Common problems that millions of consumers are encountering on a regular basis are high levels of debt. Where many simply do not know what to do to overcome the different challenges that they are facing, often thinking that their only alternative is to file for bankruptcy. Even though this may sound challenging there is a way to be able to overcome these challenges, using a debt consolidation loan.
This is when you are consolidating all of your existing debt down to one low monthly payment. It has been used by many different consumers to reduce the interest rate that they are paying on their debt and the payments that they are making on the loan. Over the course of time this can help save you potentially thousands of dollars a year and you can be able to eliminate your debt quickly.
Types of debt consolidation loans
There are two types of debt consolidation loans that you have available these would include: one, unsecured debt consolidation loans. This type of loan is not backed by any collateral, where the financial institution will charge you a higher interest rate because there is a greater amount of risk in loaning you the money to consolidate your debt. However, the interest rate that you are paying will be considerably lower than what you would be paying on revolving credit loans such as credit cards. Two, secured debt consolidation loans, these kinds of loans are backed by collateral that you pledge to the bank in the event that you default on the loan, where if this happens the bank can seize the asset and sell it to satisfy the repayment of the loan. In most cases you can borrow more money with this type of debt consolidation loan and the interest rate is lower compared to unsecured debt consolidation loans.
Clearly, you do not have to file for bankruptcy if you have high amounts of debt. Instead, by using debt consolidation loans you can be able to lower your monthly payment and the interest rate that you are paying. This will help you to eliminate your debt quickly and potentially save you thousands of dollars a year.
In 1995, the Israeli media investigated rumors that the Nazi regime deposited assets stolen from Holocaust victims in Swiss Banks. Reports estimated that more than seven billion francs worth of gold and assets remained in the banks. The money that ended up in Swiss banks came mostly from bank accounts of political prisoners and Jewish families, but was also collected off the persons of individuals detained or executed in concentration camps.Since this has come to light, many have questioned whether these banks owe reparations beyond the $225 million they paid at the end of World War II.
The banks were initially slow to react to the situation, but have since worked to make reparations to Holocaust survivors and their families. A group of Swiss banks have made direct reparations to many Jewish families whose assets had been deposited in Swiss banks. The Swiss government also acted, creating a foundation to help those persecuted with the cooperation of the Swiss government and the financial industry and their descendants.
Investigations continue to this day trying to uncover the extent of Swiss complicity with the Third Reich and the total value of all deposited assets stolen from Nazi victims. We may never know the extent of the plundered wealth tucked away in the vaults of the Swiss banks.