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4 Common Debt Consolidation Mistakes and How to Avoid Them

Nerd Wallet

If you’ve amassed multiple forms of debt, like credit cards, medical bills or personal loans, you might be considering consolidating. Debt consolidation is when you combine your debts into one payment, usually with a consolidation loan. Jackie Veling writes for NerdWallet.

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Can You Get a HELOC on an Investment Property?

Nerd Wallet

If you’ve built enough equity in your investment property, you may have considered getting a home equity line of credit, or HELOC, to make improvements, consolidate debt or even buy a new property. You can get a HELOC on an investment property and tap into its equity, but there are strict qualification requirements, they aren’t.

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Debt Consolidation vs Bankruptcy: Which is Better?

Sawin & Shea

Understanding Debt Consolidation Debt consolidation is the process of taking out a brand-new loan and using the money to pay off other loans or debts. Pros & Cons of Debt Consolidation Debt consolidation can be great if you qualify for a loan with a low enough interest rate.

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Personal Loans Statistics

Credit Corp

to consolidate debt, $5,448.03 Personal loan categories were Start a business, Cover medical expenses, Legal fees, Fund a renovation , Pay for a vacation, Fund a move, Help a family member, Pay for a funeral, Consolidate debt, Pay for gifts, Pay for a wedding, Bail money, and Other. This was followed by $6,029.62

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Jun 23, The 12 Best Balance Transfer Credit Card Offers of 2016: Longest Terms

Debt Collection Answers

Have you thought about using a balance transfer to pay a debt collector or to consolidate debt with high interest rates? This article, which quotes the co-author of the free Debt Collection Answers ebook Gerri Detweiler, provides essential advice. That strategy can work but you have to be very careful.

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Credit card debt in the U.S. hits all-time high of $930 billion—here’s how to tackle yours with a balance transfer

Collection Industry News

Before completing a balance transfer, make sure you have a repayment plan in place so you pay off debt prior to the intro 0% APR period ending. Consolidate debt with a personal loan If you have a large amount of debt, consolidating it with a personal loan can be a good alternative to balance transfers that may not cover your total balance.

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Managing Bankruptcy and Medical Debt Relief in Broomfield, CO

Debt Free Colorado

Home Equity Line of Credit (HELOC) can consolidate debt. Hiring a medical billing advocate can uncover errors, reducing the total amount owed. Government assistance programs may help cover medical expenses, especially during significant financial changes. Caution is necessary as it involves using your home as collateral.