Reduce Debt Stress this New Years: Consolidation Loans Explained Story

Debt stress is a hard thing to overcome so we hope this post might help you come up with a consolidation plan that’s right for you.

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.

What Are Debt Consolidation Loans?

Debt Consolidation loans allow you to put most or all (depending on what funding or lines of credit you have available) of your debt onto one line of credit, or loan, to reduce interest and monthly payments.

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

What Kinds Of Debt Consolidation Loans Are Available?

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.

Completing a refinance on your mortgage means you are taking out a new loan through a mortgage company and applying it to the old one to pay it off, plus whatever you are using the new funds for.

What Is A Refinance?

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