Comments on: Is Consolidation Always the Answer? http://www.richcreditdebtloan.com/is-consolidation-always-the-answer/ Wealth, Leverage, Money, and Cash Flow Mon, 22 Feb 2010 03:59:20 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Clair Schwan of Frugal Living Freedom http://www.richcreditdebtloan.com/is-consolidation-always-the-answer/comment-page-1/#comment-1097 Clair Schwan of Frugal Living Freedom Sun, 19 Apr 2009 19:17:32 +0000 http://www.richcreditdebtloan.com/?p=465#comment-1097 All great points in this post. Well done with good insights. When I looked at the picture and the heading, my gut reaction was simply: "The guy on the right accepting the money has an expectation of success, and is willing to risk enslavement by the guy on the left who is lending the money. The lender is willing to take the risk of a loss because of an expectation of successful enslavement of the other. And, one of them will have their expectations met." The main point you make is invaluable - if you haven't decided to "quit your ways" that got you into trouble in the first place, then you simply can't borrow your way out at any price. Clair All great points in this post. Well done with good insights.

When I looked at the picture and the heading, my gut reaction was simply: “The guy on the right accepting the money has an expectation of success, and is willing to risk enslavement by the guy on the left who is lending the money. The lender is willing to take the risk of a loss because of an expectation of successful enslavement of the other. And, one of them will have their expectations met.”

The main point you make is invaluable – if you haven’t decided to “quit your ways” that got you into trouble in the first place, then you simply can’t borrow your way out at any price.

Clair

]]> By: Mr. ToughMoneyLove http://www.richcreditdebtloan.com/is-consolidation-always-the-answer/comment-page-1/#comment-500 Mr. ToughMoneyLove Thu, 11 Dec 2008 16:03:39 +0000 http://www.richcreditdebtloan.com/?p=465#comment-500 I believe that if someone actually collected the data, it would show that the vast majority of borrowers end up with a lower net worth as a result of a consolidation loan, because it frees up cash to take on more debt. I believe that if someone actually collected the data, it would show that the vast majority of borrowers end up with a lower net worth as a result of a consolidation loan, because it frees up cash to take on more debt.

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