• boost my credit

Earn Rewards

  • Join our community
  • Refer our club
  • View our programs

15 • Is a Debt Consolidation loan
a good option to fix my debt?

debt cost options

If you have a good credit rating that may be a solution that merely reduces the payments into a single lower payment. However, you must consider in the big picture that if you have to create a debt to pay a debt it may make the payments easier to live with but this is not going to help much to get out of debt. Our experience has taught us that most financial institutions today will not give consolidation loans unless you have security of an asset to hold as collateral, like a home, other valuable assets, or heaven forbid a co-signer with asset. Then if you were not able to make the payments the creditor could take away your home, your assets, or go after your co-signer and their assets. In this poor solution you could lose the few precious things that you do have.

When you Overcome Your Debt, You can be Financially Free!