You can consolidate using a personal loan or a balance transfer credit card.If you consolidate student loans, you have other options.Getting a consolidation loan can do more than pay off debt.It is possible to create a sizable nest egg by investing all or a portion of the monthly payment savings. Use this loan consolidation calculator to see the results of paying off debt and investing the payment savings."The theory of turning higher debt rates (credit cards) into lower ones (mortgage) is a great idea," says White in an e-mail, "but it usually doesn't work because many of the people who end up in this situation have a habit of spending without conscious decision making." Gayle and Jim Mc Weeney are determined to break that habit.They refinanced their New Jersey home in July, rolling ,000 of credit card and car loan debt into their 30-year fixed-rate loan."I would only suggest this as a last-gasp strategy," says Susan Reynolds, author of "One-Income Household." "In general, rolling credit card debt into mortgage loans is not a good idea. If you renege, they can pester you for payment and ding your credit report, but they cannot confiscate your home." Todd Huettner, president of Huettner Capital, a mortgage brokerage specializing in debt consolidation, advises homeowners to answer three questions before rolling debt into a home loan: After working with nearly 5,000 families, Susan White of Plan Plus Inc.
consolidation - the act of combining into an integral whole; "a consolidation of two corporations"; "after their consolidation the two bills were passed unanimously"; "the defendants asked for a consolidation of the actions against them"To this catalogue of circumstances that tend to the amelioration of popular systems of civil government, I shall venture, however novel it may appear to some, to add one more, on a principle which has been made the foundation of an objection to the new Constitution; I mean the ENLARGEMENT of the ORBIT within which such systems are to revolve, either in respect to the dimensions of a single State or to the They ought, with equal care, to have preserved the FEDERAL form, which regards the Union as a CONFEDERACY of sovereign states; instead of which, they have framed a NATIONAL government, which regards the Union as a He had them in the greatest order--his tapes and his files, his receipts, and his letters with lawyers and correspondents; the documents relative to the wine project (which failed from a most unaccountable accident, after commencing with the most splendid prospects), the coal project (which only a want of capital prevented from becoming the most successful scheme ever put before the public), the patent saw-mills and sawdust would not achieve its main purpose: "What's more, these potential transactions represent a near-term fix to the industry's difficulties and do not address systemic profitability problems and root causes.
We cannot and do not guarantee their applicability or accuracy in regard to your individual circumstances.
All examples are hypothetical and are for illustrative purposes.
These are not quick fixes, but rather long-term financial strategies to help you get out of debt.
When done correctly, debt consolidation can: There are several ways to consolidate debt, depending on how much you owe.