Remove Collateral Remove Consolidate Debt Remove Creditors Remove Debt Consolidation
article thumbnail

Is It Better To Declare Bankruptcy or Debt Consolidation?

Sawin & Shea

When you are overwhelmed by debt, you may start to wonder if declaring bankruptcy or pursuing debt consolidation is the better option. Understanding the key aspects of each can help you determine what is better, bankruptcy or debt consolidation, for your situation. Equity loans put your home at risk as collateral.

article thumbnail

What is Debt Consolidation and How Does it Work?

Better Credit Blog

Debt consolidation is when you bundle several debts together into one larger sum and then make a single monthly repayment instead of multiple smaller ones. Consolidating debts with different interest rates and repayment schedules can make it easier to manage your finances. Debt Consolidation Guide.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

How Does a Debt Consolidation Program Work?

Titan Consulting

Debt consolidation might include a debt management repayment plan, credit card balance transfer, personal loan, or equity line of credit. The main strategy in any debt consolidation strategy involves replacing one debt with another debt, usually with a lower interest rate or monthly payment.

article thumbnail

Consolidating Your Debt? Here’s What NOT to Do

Debt Guru

You can consolidate all different types of debt – and the result is a simplified repayment process that involves a single payment each month. It works by getting one new loan and using that to pay off multiple existing creditors. The difference is that unsecured debts are not backed by collateral.

article thumbnail

Managing Bankruptcy and Medical Debt Relief in Broomfield, CO

Debt Free Colorado

Some options are negotiating with creditors, structured payment plans, and debt consolidation. That means the debtor is no longer legally obligated to repay these debts. To sum up the process of Chapter 7 bankruptcy : The bankruptcy trustee may liquidate non-exempt assets to repay creditors.

article thumbnail

The Best Loans for People with Bad Credit

Better Credit Blog

Check to make certain this is the case, as you could potentially be putting your home at risk to get possessed by your creditors should you default on your loan. Accepted collateral includes cars, trucks, motorcycles, boats, and RVs. Borrowers can consolidate debt by opting to send funds directly to creditors.

Loans 52
article thumbnail

The Best Loans for People with Bad Credit

Better Credit Blog

Check to make certain this is the case, as you could potentially be putting your home at risk to get possessed by your creditors should you default on your loan. Accepted collateral includes cars, trucks, motorcycles, boats, and RVs. Borrowers can consolidate debt by opting to send funds directly to creditors.

Loans 52