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Calculate the total Unsecured Loan

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Amount Owed (Creditor 1)
Amount Owed (Creditor 5)
Amount Owed (Creditor 2)
Amount Owed (Creditor 6)
Amount Owed (Creditor 3)
Amount Owed (Creditor 7)
Amount Owed (Creditor 4)
Amount Owed (Others)


An example to calculate the total unsecured loan


If you have a credit card debt of $2000, personal loan of $3000 and medical bills worth $1000, then the total unsecured loan amounts to $6000 ($2000 + $3000 + $1000 = $6000). Now if you take a home equity loan of $2500, you can easily consolidate the entire unsecured loan of $6000 into the home equity loan to reduce the total interest on your debts.

Note:
A credit card debt, Medical bills, Departmental store cards, Personal loans, Student loans and Bounced checks are considered as unsecured loan.

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