Debt Consolidation

Debt consolidation may refer to taking out a single loan to pay off multiple debts. Typically debt consolidation loans will have lower interest rates then the sources of debts. These types of loans typically provide an easier way to manage debt and may include cost savings depending on the interest rates. As always you should consult a certified financial professional before making any financial decisions.

Having trouble managing debt? If you’re having trouble managing your debt then it may make sense to choose a debt consolidation loan. A debt consolidation loan may require collateral, depending on credit worthiness as well as the amount of the loan. Debt consolidation may make it easier to manage your debt. You should contact a financial professional before making any decisions.

Credit Counseling? What is it? Credit counseling refers to the process of enlisting a credit counseling agency to assist with managing your debt. Typically this will entail a lengthy education session on how to manage debt, including the concepts of a debt management plan, or DMP. Always do your homework if you’re decide to pursue this route. Make sure to find an approved credit counseling agency in your area. This can be done by visiting the DOJ website here.