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High Quality Builder “Sound Construction” Puts Name to Practice

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Although there is no shortage of construction contractors, it could be said that there is a definite shortage of good quality construction contractors. This is something that quickly became apparent to Jason Dankworth as far back as high school, when he first started into the construction industry. It didn’t take him very long to realize that he was spending a lot of time listening to stories about other contractor’s shoddy work, fixing issues caused by other contractors, or hearing about contractors who would even take money and not do the work. To Jason, this was unacceptable, and it inspired him to try to make a difference. He believed that someone needed to provide customers with the service they deserved at a price rate that the average client wouldn’t struggle to pay. Jason quickly began to formulate a plan to start his own company. While working in Seattle, Washington for a general contractor, he began taking on side work as a way to gain the experience and skills necessary to go out on his own. When he had acquired all the knowledge and expertise he would need, he embraced the risk and launched his own company: “Sound Construction”. Although the company’s name reflects the business location, Puget Sound, it is also Jason’s way of calling attention to the quality of work he believes in providing: reliable, trustworthy, and stable. Starting with small projects, he began to make a name for himself as being dependable and providing top quality workmanship. It didn’t take long for word to get around, and his company began to grow. They were soon able to take on small houses, and now are able to easily tackle anything from small home projects, to full remodeling and new builds. Despite recent world events causing a strain on product supply chain and creating a high level of uncertainty in their field, Sound Construction has been able to pull through without government aid, and is now pushing forward stronger than ever. Even with this growing work load, though, the company prides themselves in the ability to provide top quality construction work for reasonable prices, a fact that causes them to stand out in a market that usually sees customers paying top dollar for good quality work, or a low price for low end work.

If you ask anyone what they’re the best at in life, they’ll doubtless start describing an activity they enjoy, and this is a huge part of Jason’s success. He doesn’t just see a project as a new job, or work to be done. Jason loves the challenge of turning homes into a new work of art, and revels in the ability to use his creativity in both the design and production processes, providing a result that customers will love. When you’re doing what you love, quality is guaranteed. This passion, paired with a solid work ethic, is what has built Sound Construction into what it is today, and will no doubt propel this company into even greater things in the near future.

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Rosario is from New York and has worked with leading companies like Microsoft as a copy-writer in the past. Now he spends his time writing for readers of BigtimeDaily.com

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Business

What Is Debt Consolidation and How Does It Work? 

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Debt consolidation combines all debts of an individual, often high-interest ones like credit card bills, into one payment system. 

Suppose you can secure a reduced interest rate. In that case, debt consolidation may be an ideal option for you, assisting you in reducing your overall debt and restructuring to help you clear it quicker.

This guide will walk you through what debt consolidation is and how it works. 

What Is Debt Consolidation?

Debt consolidation is a debt relief alternative that helps consumers bind multiple financial obligations in to one that can be regularly paid with a consolidation loan or a debt management plan (DMP).

This approach lowers the charges on debts and reduces the monthly payment. Debt consolidation sorts out the challenges faced by consumers, especially those who find it hard to service their numerous bills on time.

How Debt Consolidation Works

To consolidate debts, a borrower may request their bank or other loan providers for a balance transfer credit card, a personal loan, or a similar debt consolidation instrument. 

In the event of a debt consolidation loan, the lender may instantly clear off the borrower’s outstanding bill, or the borrower may collect the money and pay their remaining sums. 

Similarly, most balance transfer credit cards feature a recommended method for combining a cardholder’s current credit cards.

Although debt consolidation frequently reduces the amount a debtor owes monthly, it prolongs the repayment term of the merged debts. 

However, consolidating debts simplifies the payments process, making it simpler to handle finances—this is particularly beneficial for borrowers who have problems managing their money. 

Once the debtor’s old liabilities have been sorted with cash from the new loan, they’ll make just one monthly payment plan on the new loan.

Is Debt Consolidation The Same As Debt Settlement? (50 words)

While these are debt-relief options, they have a distinct difference. 

Debt consolidation transfers the borrower’s loan from multiple creditors to a single creditor but does not reduce the initial amount. 

On the other hand, debt settlement targets to lower the consumer’s debt levels. Settlement firms do not give loans; instead, they negotiate with creditors on behalf of the debtors.

Types of Debt Consolidation 

1. Debt Consolidation Loan

Debt consolidation loans are personal loans used to reduce a debtor’s interest rate, simplify payments, and generally better loan terms. 

While personal loans are often accessible in credit unions and banks, many online loan providers also provide debt consolidation services. 

However, before picking an alternative, you need to seek debt advice to give you an insight into the hidden risks. Reputable FREE debt advice platforms, such as Reform Debt Solutions, could help you. 

2. Credit Card Balance Transfer

A credit balance transfer happens when a debtor applies for another credit card, often one with lower rates, and transfers their entire balance to the new credit card. 

Similar to other debt consolidation methods, this approach leads to a single repayment to manage, may cut on the debtor’s monthly payment, and can lower the general fee of the debt by reducing the interest rate. 

Before deciding to go for a credit card balance transfer option, you should consider the accessibility of interest rates, transfer charges, transfer deadlines, and the implications of defaulting payment. 

3. Student Loan Consolidation

Student loan consolidation refers to binding different student loans into one. 

Besides reducing and streamlining monthly payments, graduates can benefit from borrower protections such as Public Service Loan Forgiveness. 

This concept is frequently used in combination with student loan consolidation, which entails consolidating multiple governments or private student loans into one personal loan.

4. Home Equity Loan

A home equity loan is a debt consolidation approach that includes obtaining a loan guaranteed by the debtor’s home value. The cash is given to the debtor in a single payment, and they can use it for clearing off or consolidating previous obligations. 

After the money is disbursed, the borrower pays interest on the whole loan. Still, since their property secures the loan, they are likely eligible for a considerably lesser interest than a debt consolidation loan.

5. Cash-out Mortgage Refinance

A cash-out mortgage refinance happens when consumers refinance their mortgage for a sum more significant than the outstanding loan balance. The borrower can then withdraw the excess in cash and clear off other debts. 

This approach then allows the borrower to combine their other loan payments with the mortgage payment to make one payment. Additionally, when the loans are folded into a guaranteed mortgage, the rate is likely to be significantly less than the rate on the initial obligations.

Pros and Cons of Debt Consolidation 

Pros

  • Combines multiple loans into one and simplifies payment 
  • Can lower the borrower’s gross interest rate
  • May reduce a borrower’s gross monthly payment 

Cons

  • Providers can charge loan origination, balance transfer, or closing fees
  • Borrowers may lose their houses if they fail to pay off the consolidation loan
  • Some come with high rates

Bottom Line

Using debt consolidation as an option for debt relief comes with many shortcomings. And indeed, it’s not the ultimate solution to the debt issue. Unlike the debt settlement approach, which reduces your loan, debt consolidation only transfers you to another lender. Besides, most of its methods tend to extend the time for settling your debts, attracting more interest rates. 

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