Debt Consolidation Loans Explained

Debt consolidation loans are a great way to combine your debt into one monthly payment, with less interest than you were paying on each credit card. 

What Are Debt Consolidation Loans?

Debt Consolidation loans allow you to put most or all (depending on what funding or lines of credit you have available) of your debt onto one line of credit, or loan, to reduce interest and monthly payments.

What Kinds Of Debt Consolidation Loans Are Available?

-Refinance or Home Equity Line of Credit (HELOC) -Balance Transfers -Personal Loan

How Can A Refinance Or HELOC Help You?

If you are a homeowner and your mortgage is in good standing, you can use the equity you have in your home to cover a debt consolidation loan. Don’t worry if your credit is in bad shape because you have too much on your credit lines.

What Is A Refinance?

Completing a refinance on your mortgage means you are taking out a new loan through a mortgage company and applying it to the old one to pay it off, plus whatever you are using the new funds for.

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