Bill Consolidation

Outside of your monthly expense and necessity purchases, you probably have a slew of bills that come every month for credit cards, loans, and other debt. Your interest rates might be very high, or your monthly payment might be beyond your means. One way to deal with debt, make life less complicated and save money is to consolidate your bills.

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How Bill Consolidation Works

In a bill consolidation, you can combine a number of your bills and personal debts into one payment. You can consolidate debt such as credit cards, medical bills, and certain household expenses into one payment. You can either combine the amounts into a low-interest loan, such as a cash-out or home equity mortgage or take out a shorter-term bill consolidation personal loan. If you can’t qualify for a loan, then look for alternative bill consolidation options such as a debt settlement, or a debt management program.

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Why and When to Consolidate Your Bills
  1. When Should You Consolidate Your Bills

    Bill Consolidation is a good option if you have high-interest credit cards and you can qualify for consolidation loan that lowers your rate and saves youe money. If you are struggling to pay all your bills, a cash-out refinance or home equity mortgage can consolidate debt and reduce your monthly costs.

  2. Why Consolidate Your Bills

    Bill consolidation simplifies your life.  You make one monthly payment, instead of sending out multiple payments all with different due dates. One payment is easier to manage and reduces the chances you will forget to pay and suffer a late fee.  Reducing your interest rate is another reason to consolidate your bills. If you have strong credit, see if you qualify for a low-interest bill consolidation loan that saves you money. A third reason is to reduce your monthly payment. Consolidating debt in a long-term mortgage will lower your monthly costs.

Learn Which Bill Consolidation Loan is Right For You

If you have so many bills that you cannot keep track of them, a bill consolidation loan may help you apply more money toward your principal each month. You can watch your debt decrease in large chunks rather than slowly whittle away. There are various types of bill consolidation loans. Make sure that you choose a loan that fits your financial situation and goals.

Here are two types of bill consolidation loans available:

Bill consolidation loanDo you have good credit? Consolidate your debt with a bill consolidation personal loan. Shop around for the loan that fits your budget and credit.

Cash-Out Refinance or Home Equity LoanDo you have extra equity in your home? With a cash-out refinance or home equity loan you can consolidate bills and debt into one affordable payment.

Bill Consolidation Hardship Programs

Are you struggling with bills? Juggling household expenses, medical bills, and an unexpected bill? Did you know that US households are carrying record level debt balances? Credit cards, mortgages, student loans, personal loans debt balances are close to $14 trillion!

Fortunately, there are bill consolidation alternatives for people suffering financial hardship. In a debt settlement program, you stop paying your bills and instead put money into a dedicated account to allow for a negotiated debt reduction. Another option, for those in hardship, is a Chapter 13 bankruptcy that allows for a court-ordered settlement whereby you make one payment into a designated account which is used to pay off your creditors.

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Consolidate Your Bills: Check Out the Debt Navigator Now! Debt Navigator tool helps you analyze the best bill consolidation alternatives. Getting debt help is as easy as answering a few questions, allowing a soft pull on your credit, with no impact on your credit score, and pushing a button. You will get a picture of your debt on one page as well as up to five different debt relief solutions. Choose the recommended solution that best fits your situation and helps you consolidate your bills