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Debt consolidation loan alternatives. Because debt consolidation loans are unsecured personal loans, lenders may have stricter eligibility requirements. This could make it difficult for those with ...
A debt consolidation loan can provide a lower interest rate than most credit cards. According to Bankrate data , the average personal loan currently has an interest rate of around 12 percent.
Debt consolidation is the process of combining multiple debts into one. There are many ways to consolidate debt, including taking out a new loan, line of credit or balance transfer credit card to ...
Alternatives to traditional debt consolidation loans include balance transfer credit cards, credit counseling, home equity loans, and payment strategies like the snowball or avalanche methods ...
Using the example above, if you take out a $5,000 debt consolidation loan with a three-year term and an 11 percent fixed interest rate, you’ll pay $164 per month and $892.97 in interest over the ...
Alternatives to debt consolidation loans. After exploring your options, you may find that a debt consolidation loan isn’t an ideal solution for you.
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