What Is Debt Consolidation, and Should I Consolidate?
{
Debt consolidation rolls high-interest debts, such as credit card bills, into a single, lowerinterest payment. It can reduce your total debt and reorganize it so you pay it off faster.
How does debt consolidation work? There are two primary ways to consolidate debt, both of which concentrate your debt payments into one monthly bill: Get a 0% interest, balance-transfer credit card: Transfer all your debts onto this card and pay the balance in full during the promotional period. ďƒ‘
Get a fixed-rate debt consolidation loan: Use the money from the loan to pay off your debt, then pay back the loan in installments over a set term. ďƒ‘
For more information, visit: Nextgen Mortgage, 53 Baboosic Lake Road, Merrimack, NH 03054, USA or Call us at: (978) 272-2088