6 Ways to Consolidate Your Debt

6 Ways to Consolidate Your Debt

6 Ways to Consolidate Your Debt

6 Ways to Consolidate Your Debt

Debt consolidation loans are a great way to combine your debt into one monthly payment, with less interest than you were paying on each credit card. 

It is a fix that will not only help you pay off your debt but save money in interest as well. 

It is a fix that will not only help you pay off your debt but save money in interest as well. 

What Are Debt Consolidation Loans?

This option is available for you to save money on interest, pay less monthly, and pay off your debt in as few payments per month as possible. 

What Kinds Of Debt Consolidation Loans Are Available?

Some of the available options you can look into: -Refinance or Home Equity Line of Credit (HELOC) -Balance Transfers -Personal Loan

How Can A Refinance Or HELOC Help You?

If you are a homeowner and your mortgage is in good standing, you can use the equity you have in your home to cover a debt consolidation loan.  

What Is A Refinance?

Generally, you need to own the house for at least two years before you can refinance because you have to make the payments and build equity over time. 

What Is A HELOC?

A home equity line of credit (HELOC) is a line of credit from the equity you have on your home. 

Another Important Factor To Remember For Both Refis and HELOCS Is

that you are putting your house on the line for this debt consolidation loan.

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