Consolidate Debt Loans and Credit Cards

It can happen to anyone, your credit card bills start to mount up, with increasing interest rates, until it seems like they are taking over. It’s time to take control of your credit and pay down those balances or better yet, pay them off entirely.

But how to consolidate your debt?

First, get a handle on your FICO credit score.

After you sign up for a credit monitoring service and check out your FICO credit score and you’ll be surprised how easy it is to get your FICO credit score back under control. All those balances on each credit card wreak havoc on your FICO credit score.
 
JD Rockefeller said “That which is monitored improves”. Improving your FICO credit score can lead to big savings and more purchasing power, so you definitely want to monitor your FICO score. A higher credit score typically means lower interest rates which will reduce your monthly payments – and that could mean saving thousands of dollars over the life of a loan. I recommend Equifax for credit monitoring. They are one of the main three credit bureaus that banks and credit card companies use when they check your credit and are a company you can trust. It’s only $9.95 a month and it is definitely a good investment.

Next, figure out how to consolidate debt.

Consolidating debt means that you are going to combine those credit card balances into a lower cost loan, or in other words consolidate them into one loan. By consolidating debt into one loan you will get a much lower interest rate than you are currently paying on all those credit cards.

Best Mortgage Rates

If you are a homeowner, your lowest mortgage rates will come from a home equity loan. Plus there’s a very good chance that if you consolidate your debt with a home mortgage the interest will be tax deductible. One of the most highly respected nationwide home mortgage lending companies is Lending Tree and they are highly recommend. You’ll only need to fill out one application and then their portfolio of lenders will start to compete for your business. With service like this, it’s no wonder they are a leading provider of debt consolidation loans. You are likely to get the best mortgage rates from them and it's so easy. Just fill out one form and get up to four offers from lenders!

Nationwide Home Mortgage Company - Citibank

Citibank is a good option too. They are also a leading mortgage lender and you might consider them for a debt consolidation loan. They offer competitive rates and if you feel more comfortable going direct to the bank then this may be the best option for you.

If on the other hand, you want a lot of lenders to compete for your debt consolidation loan, then Lending Tree is the way to go.

Whether you choose to go with Citibank or Lending Tree, either one is a good choice to consolidate debt, lower your monthly payments, and get your credit back on track!

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