Consolidating debt without hurting credit

15 Aug

You could get a home equity line of credit, a home equity loan or a second mortgage on your home, or refinance your existing mortgage.

Other options include borrowing against a whole life insurance policy and borrowing against you retirement savings.

Most of the consolidation companies provide a free counseling.

Before registering with any company check whether or not the company is accredited by the Better Business Bureau.

Learn More About Consolidation Loans Bill consolidation is an option to eliminate debt by combining all your bills and paying them off with one loan.Make a copy of your monthly income and expenditure,and attach it to the letter. In debt consolidation the interest rates gets lowered.Thus, you can check out debt consolidation companies in your area.This helps eliminate mistakes that result in penalties like incorrect amount or late payments.There are three major types of debt consolidation: Debt Management Plans, Debt Consolidation Loans and Debt Settlement.