Step 1: Gather information about all your debts To take control of your debt it is essential to know how much debt you have.Review your statements and work out the following: Step 2: Work out how much you can put towards paying off your debt each month Next, it’s good to know where your money is going and how much you have coming in.Angela Ruth is a social media and marketing manager.She works for Due.com, a company that helps with payment processing.However, when your debt gets out of hand and you find yourself juggling multiple cards and loans, it can be exhausting. Debt consolidation could help you to combine your outstanding debts into one convenient loan potentially at a lower rate than you currently pay.If this sounds familiar, there are actions you can take to rein in your debt and pay it off sooner. Simply put, that’s one loan, one regular repayment, one interest rate and one set of loan fees.Consolidation works best when your ultimate goal is to become debt-free.This type of credit card charges no interest for a promotional period, often 12 to 18 months, and allows you to transfer all your other credit card balances over to it.
Make a budget to pay off your debt by the end of the introductory period, because any remaining balance after that time will be subject to a regular credit card interest rate.
On this page, we will briefly discuss debt management, loans and using a credit card for consolidation through a balance transfer.
Want a consolidation without qualifying for a loan because of less than a perfect credit history.
Less than perfect credit, burdensome amounts of debt, or a recent denial from acquiring a loan might help in meeting the criteria for debt consolidation relief without loans.
Programs such as debt management could be a good fit for getting your finances under control, without requiring the need of an approval for a new loan.