Once you know your total loan balance and your total monthly payments use our debt consolidation calculator to determine if consolidating credit card debt can save you money.
This will help you find the best method for your credit card consolidation.
Dear Debt Adviser, I have about ,000 of debt on credit cards.
As with any mortgage, if the loan is not paid off, the home could be sold to satisfy the remaining debt.
If you are drowning in credit card debt, you may be able to save money and pay your debt off more quickly if you choose to consolidate credit cards.
By evaluating your situation as well as your options, you can determine whether this makes sense for you.
The amount of the loan, as well as the rate of interest charged, will of course also depend on the borrower’s credit score and payment history.
What does using home equity to consolidate your debts mean?