Higer Rate Personal Loan and Debt

This one doesn't really make sense. Why would someone want to pay a higher rate to consolodate debt?

The best way to consolidate debt is getting the best terms loan for you. 

Hi

That's a pretty difficult one to answer as it is based on a number of your own personal financial factors. With a personal loan you will not be able to borrow as much money compared to a loan borrowed against your assests, such as your house. Also with a personal loan you will have to repay the loan over a shorter period of time.

The bottom line is you can get both a personal loan and secured loan for the same repayment period. However with a personal loan the repayments will be higher so that may be your main consideration compared to how fast you can repay the loan.

The Quick Loans Team

If your home was paid for, would you borrow against it to buy something you wanted, but did not need?  No, .  The best way to pay off debt is to sell stuff that you can do without(ie, an expensive car, truck, boat, etc) then buy something older and use the difference to pay off debt.  Then cut back on your lifestyle, save and pay cash or pay off more debt.  It takes you longer this way, but in the end, you will have more.

When you say consolidate debt you reduce your dent into 40-60% and lower the interest rate up tp 40%. 

Debt consolidation is a tough subject.  The best way to lower debt is to consolidate all of your debt into one monthly payment, making the lowest interest rate as your main monthly payment. 

The first step to eliminating debt is to stop borrowing money.  Once you master that, try this strategy to eliminate your existing debts.  List your debts in order of interest rates. Apply as much money as possible to paying this debt off first, while making minimum payments on other debts.  Once the highest rate debt is paid in full, add that cashflow to the next highest debt until it is gone.  Continue to do this until all debts are paid off.   Its the fastest and cheapest way to eliminate debt.