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Consolidating Your Debt? Here’s What NOT to Do

Debt Guru

Remember that there is unsecured debt (like your credit card balances) and secured debt (such as your mortgage and auto loan). The difference is that unsecured debts are not backed by collateral. You might be tempted to use your substantial home equity to consolidate debt. The post Consolidating Your Debt?

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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.

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Managing Bankruptcy and Medical Debt Relief in Broomfield, CO

Debt Free Colorado

They can also help with potential debt management plans. Home Equity Line of Credit (HELOC) can consolidate debt. Caution is necessary as it involves using your home as collateral. Hiring a medical billing advocate can uncover errors, reducing the total amount owed.