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Consider A Program To Consolidate Your Debt
In the present climate of easy credit it is easy to get in over your head with credit card debt. Many people do not realize how many Americans are living payday to payday getting deeper and deeper into the drowning pool of high interest revolving...

Consolidating Debt? 5 Warning Signs Of A Shady Debt Consolidation Or Debt Management Company
Unfortunately, not all debt consolidation companies are legitimate. To avoid the shady companies, educate yourself on the debt consolidation process and watch out for these warning signs. Quote Unusually Low Monthly Payments A debt...

Consolidating Your Credit Card Debt
Copyright 2005 MHG Consulting Credit cards have revolutionized the purchasing experience since Diners Club released the first credit card in the year 1950. The Dinners Club credit card gave consumers limited credit that, at times, even surpassed...

Debt Consolidation Discipline is Required if Consolidating with Home Equity
Debt consolidation is a popular topic these days. The average American carries nearly $10,000 in credit card debt and credit card debt of $100,000 is not all that unusual. New legislation that takes effect in October 2005 is going to make it harder...

Great information on debt consolidation home loans
If you are facing the frightening perspective of getting buried in debts, credits or mortgages, you should know there is a way of easing your life. And this way is called debt consolidation home loan. What is exactly a debt consolidation...

 
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Low Interest Debt Consolidation Loans - Getting A Low Rate

Low interest debt consolidation loans can help you pay off your debt sooner. For the lowest rates use your home equity to secure a loan. You can also find personal loans that will reduce your interest payments. Otherwise, transfer your credit balance to a new credit card account that offers 0% interest on transfers.

Home Equity Loans

Home equity loans offer low interest rates because they are secured with your property, reducing the chances of you defaulting. You can opt to cash out your equity by refinancing or applying for a second mortgage or line of credit.

Refinancing can cost thousands in upfront fees, buy they can offer you overall lower payments. Second mortgages and lines of credit usually cost zero to a couple of hundred of dollars to open, but their rates are higher than a traditional mortgage.

Personal Loans

Personal loans offered through banks and other financial lenders can also help you consolidate debt. These types of loans are based on your credit score and cash assets. Since these are unsecured loans, rates are higher. However, when compared to credit card rates, they are significantly lower.

Credit Card Transfers

You can also open a credit


card to take advantage of 0% or low interest rates on transfer balances. These types of offers are introductory, so expect rates to jump in six to twelve months. In the meantime, you can start paying down debt while rates are low. At the end of the introductory period, you can open another account or look for a long term loan with low rates.

While transfers are attractive, they do carry risks. You should read the terms to be aware of any fees charged for transfers. Also, guard against racking up more debt by closing old accounts. This will also help your credit score in the long term.

Shopping Loan Rates

No matter what type of loan you choose to use to consolidate your debt, be sure to research rates. By comparing offers, you can save thousands in interest charges. Most lenders post their rates online for easy access. Be sure to read their terms as well to make sure you don't get caught on fees.

About the author:

Carrie Reeder is the owner of www.abcloanguide.com, an informational website about various types of loans. View her recommended Online Debt Consolidation companies.