what does "consolidate your debt" mean? and how do you do it?

Answer 1

Consolidating your debt means, instead of paying 10 creditors, you take out a consolidation loan and pay just one creditor. Usually you will wind up with a lower interest rate and the amount paid monthy would be much less. A bank loan or credit union or such is the best; Household Finance and others tend to charge a much higher rate.

Answer 2

What Does Debt Consolidation Mean

Answer 3

Most of us owe money in various places and at various rates. A mortgage, car loan, credit cards, etc. You consolidate your debt by taking out one new loan to pay off all the others, then just making one payment each month. Sometimes it makes sense. If you can get an 8% loan on your house to pay off credit cards at 24% interest, it can save you a lot of money.

Answer 4

You turn several bills into one. This is done by taking out a loan which is used to pay off the existing debts. Usually your new interest rate is lower because you are eliminating high rate credit cards.

There are companies that specialize in this type of service. One common do it yourself method is to take out a home equity loan, and use the proceeds to pay off your other bills.

Answer 5

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City government and county government are the same thing. So where ever you are at in muscogee county you are in Columbus. Regardless if you are in Midland, fortsom, etc...if you are in the county you are in Columbus. City police have power to go everywhere, well atleast in Muscogee, county schools should really be considered the city's schools.

Answer 6

It means that if you have four credit cards with $2000.00 a piece on them and intrest rate of 21% they will pay all of your **** off and you owe them $8000.00 at a intrest rate of 17%. Roughly.

Answer 7

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