How can someone get completely out of debt? How can someone raise there credit scores. I would just like to start fresh without any credit cards or loans at all.
Thank you for visiting Bills.com. Here is an answer to your debt question.
There are many forms of debt relief, including: i) debt consolidation loans, ii) credit counseling, iii) debt negotiation, and iv) bankruptcy.
In your case, the only solution that will not impair your credit profile is a debt consolidation loan.
Debt 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 to consider 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.
Bills.com makes it easy for you to apply for Mortgage Refinance.
I hope the information provided helps you Find. Learn. Save.