That's where debt consolidation and other financial options come in.
Consolidate Your Debt Now Debt consolidation is combining several unsecured debts — credit cards, medical bills, personal loans, payday loans, etc. Instead of having to write checks to 5–10 creditors every month, you consolidate bills into one payment, and write one check.
So, for instance: If the average comes to 6.15%, your new interest rate will be 6.25%.
There are three major types of debt consolidation: Debt Management Plans, Debt Consolidation Loans and Debt Settlement.Your financial history — including your credit score, income, job history and educational background — will dictate your new interest rate when you refinance.You typically need a credit score at least in the high 600s to qualify, and rates range from around 2% to more than 9%. And while our site doesn’t feature every company or financial product available on the market, we’re proud that the guidance we offer, the information we provide and the tools we create are objective, independent, straightforward –- and free. " There are two types of student loan consolidation: federal and private. We believe everyone should be able to make financial decisions with confidence. This may influence which products we review and write about (and where those products appear on the site), but it in no way affects our recommendations or advice, which are grounded in thousands of hours of research. We're on your side, even if it means we don't make a cent.