Today’s economy, at least here in the United State, is an unstable one. The trouble on Wall Street, the fuel shortages and price hikes, everything is directly affecting the prices we pay at checkout for the things that we buy. For those of you with debt, this is making a time of economic hardship even worse. But there’s hope yet. If you’re still paying high interest on credit cards (especially store credit cards!) or other credit lines, you could be saving tons of money both up front and in the long run by consolidating all your debt.
Bill.com’s web site is pretty thorough, offering guidelines on some smart ideas and what to avoid when attempting to consolidate all your debt at a lower interest rate. They even offer a debt consolidation quote that you can get for free.
Some of the articles on how to consolidate debt on here are pretty interesting. They talk about debt counseling, debt settlement, and other debt issues. One neat article I saw was about whether or not minors could be held liable for signing an agreement to take on debt, especially for things like medical bills. You can find information about debt management or even debt relief.
The best option for saving on interest though, is to try and refinance your mortgage, credit cards, and other debts into one big loan, and while you might have one huge monthly payment, it should end up being less than paying each of those bills individually.