Are There Alternatives To Debt Consolidation?
June 5th, 2010
If you are still nervous about the whole idea behind Debt Consolidation programs, there are alternatives that you can look into. First, if you are in good standing with your creditors, you can often negotiate lower interest rates or lower monthly payments with a simple phone call. You can also apply for a large loan through your bank or credit union. With this loan you can pay off all of your creditors at once, and then in turn you will only have to make one payment a month. A final alternative is bankruptcy, but this will affect your credit for seven years and should only be used in worst-case scenarios.
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