Advise from trinity consolidating
Nearly everyone losing the battle with debt has this conversation with themselves every month. It gives you a reachable goal to meet every month and eventually lets you breathe again financially.
Lenders look closely at your credit score when determining the interest rate they charge for a debt consolidation loan.
There are alternative loan possibilities such as home equity loans or personal loans, but neither helps if you can’t improve the interest rate you’re paying or the repayment period is so long it doesn’t make sense.
Learn More About Debt Consolidation Loansnonprofit debt consolidation through a debt management program, which doesn’t require the consumer to take out a loan.
If you are falling behind paying off your credit card debt, it’s very likely your credit score is tumbling, too.
If the interest rate you get for a debt consolidation loan is not lower than the average interest rate you already were paying on your credit cards (see above), then a debt consolidation loan does you no good.