When you are stuck with sky-high debt problems, a last resort can be debt consolidation. This is a process of clubbing all outstanding debts under one roof to pay for a single debt every month at a fixed rate of interest. This may sound appealing, but not everyone can actually qualify for a debt consolidation loan—especially people who have mismanaged debts and need to borrow a big amount of money to compensate for their current loans.
In this case you may need to apply for a secured debt consolidation loan. This type of loan is done at the cost of a valuable property or collateral. Collateral usually comes in the form of cars or houses, depending upon the amount of money you are going to borrow or the company that offers the loan, since different companies have different rules for debt consolidation loans. The higher the value of the collateral, the higher the amount the lender is likely to let you borrow.
Applying for a debt consolidation loan may mean you have a poor credit history. If this is the case, you will need collateral to bet for a loan you have to make. In most cases you pledge collateral when you borrow a relatively big amount of money. Lenders want the assurance that in case you fall short of paying your loan, they have something they may sell to satisfy the debt by retrieving the amount originally lent to the borrower. If you are more secured with pledging other forms of collateral other than your car or house, you might have to dig deeper to find one that will allow you to have your jewelry or other properties with which to secure your loan.
When you decide to apply for a secured debt consolidation loan, you should first determine how much you need to borrow to pay all your existing debts. If done this way, you will be able to determine with what property you can secure it or what you are willing to risk. Once you put your house up as collateral, you are actually giving the company the authorization to possess your house if you are not able to pay monthly payments. If your car will do instead of your house, settle with it. You have to decide carefully before betting against an important property. If you are positive you can pay the monthly payments religiously and the house is safe, then you can proceed with doing so.
While it’s possible to consolidate a number of unsecured loans into another unsecured loan, consolidating debt often involves a secured loan against an asset that serves as your collateral. The collateralization of the loan allocates a lower interest rate than without it, because by collateralizing the debtor consents to the forced sale or foreclosure of the asset to be able to pay back his loan. The risk to the debtor will be a notch higher so the interest rate offered is lower.
Regardless of your credit history, you can apply for a secured debt consolidation loan. The amount will depend upon the value of the collateral and the payment plan that will suit your budget. Remember, however, that it is unwise for you to risk a sturdy, long-term investment just to get away with a momentary shortfall.
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The Chinese have built up a list of therapeutic herbs over thousands of year and each will be chosen for their effect on particular organs. So a ‘cold’ herb may be used if there is an excess of heat in the body. Unlike homoeopathy, where only one remedy is given, a mixture of herbs will be prepared.
Heating the pressure points, known as moxibustion, may also be used. Small amounts of the herb moxa is burnt in a cone and either held over a pressure point or stuck on a needle to help stimulate the point. Diet, lifestyle and exercise will also be looked at and may be included in treatment.
Acupuncture is also commonly used in TCM as well as Chinese herbs. If acupuncture is used, needles will be inserted on some of the 365 main pressure points along the meridians during treatment which will help to free the flow of vital energy.
What to expect from a first visit
The practitioner of Chinese medicine will want to build up a detailed picture of your child before making a diagnosis. Questions about their general health, lifestyle, habits, personality, likes and dislikes, how they fit into the family, sleep routines, bowel habits, emotions and so on will be asked. Your child’s tongue will be examined as the Chinese beheve the condition of the tongue – its texture, coating, colour and shape – are all significant. Your child’s pulse will also be taken – the practitioner will feel for six on each wrist, which correspond to different organs, although in younger children, the pulse will only be in one place on each wrist, or on the neck and ankles. Only then will the practitioner decide which type of treatment will best suit your child.
