Options to consolidating credit cards

Posted by / 02-Oct-2017 18:18

Options to consolidating credit cards

You could get a home equity line of credit, a home equity loan or a second mortgage on your home, or refinance your existing mortgage.

Learn More About Consolidation Loans Bill consolidation is an option to eliminate debt by combining all your bills and paying them off with one loan.The best way to consolidate a large amount of credit card debt (anything over ,000) without taking on a new loan, is to enroll in a Debt Management Plan.Most financial experts agree that a Debt Management Plan (DMP) is the preferred method of debt consolidation.This can allow you to set aside a portion of your income each month to pay down balances for each card, one at a time.When you have paid off all the cards, choose one and be responsible with how you use it.

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Any savings could be used to start an emergency fund to help prevent a future financial crisis.

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