Conslidating debt

Late payments, medical bills and personal emergencies can all add to a mounting amount of debt.

Debt consolidation is nothing more than a con because you think you're starting with a clean slate.Consolidating multiple credit accounts into one new loan with a single payment may help you lower your overall monthly expenses, increase your cash flow, and eliminate the stress of multiple monthly payments.When you're choosing the term of a loan, consider the total amount of interest and fees you’ll pay.This can feel overwhelming and complicate managing your cash flow.The interest rate on one card may be significantly higher than the others – and if the highest rate is on the card with the ,500 debt, you could be paying plenty each month just to cover the interest, let alone paying down the debt itself.

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