Consolidating debts pros cons


This company keeps its service fees low so that savings from your consolidation go to you rather than to paying fees.

We believe everyone should be able to make financial decisions with confidence. This may influence which products we review and write about (and where those products appear on the site), but it in no way affects our recommendations or advice, which are grounded in thousands of hours of research. We're on your side, even if it means we don't make a cent.Ideally, that new debt has a lower interest rate than your existing debt, making payments more manageable or the payoff period shorter.Options to consolidate your credit card and other debts include a balance transfer credit card, an unsecured personal loan, a home equity loan or line of credit and a 401(k) loan.The company website provides a glossary, which defines common jargon in the debt consolidation industry.You can also read the FAQs page to get a more solid idea of the debt consolidation process, risks involved and its effects of your credit score.This service also reveals the imperative legal information about the process, including average debt reduction, fees incurred during the program and your consumer rights.

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