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Personal loans for consolidating bills

If you have multiple outstanding credit card bills, for example, a debt consolidation loan could be used to pay off those bills, leaving you with only one monthly payment.

Then see what the monthly payment would be with a consolidated loan.

Try adjusting the terms, loan types or rate until a consolidation plan fits your needs - and most importantly your budget!

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Avoid the hassle of managing multiple credit card bills every month.

Combining all debt into one loan reduces your total monthly bills into one single payment, making it easier to plan your finances.

If the current value of your home is greater than your current mortgage balance, it means you have equity in your home.

You may be able to use this equity to refinance your current mortgage and receive cash at a low interest rate to pay off your credit card debt.

It’s possible to add the costs associated with getting a new mortgage into the total refinance amount to avoid paying anything out of pocket at closing.

However, refinancing to get cash out or consolidate your debt may result in a longer loan term or a higher rate, and that might mean paying more in interest overall in the long run.

Comments Personal loans for consolidating bills