The soldiers of our country face a great many foes in this world. One of the most subtle and stealthy is debt. It slithers into the lives of practically every military family. It does not respect rank or position. It is a problem that has an answer in the form of military debt consolidation.
Let’s face it. Our country has been in some type of war since the early 1990s, and it looks like there will be more war for at least a while longer. The military force of our nation is made up of some of our finest young men and women. Many of these young people graduate from high school and enlist in the military. At such a young age they are given the best of training our military machine has to offer. However, for many of them, they have never had any instruction or experience dealing with personal finances. For that reason many, many soldiers and their families find themselves in a great problem with debt.
Military debt consolidation loans can be a great asset as they can take all of your various payments and combine them into one, and can generally be automatically deducted each month. No more having to worry about missing a payment or debt collectors calling. Consolidation can also help to lower your monthly payment amounts by providing you with lower interest rates.
There are special programs available through military and non-military institutions. Some of them include the following:
- The Credit Counseling Foundation, a non-profit credit counseling organization that exists to principally help soldiers and their families deal with the management and resolution of their debts. They can be contacted by mail at 3350 N.W. 53rd Street, Suite 103, Fort Lauderdale, Florida 33309. Their phone number is 800-523-0102.
- Navy Federal Credit Union has some useful advice on how to pick the right type of loan and where to get your loan serviced.
- The Department of Veterans Affairs in Washington, DC offers help for all types of counseling through their Vet Centers. Readjustment counseling takes in a wide range of services for combat veterans and their families. Through this service program there are particular points of assistance and information and referral to community resources of which debt counseling and assistance for military debt consolidation is one.
Some things to consider when pursuing resolution of debt are:
- If you were actively involved as a member of any armed military personnel group for the United States of America, you are eligible for these loans.
- Selection of the right lender for your specific need must be carefully done. Do your homework and get several free debt consolidation quotes before you decide which action to take. Research locally available reliable financial institutions who may provide specific help for military personnel.
- There are secured and unsecured loans available depending upon the personal qualifications of the borrower. Remember that you are seeking help and the lowest possible rate of interest is a target for your consideration. Secured loans are easier to obtain and often are less expensive for your budgetary considerations.
Military debt consolidation is definitely a strong ally in the war on the economic woes of our society. Enlist the aid of those who know their work and love the fighting men of our country to help you resolve your debt issues.