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I'm having a hard time consolidating my debts, and ...

I'm having a hard time consolidating my debts, and I badly needed to settle my loans as soon as possible. What shall I do?


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185 helpful answers

How to Consolidate Your Debt and Save Thousands


Millions of American are suffering from DEBT OVERLOAD! Especially in today's economy where the majority of Americans are charging their gas and other expenses to save their cash for groceries. With prices at their highest in decades many Americans have high credit card balances with high interest rates. Consolidating your debt is one way to save thousands in interest and fees.
Home Equity Loan is one of the best ways to consolidate your debt. If you own a home with a good amount of equity you can take out a loan against that equity. Pay off all of those high interest rate credit cards and make one monthly payment with one interest rate as opposed to many with many interest rates.


  • Step 2
    Consolidate your debt onto one low interest credit card. That's right use a credit card to pay off your credit cards. You will have one monthly credit card payment on one credit card instead of many on many credit cards.

  • Step 3
    Think about it... if you have 5 credit cards, all with a 10% interest rate, your paying that interest to 5 different credit cards. By consolidating your debt with either a home equity loan or a credit card you will only be paying one interest rate. Saving you thousands of dollars per year in interest alone.

  • Tips & Warnings

    • The key to a successful debt consolidation is to not fall into the debt trap again. You must destroy those credit cards that you consolidated in order for you to be successful. If not you will charge them up again and be in the same DEPT OVERLOAD situation. GOOD LUCK TO YOU!!!

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898 helpful answers

Don't sweat the petty things and don't pet the sweaty things.

This web site has a calculator that you can use to estimate your monthly payments, principal, and interest if you decide to consolidate your loans.

 

 
Debt Guy
(deleted account)

There are many online services that offer a free debt consultation with a professional credit counselor, why not start there?

Posted 2009-09-18T20:16:15Z
Debt Guy was invited by Yedda to answer this question.

 
1 helpful answer

If you are stuck in credit card debt, there are two ways to consolidate. One is to obtain a debt consolidation loan and the other is to get a zero-interest balance transfer credit card. Here's how how these two strategies can help you manage credit card debt more efficiently .

Posted 2009-10-28T16:56:26Z
Cherish7 was invited by Yedda to answer this question.

 
49 helpful answers

Same Day Payday Loans & Cash Advance for your instant financial requirements

Hi there,

You should try for debt consolidating loans. Or you can go to IVA(Individual voluntary Agreement) They are very useful in this situation.

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