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Borrowing Your Way Out of Debt: The Facts About Debt Consolidation Loans; Money Management International Provides Real World Advice About Debt Consolidation Loans.

PR Newswire

| September 26, 2003 | COPYRIGHT 2009 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

HOUSTON, Sept. 26 /PRNewswire/ -- Consumers now owe more than $1.7 trillion, not including mortgages. We are concerned about the economy and our jobs. With interest rates relatively low, some consumers may think that a debt consolidation loan is an easy answer to debt trouble. While it may seem easy, it's not always smart.

"Debt consolidation loans are appealing because it is much easier to make one payment instead of writing checks to all of your creditors every month," said Rudy Cavazos, director of corporate and media relations for Money Management International (MMI). "But it is hard to borrow your way out of debt. Before you rush out and apply for this type…

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