subject: Debt Consolidation Help - Where Can You Find What You Need? [print this page] If you are reading this article, then it is safe to assume that you want to get out of debt, but are lost on how to actually accomplish your goals. Hopefully this article will be able to help you decide which option is best for you to get out of debt. Here are 3 top debt consolidation help options that will get you closer to your goals.
The first option is for homeowners only so if you don't own a home you can skip right onto option two. If you own a home, then the best way to to pay off your debts is to refinance your mortgage and pay them off. You will get a lower rate and will be able to spread your debts over time as you pay them off. Do not take out a 125% mortgage though because it will take you the rest of your life to gain equity in your home again.
The second option is for those that have pretty good credit, so if you have bad credit move onto option three. There are two ways to consolidate your debts if you have good credit, but don't own a home. You can qualify for a debt consolidation loan through a bank or you can qualify for a very low interest rate credit card with a high limit. The rate needs to be 7% or lower on the card and 12% or lower on the loan. You can use either one to consolidate your debts and it will help build your credit as well.
The last option is for anybody and especially for those with poor credit. Contact a not for profit credit counseling company in your area and let them negotiate with your creditors. They will be able to get you set up on a monthly payment plan that will pay on all your debts every month. They will also require credit counseling which will teach you how to stay out of debt and manage your finances. This is a great option and most of these companies are very good at what they do.
Now you have three options for debt consolidation help and the hope is that you are able to make a smart decision and start on the path towards your goals. Good luck and hopefully you will be debt free withing a few years.
Debt Consolidation Help - Where Can You Find What You Need?
