Best for: those seeking support with unsecured debt like credit cards and personal loans. Debt management plans (DMPs), not to be confused with a debt settlement program, help you pay down your debt by working with your creditors for you. Offered by nonprofit credit counseling firms, DMPs are...
Need Professional Help to Consolidate Debt? Are you feeling overwhelmed by your unsecured debt? Woulddebt consolidation reliefmake your life easier? American Consumer Credit Counseling (ACCC) can help you simplify your obligations and plot a path to become debt free and financially secure. As one ...
Financial Counseling Association of America: FCAA is a nonprofit with member agencies that assist consumers annually. It offers financial counseling services and debt management plans for the repayment of unsecured debts. The Federal Trade Commission’s How To Get Out of Debt: This FTC page teaches...
you’re not borrowing more money. Instead, your unsecured debt payments are consolidated into one monthly payment to the agency, which in turn pays your creditors each month. Your credit counselor works with your creditors to try to reduce your interest rates and eliminate extra fees, like late...
Although balance transfer and personal loans are generally unsecured debt solutions, some credit card consolidation programs use assets. Do you own a home? If so, do you have sufficient equity? You need to know the current value and the amount of mortgage debt. Other assets to check are savin...
balance transfer credit cards to personal loans, there are a number of credit card debt consolidation options. However, debt consolidation isn’t an option for everyone, and it may not be the best option for you. Be sure to do your research before committi...
Personal loansare the fastest-growing type of unsecured debt. Since these loans aren't backed by collateral, the rate you’ll pay (and whether you’ll get approved at all) will depend in large part on your credit score. They’re an excellent option for consolidating multiple loans, particula...
0% balance transfer card:This type of credit card is useful for paying off credit card debt. With this card you can move your debts from different credit cards onto one card and pay it off interest free. Are you looking for another type of loan?
Debt consolidation isn’t for everyone, but it certainly helps many people who qualify. A great candidate for a debt consolidation program would be one with multiple debts ranging from credit cards, personal loans, medical bills, collection accounts and other unsecured debts. Another factor to cons...
Debt consolidation loans often have lower interest rates than credit cards, which could save you a lot of money if much of your existing debt is on one or more cards. In addition, unlike credit cards these loans have fixed monthly payments for a set term, so you'll know exactly how much...