Consolidation service credit card consolidating debt
Credit cards and unsecured personal loans usually have higher interest rates than other forms of secured debt like a mortgage, home equity line of credit (HELOC) or auto loan.
If you find your rate on a home equity line of credit is less than the rates on credit cards, other personal loans or auto loans, borrowing through that line of credit may save you money.
Many factors can help you get a better interest rate with a bank or credit union including your credit score, your net worth, whether or not you have a relationship with them and whether or not you can offer good security (collateral) for a loan.
Debt consolidation is debt management, not debt elimination Moving all your outstanding loan balances to one lender will not reduce the amount you owe.Debt consolidation (also known as bill consolidation) does not require a loan.Working with a debt consolidation company means that a representative will contact your creditors and negotiate on your behalf to find a way for you to pay back your debts, possibly with reduced interest rates and no late fees.Besides, wouldn't you rather have one monthly bill with a lower interest rate and payment?Finding a debt consolidation loan for bad credit that offers low fixed rates and flexible payment options is possible with P2P Credit bad credit debt consolidation loans.