Debt consolidation?? Need help!?
Has anyone had success with debt consolidation? And with who?
Answer:
If your bank won't help there are reputable finance companies who will help with debt consolidation. You need to do your own research to find which would be best for your circumstances. There's a website here with a lot of useful information and links to possible lenders.
I hope you find what you're looking for. Good luck!
You can consolidate debt with large banks and lenders. You don't need to use any speciality service. Your current bank will probably offer you a loan to consolidate your debt and pay one low interest payment each month.
If you have a mortgage, you can refinance it, or add a second to pay off high-interest debt. When refinancing, you'll take cash-out to pay off those credit cards and auto loans, or whatever other debt it is, and add those balances to your housing payment, which will be at a substantially lower rate than you're currently paying.
Check with a CFP (Certified Financial Planner). Many of us work with accountants, attornies and bankers, so you get the full picture. Getting a loan with the bank may be the best option, then again it may not. They'll help you get the whole picture.
Good Luck!
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