below why we should be your go-to money lender during your financial constraint.


Of course, you should be fully aware of the “loan sharks” whose ultimate aim is to make you pay an unreasonably high-interest rate. It is very necessary to check for the license of any self-acclaimed money lender before going into any agreements with them to avoid unnecessary problems later. ABM Creditz Singapore Pte Ltd is fully licensed with a license number 145/2018. Our reputation matters.


This is definitely one of the important things to consider when applying for loans from money lenders. Any businesses that have no physical address could be up to something and that’s what you should be wary of. Our company is located at 1 Park Road, People’s Park Complex #01-12, Singapore 059108. Apart from this, we also have a reputable presence online.


We are fully aware that keeping your personal info safe is of utmost interest to you. As a Singapore Licensed Moneylender, your personal details are secured, we have an obligation to keep your personal information and transactions personal.


Applying for our loans will probably be the easier thing you ever do. As long as you meet the necessary requirements and follow every process on our application page, we will approve your loan application within 30 minutes. The three ways to do this are;

  •  Apply online: The application process starts online via our website. The online application is very easy, straightforward and should be completed within 2 minutes or less. After you must have filled the form and agreed to the terms below it by clicking on the “Get your loan now” button, you will be contacted by our representative who will guide you through subsequent processes.
  • Verification: After being contacted, you are expected to bring the necessary documents to our office located at1 Park Road, People’s Park Complex #01-12, Singapore 059108. This is in accordance with the license condition that says there must be face-to-face interaction with crosschecking of documents before loans can be disbursed.
  • Funding: After your eligibility has been confirmed and all the relevant documents have been signed, funds can be approved within 30 minutes.

Do you still have any doubts? You can give us a phone call via +65 6737 3392 or visit our FAQs page for clarification and subsequently take advantage of our quality services today.

Find out which loan type is suitable for you.

Types of loan Singapore
Choosing the key to success

Personal Loan

Do you feel that it is hard to decide which borrowing solution can match your personal desires and needs in the most appropriate manner? Here’s the answer. Personal loans can bring the perfect solution to all of your dreams.
Dreams and desires vary in terms of the nature of human beings, and it is not always possible to fulfil them from the existing resources and money, so in that way personal loan comes in existence. However, before choosing that, make sure you use that money in the best possible way.
There are several loan plans available for you, and you can decide which one is pretty easy and best to choose. It is always a wise decision to go for the online process of getting personal loans; it is effortless and straight forward. To apply, you need to fill a loan application online, and an executive will directly call and approach you with different plans and deals as per your need.

Business loan

In the ever-changing era and global market, business loans are taking the most and preferred option of fund sourcing. Although the bad credit position of individuals may prohibit the solution, there are many possible ways to overcome and get the desired amount. The idea of business loan is quite genuine and safe and evens the modern and trendy with full reliability and trustworthiness.
Instead of wasting time to visit agents and apply for the loan, be wise and go online to fill a simple form and you will be in touch of a professional moneylender soon and get the best and suitable plans that will suit your need most.

Bridging loan

If you are looking to buy a new property immediately but don’t want to sell the existing one on throwaway prices, then I must suggest you to go for the bridging loans as this is a type of loan that can be taken for some designed purposes and helps the borrower to arrange cash instantly by that way.
Although bridging loans comes with high-interest rates, this is not set on stone as there are many plans available that make it much cheaper and affordable, and the borrower can get it with his own choice of the rate of interest. We provide bridging loans on several interest rates as per the preference of borrowers.
We make the loan process as easy as it can be and allow the clients do not need to pass through the lengthy and time-consuming process as this is our focal point too. To apply and to get the best quotes, you need to go through our website and fill a small and simple form. One of our executives will call you immediately and approach you with the most suitable and cheaper plans which you can opt as per your need and affordability.

In the ever-changing era and global market, business loans are taking the most and preferred option of fund sourcing. Although the bad credit position of individuals may prohibit the solution, there are many possible ways to overcome and get the desired amount. The idea of business loan is quite genuine and safe and evens the modern and trendy with full reliability and trustworthiness.
Instead of wasting time to visit agents and apply for the loan, be wise and go online to fill a simple form and you will be in touch of a professional moneylender soon and get the best and suitable plans that will suit your need most.
Bridging loan:-
If you are looking to buy a new property immediately but don’t want to sell the existing one on throwaway prices, then I must suggest you to go for the bridging loans as this is a type of loan that can be taken for some designed purposes and helps the borrower to arrange cash instantly by that way.
Although bridging loans comes with high-interest rates, this is not set on stone as there are many plans available that make it much cheaper and affordable, and the borrower can get it with his own choice of the rate of interest. We provide bridging loans on several interest rates as per the preference of borrowers.
We make the loan process as easy as it can be and allow the clients do not need to pass through the lengthy and time-consuming process as this is our focal point too. To apply and to get the best quotes, you need to go through our website and fill a small and simple form. One of our executives will call you immediately and approach you with the most suitable and cheaper plans which you can opt as per your need and affordability.

Where to Look for a Fast Cash Loan in Singapore

In this difficult economy, most of us barely have enough money to meet our day-to-day living expenses, let along put money away for the future. The individuals caught in this trap are largely dependent on their financial institutions to meet their needs. They need to have enough cash on hand or sufficient credit to meet their needs, educate themselves and their children, pay medical bills, renovate their homes, buy groceries, pay family and job-related expenses, pay off old debts and keep the family car in working order.

In this kind of economy, a fast cash loan can be a real lifesaver, but not all fast cash loans are created equal. When you need money fast to get ahead and pay off your bills, you need to work with a licensed moneylender. These licensed moneylenders are here to serve clients like you – people who need a quick and hassle-free loan in a short amount of time.

Abm creditz - fast cash loan

Licensed moneylenders in Singapore help clients who are facing problems like financial scarcity and long-running bad debts. They serve clients who have faced obstacles in the past and are now struggling with bad credit. They help their clients get back on their financial feet and get the money they need when they need it.

Searching for the right loan is not a common scenario in Singapore and elsewhere. The hopes and dreams of a better lifestyle are hard to achieve with a low income, and sometimes a bit of financial help is all that is needed. Beyond those needs, financial emergencies do arise, and when they strike it can be difficult to cope without a quick loan. Fast cash moneylenders are there to fill the gap, providing the funds individuals need to meet their financial obligations and get back on their feet.

Licensed moneylenders in Singapore can also help individuals pay off their old debts and avoid the severe penalties associated with bad debts. These moneylenders do not require a ton of paperwork, and the application and approval process is fast and easy.

If you are planning to visit a fast cash moneylender in Singapore, you should first contact the financial experts on the phone to talk about your loan requirements and your current situation. The experts on the other end of the line will help you find the best loan, a loan that is personalized for your needs and your financial situation.


Life is full of uncertainties, and the unexpected happens all the time. In the face of this kind of uncertainty, it is good to know that there is money available when you need it. The fast cash moneylenders of Singapore are here to provide fast and easy loans to the people who need them. They help their clients avoid being strapped for cash all the time, and those lenders give homeowners an alternative to mortgaging their property for fast cash.

abm creditz - fast cash loan in Singapore

If you need cash fast, just call or stop by the office to apply for the loan. You can even apply by phone at+65 6737 3392 or contact us at online and simply finalize the loan process at our office. With so many benefits, it is easy to see why so many people prefer these moneylenders over banks and other financial institutions.


ABM creditz are dedicated to helping people get the financial assistance and emergency help they need. We understand how hard life is these days, and we want to help. For more information or to start an application just visit our website at abmcreditz.com.sg. We look forward to working with you.

Finding the Right Fast-Cash Loan for You

Singapore citizens often meet financial crises by taking out fast-cash loans. Unfortunately, when someone applies for fast cash, it means that the need is urgent. Due to that severe urgency, they forget to look at the terms and conditions of the loan and sometimes end up in even deeper financial trouble.
fast cash loan by ABM Creditz

Here are the different types of popular fast-cash loans available in Singapore:

  1. Personal Loan: This is a widely-used type of unsecured loan. (The term “unsecured” means that the borrower does not need to offer any collateral to get the loan.) It has a set interest rate and the borrower pays back the same amount every month for a set period of time. Such loans are used for various purposes such as debt consolidation, emergency medical bills and other urgent needs. The amount loaned is based on the income and credit rating of the client.
  2. Payday Loan: Typically, this is a small, short-term loan made available very quickly – often in just a few hours time. It requires negligible or minimum paperwork. The loan amount is decided based on the monthly income of the applicant and is expected to be returned the next payday. In the event of collateral, the borrower writes a check to the lender for the loan amount and fee to be cashed on his next payday. Applicants need to be a minimum of 21 years and a maximum of 64 years old to qualify. Such loans are perfect for emergencies.
  3. Cash Advance Loan: This is very similar to a payday loan. The amount can be borrowed from a licensed moneylender before payday. No collateral is needed for this loan and it is usually approved and disbursed quickly. The income of the applicant determines the amount to be taken as a cash advance. Such loans are very expensive, but have a high approval rate.
  4. Debt Consolidation Loan: Individuals who are finding it difficult to keep track of all of their debts find debt consolidation loans to be the ideal choice. They consolidate small loans so that the applicant can focus on one single monthly payment. These loans are usually for a larger amount than emergency loans and are paid back in installments over months or years.
  5. Instant Cash Loan: When there is need of some extra cash for emergency needs then it’s a good idea to opt for instant-cash loans. The money is disbursed instantly once the applicant’s loan is approved by licensed moneylenders.

Singapore banks offer low-interest, long-term loans to customers with good credit ratings.
Fast-cash loans, on the other hand, are quite expensive, but keep in mind, they should be used only to erase a sudden financial crunch.

Searching online will give you the a list of licensed money-lending firms which offer the above loans at a lucrative rate.

Licensed Money-lending firms offer loans to people of any income group based on the income level. Loan Applications can be made online and, if approved, the loan will be disbursed quickly.
Fast-cash loans are the perfect choice for emergency needs.



How to tackle credit card debt problem

Looking for a solution to your Credit card debt problem?

First of all, you can take comfort in the fact that you are not the only one fighting the credit card debt problem. There are hordes of people who might have an even worse credit card debt problem compared to you; all of them seeking to eliminate the credit card debt problem. So what is the solution to credit card debt problem?

Well, the solution really is to smash the credit card debt problem with full force and eliminate it completely. Now how do you do that?

There are many ways in which you can tackle credit card debt problem. Different people suggest different ways of tackling credit card debt problem.
However, here is a simple step by step account of what you can do to get rid of credit card debt problem.

1.    Take stock of the situation i.e. draw up a table with the following fields with Credit card name, balance, payment due day (the day of the month by which you are required to make payment of your credit card bill), interest rate, reward points earned, redemption offers applicable for your reward points balance, remarks.
2.    Fill the table up with data from your various credit cards.
3.    Figure out which credit card is contributing the most to the credit card debt problem i.e. interest rate and highest balance.
4.    Check if reward points can be used to make partial payments or cover any kind of fees or if the points can be bartered for something you need (spending less means preventing the credit card debt problem from getting worse).
5.    Draw a comparison table of offers available for eliminating credit card debt problem (i.e. consolidating credit card debt).
6.    First eliminate debt on the credit card that is contributing the most to the credit card debt problem.
7.    Practice controlled and healthy spending habits (after all you are looking to get rid of credit card debt problem and not aggravate the credit card debt problem).
8.    Look for alternative means of adding to your income (more money means earlier termination of credit card debt problem)
9.    See your debt reduce with time and celebrate the day when you finally put an end to your credit card debt problem.

Remember this is just one of the ways of tackling credit card debt problem; you might devise your approach for doing away with credit card debt problem.
Any and every approach is good if it fulfills the objective i.e. eliminates credit card debt problem.

5 ways to Raise Capital for your Business

Raising capital to start a new business may seem like a daunting task, but it need not be overwhelming if you follow a few basic business practices.

If you have a viable idea that will net a return for your investors and prepare a compelling business plan the chances are good that you can find investors to join you.

If you’re thinking about getting outside or equity capital to help fund your business, there are some things you need to do first, that can make your business more attractive to investors. Follow these simple ideas, and you’ll be well on your way to raising the money you need.
First, always talk to a qualified business attorney (not your family lawyer). There are a lot of laws pertaining to how equity capital can be raised from the public, and the laws change often. You need someone who understands not only these laws, but also how to make sure that any business contracts are written to protect you and your business, especially the fine print.
1. Taking your company public. Although security laws in Singapore have made it easier for companies to go public, and offer stock as a way to raise needed funds, this is still probably the most risky choice. It is usually not a recommended option for very new or very small companies. Because of the number of legal issues involved, consulting with a knowledgeable attorney beforehand is vital. There is also a lot of stress involved in running a public company, and a considerable loss of autonomy and control. Before making this choice, be absolutely sure that this is the wisest course of action for your business.
2. Getting money from relatives. Yes, it can seem like begging, and it’s a difficult thing to have to swallow your pride. Surprisingly, in a recent survey, almost 30% of entrepreneurs said that they raised all or part of the capital they needed through family members. If this is your choice, make sure that you have your attorney draw up a regular business contract. When approaching family members, talk to them about their investment the same way you would any other outside investor. Tell them about how much money they can make, not about how much you need their help. And make sure that you keep to your end of the agreement.
3. Using your savings or credit cards. This is the most common way for entrepreneurs to raise needed business capital. Before choosing this method however, talk with your financial advisor. You want to look at the long-term consequences of using your savings, life insurance or credit cards, especially in the event that your business venture fails, or does not bring in the projected return on investment (ROI). If you do end up financing your project using credit cards, make sure that you shop around first, and find the card that will offer you the best rate and gives you the most “bang” for your buck.
4. Venture Capital and Angel Investors. Before even looking for venture capital, look at your company from an outsider’s point of view. Ask yourself these questions: Does your company have a solid track record? (Most venture capitalists don’t invest in start up companies). Does your company have the potential of becoming very large in the next five to seven years? (People don’t invest in your company out of the goodness of their hearts. They’re looking for a return on their investment — the larger the better.) Does your company own a good percentage of its market, or does it stand to gain a large percentage in the next 12 to 18 months? (Contrary to popular belief, your company doesn’t have to be involved in high tech to attract venture capital). If you can answer yes to the above questions, your next step is to find a venture capital firm whose ideals and goals are in line with yours. Your next step should be to look at your “circle of influence” and see if you know someone who can give you a personal introduction to someone at the venture capital firm. (People invest in people, not just companies.)
5. Potential or Current Employees. Surprisingly, one of the most common ways (especially for new companies) to raise equity capital, is by inviting your potential or current employees the opportunity to become investors. With this method, not only do you get a really committed workforce, but many equity employees are also willing to accept a below-market wage in the beginning (especially if you do the same). There are other benefits, but this choice is not without its pitfalls as well. Again, before going this route, talk to your business attorney, and put policies into place that plan for potential problems. For example, what do you do if an employee’s work becomes substandard? Or an employee quits and goes into competition with you after learning all of the company secrets? Putting a risk management plan into place and considering all contingencies is your best bet for this option.
No matter which choice you make in looking for equity capital, by planning ahead, doing your homework and following the advice of your attorney, you’ll increase the probability of raising the money you need and making the relationship between you and your investors a profitable one.

Tips To Avoid Bankruptcy

When individuals or businesses cannot meet with their financial obligations, many make the assumption that the only solution is bankruptcy.
That is not always the case though.

If the right steps are taken from the beginning, you can keep yourself and your family out of financial trouble and away from bankruptcy.

First off, start by educating your children. Many of us growing up werenít presented with the tools and knowledge to establish and maintain good credit and keep away from the scare of bankruptcy.

Parents need to be honest with their children about finances. Teaching children that hard work, no matter the job, has its rewards and if you spend on a budget, there will never be a fear of bankruptcy.

Establishing a budget is also key in the prevention of bankruptcy. You cannot spend what you donít have. Many people today have multiple credit cards and are in essence spending money they donít actually have, plus more for interest.

So much so that people are paying off credit cards with credit cards and causing a terrible chain reaction. Spend what you can afford, after the bills are paid.

But you will want to make sure you have something socked away for an emergency. Something along the lines of two thousand dollars is a good base to have stored away for an emergency.

It is another step to take to keep out of financial trouble. Probably the most important thing though is to watch your bank account. Don’t get yourself into a
situation where you are overdrawn.

The fact is more than a third of adults rely on their banks overdraft to keep them going on a month-to-month basis.
Such actions are ones that lead individuals on a path to bankruptcy.

Data Protection Policy

Data Protection Policy

The Personal Data Protection Act (PDPA) establishes a data protection law that governs the collection, use, disclosure and care of personal data. It recognizes both the rights of individuals to protect their personal data, including rights of access and correction, and the needs of organizations to collect, use or disclose personal data for legitimate and reasonable purposes.

ABM Creditz  respects your privacy and recognises that your personal data is important to you. We conduct our business in compliance with the Personal Data Protection Act (PDPA) and have implemented additional measures to protect your personal information.

We ask that you read this data protection policy carefully as it contains important information about what to expect when we collect, use, disclose, store and/or process your personal data and how we will treat it. By continuing to visit and use this website, you confirm that you understand and consent to the terms of this policy.


Collection of Personal Data

Generally, we collect Personal Data in the following ways:

  • when you submit an application form, online application form or other forms relating to any of our services.
  • when you interact with our customer service officers, for example, via telephone calls, letters, face-to-face meetings and emails.
  • when you visits our websites and other websites which we own or manage, using technologies such as cookies. We do not at our website automatically collect Personal Data unless you provide such information
  • we obtain it from other sources, such as employers, credit agencies, law enforcement agencies and/or other Public Agency;
  • when you provide us with any Personal Data relating to a third party (e.g. information of your spouse, children, parents, and/or employees), by submitting such information to us, you represent to us that you have obtained the consent of the third party to provide us with their Personal Data for the respective purposes.

Purposes for the Collection, Use and Disclosure of Your Personal Data

We may, in the future, use your personal data for any purpose not prohibited by applicable law. This includes, but not limited to:

  • verifying your identity (including matching Personal Data with other data collected for other purposes and from other sources (including third parties and credit information companies)
  • to carry out credit checks and for the evaluation of creditworthiness
  • processing of payment instructions, direct debit facilities and/or credit facilities requested by you
  • to conduct investigations or take action in relation to bad debts, crime and fraud prevention, detection or prosecution, risk management, or to prevent you or the company from harm, illegal or unlawful activities;
  • to third parties who perform Services on our behalf (including but not limited to debt collection agencies, filing of claims and retrieval of payments from losses made by service partners)
  • any data intermediaries
  • any purposes which are reasonably related to the aforesaid.

Disclosure of Personal Data

We will take reasonable steps to protect your Personal Data against unauthorised disclosure. Subject to the provisions of any applicable law, your Personal Data may be disclosed, for the purposes listed above (where applicable), to the following:

  • financial institutions for purposes such as facilitating GIRO payments
  • collection and repossession agencies in relation to the enforcement of repayment obligations for debts;
  • advisors, including auditors and lawyers who advise us
  • relevant government regulators, statutory boards or authorities or law enforcement agencies to comply with any laws, rules, guidelines and regulations or schemes imposed by any governmental authority; and
  • any other party to whom you authorise us to disclose your Personal Data to.

Deemed Consent

You have deemed to have given their consent for the collection, use and disclosure of Personal Data in the following circumstances:

  • when you voluntarily provides your Personal Data to us;
  • when you are aware of the purposes for which you are providing your Personal Data to us;
  • it is reasonable for you to have provided the Personal Data to us in the circumstances; and
  • in any other circumstances where consent is deemed under the Act.

Contacting Us

Withdrawal of Consent, Access and Correction of your Personal Data,  if you:

  • have any questions or feedback relating to your Personal Data or our Data Protection Policy;
  • would like to withdraw your consent to any use of your Personal Data as set out in this Data Protection Policy; or
  • would like to obtain access and make corrections to your Personal Data records, please contact ABM Creditz as follows:

Email: [email protected]
Write in: Data Protection Officer
1 Park Road
People’s Park Complex #01-12
Singapore 059108
Tel: 6737 3392

This Data Protection Policy and your use of this website shall be governed in all respects by the laws of Singapore.

Techniques For Mastering The Topic Of Debt Consolidation

It is virtually impossible to describe the pain and suffering that extreme debt levels have on individuals and their families alike. For that reason, it is important for anyone dealing with that reality to gain some education on the topic of debt consolidation. The information presented below is intended to help such individuals assess their options with eyes wide open.

Don’t fall victim to companies claiming to cut your monthly payments in half with just one phone call. It is understandable that you want a quick solution to your problems, however, you can just be making your situation worse. Sit down and consider the different debt consolidation options that are available to you and decide on the pros and cons.

When consolidating debt, consider doing the footwork yourself. Consolidation companies may have fees associated with their services. However, you can easily make the same phone calls to your creditors and negotiate with them. There is no special consideration from the creditor about who calls, whether a service or you, the customer.

Find out whether or not the counselors at a debt consolidation company work on commission. Those that do often have ulterior motives. You may be advised to get a certain type of service that is not necessarily in your best interest. Someone who is not working on a commission is more likely to look at the whole picture and figure out what is best for your needs.

Before choosing a debt consolidation company, ask how the counselors of the company are paid. If the answer is “on a commission basis”, then you may be best to look elsewhere. Someone working for commission will say or do many things that are less of a help for you and more of a help to their overall income.

Examine how the interest rate for your consolidated debt is calculated. Fixed interest rates are an ideal option. Throughout the course of the loan, you know precisely how much you have to pay. Look out for debt consolidation plans with adjustable interest rates. Eventually, you will be paying more interest than you did in the beginning.

If you are struggling with debt and have a free and clear title to a car, boat or other motorized vehicle, consider a title loan. A title loan allows you to keep your motorized vehicle as long as you make your payments on time. Many times, you can lower your overall interest rate using this type of service.

Do you own a house but have debt? Refinance it and use the money to pay off your debts. When mortgage rates are low, you can use this method to consolidate your debt. Also, you may find that the payment on your mortgage is lower than before.

Debt has the ability to cripple life decisions and ruin relationships like almost nothing else. Therefore, when debt levels become truly unmanageable, it makes sense to explore debt consolidation as a potential solution. We hope the guidance provided above helps individuals from all walks of life make wise choices for their own financial futures.