| If you are in the market scouting for the ideal | | | | would be aware of what the bank charges for, |
| debt consolidation loan for yourself to combine all | | | | and try to avoid them as much as possible. Details |
| your debt accounts into one, then you should | | | | of most of these payments are written in fine |
| probably look at what Bank of America (BOA) | | | | prints, making them hard to read, though you |
| has to offer in this sense. Bank of America is | | | | would definitely know about them when the |
| undoubtedly one of the biggest names out there | | | | monthly statements reach your postal box! Some |
| when we speak of banks and financial institutions | | | | of the hidden clauses within Bank of America's |
| in the United States. With a rich history and an | | | | 'Clean Sweep' debt consolidation plan include: |
| ever-evolving set of programs deemed fit to help | | | | 1) 3% transaction fees is charged every time you |
| consumers in terms of finance and credit, BOA | | | | ask for an advance |
| has always helped consumers deal with debts | | | | 2) A credit based on the variable interest rate |
| effectively, especially those that have no fears of | | | | based on your credit is given to you, thus the |
| losing their homes and possess good cash flows. | | | | harder you push for a mortgage deal, the more |
| BOA's latest in the field of debt consolidation is | | | | you would have to pay in terms of interest! You |
| called the 'Clean Sweep'. | | | | could be charged interest rates in excess of 25% |
| Due to the fact that you are seeking for | | | | in some cases! |
| assistance from probably the biggest financial | | | | 3) Every time you ask for a cash advance, your |
| institution in the country, expect to pay quite a bit | | | | payment terms would restart from scratch again, |
| in terms of processing and other fees and | | | | thus you would have to pay processing fees as |
| charges. The plan allows you to gain approval for | | | | well as other relevant fees again every time you |
| the loan without the need for collaterals, and | | | | request for a cash advance from BOA. |
| there is no annual fee involved as well. Usually you | | | | Although it was advertised that you could obtain |
| can get a verdict from the bank almost | | | | interest rates as low as 9.49% with variable APR |
| immediately when you get in touch with them for | | | | when you apply for the 'Clean Sweep' plan, now |
| approval on your debt consolidation efforts. There | | | | you know that your interest rates would depend |
| is also no prepayment penalty involved, making it | | | | on your credit amount, and that could go much |
| a fairly attractive deal for those seeking debt | | | | higher than 9.49% (as this figure is the minimum). |
| consolidation loans. | | | | Thus do take all these facts into account before |
| Now let us get to where the bank makes money | | | | you consider BOA as your debt consolidation |
| out of you. As long as you stay cautious, you | | | | solution! |