All About Consolidating Bills – From Ask Bill - The Bills.com Blog

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All About Consolidating Bills – From Ask Bill

Question: 1. What are the advantages of consolidating bills?
2. How does this affect my credit?
3. Can I still use credit cards?

Answer: Thank you for visiting Bills.com. Here is an answer to your question.

Bill consolidation can benefit you in many ways: i) monthly cash flow, ii) total savings, iii) interest deductibility, and iv) your credit rating.

However, all forms of debt consolidation are not the same. You need toconsider your specific situation, including if you own or rent your home, your monthly debt to income ratio, and your credit rating. A program like a debt consolidation loan may lower your monthly payment, get you a lower rate than most credit cards, and the

interest is tax deductible. Alternatively, a program like negotiated debt settlement may lower your monthly payment, get you debt free fast, save half of what you owe, but it could negatively impact your credit rating.

These are a few of the considerations.

If you would like more information, please visit our debt consolidation resource page

I hope this information helps you Find. Learn. Save.

Best,
Bill
www.bills.com

Also, make sure to get a free financial health check-up with Bills IQ!

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Bill has answered all sorts of questions and has been able to provide those in need of financial guidance with helpful and valuable advice and information on their specific financial area of interest. If you need specific guidance on any of the above mentioned financial areas, feel free to Ask Bill your financial questions and get better informed. Also, make sure to get a free financial health check-up with Bills IQ!

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