Debt consolidating secured personal finance
Or you might be better off taking out a home equity line of credit (HELOC) or a fixed-rate home equity loan.One of the easiest ways to consolidate your credit card debts is to call your current card issuers and ask for a better deal.
There are dozens of ways to go about consolidating debt, and some include transferring the debt to a zero or low-interest credit card, taking out a debt consolidation loan, applying for a home equity loan or paying back your debt through a debt repayment consolidation plan.The rates are better when the loan is secured, and you’ve been a bank customer for years than when the loan is unsecured and given solely against your good name. Remember, don’t hesitate to ask your bank or credit union to give you a better deal if they want to keep your business.And be sure to discuss the situation with a lender before your credit report is pulled.(You can learn more about choosing a credit counselor here.) If you don’t pay your debt, creditors could hire debt collection agencies, which could lead to a lawsuit, the CFPB says.Not paying creditors will also show up as a negative transaction on your credit report that makes it harder to borrow more money.
family=PT Sans: 400,700"; @media all and (-ms-high-contrast:none) body #content-main a a:hover .navbar-inverse .navbar-inverse .navbar-toggle .icon-bar .navbar-inverse .navbar-text .navbar-inverse .navbar-text:after #login-arrow nav .dropdown.navbar-right nav .navbar .navbar-text .glyphicon .navbar-brand .navbar-brand img, .