Consolidating credit counseling services dating online net com

Depending on how much money you owe and what your overall financial picture looks like, it may make sense to ask a friend of family member to lend you the money.

But if you opt for this method, it’s important to be sure the loan terms and repayment plan are clearly outlined, just as they would be if you were getting a loan from a financial institution.

Balance transfer credit cards often offer an introductory 0% APR on balances you transfer within a certain amount of time.

Pros: If you pay off the balances you transfer before the introductory period expires, you could avoid paying interest charges on the transferred balance altogether. If you don’t pay off the amount you transfer (in full and on time) before the intro period ends, the remaining balance will accrue interest at the card’s regular rate.

Some lenders offer cash-out refinance auto loans that allow you to use the equity in your car to issue you a loan for other expenses, like consolidating credit card debt.

But if you’re unable to make your payments, you risk losing your vehicle.

Also, the amount you transfer — including any fees charged — can’t be higher than your credit limit, which may not be high enough for you to pay off all your debt.

Credit counseling organizations can review your entire financial situation and work with you to create a plan to tackle your financial challenges.

They give advice about credit issues, budgeting, money management and debt management.

But if you default on payments, the lender typically has the right to start foreclosure proceedings, and you could lose your home.

If you participate in an employer-sponsored retirement account such as a 401(k) or 403(b), it may be tempting to use some of those funds to pay off your debts.

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