With credit card statements arriving from Christmas, you might be wondering what to do about mounting debt. Payments look too high? You certainly aren’t alone. While this can be a difficult time of year, it’s also a time when you can take steps to consolidate your debt and lower your monthly payments.
Don’t know much about debt consolidation? In this video, highly experienced attorney Chris Cabanillas explains how you can benefit from debt consolidation, and how to get started.
Debt consolidation typically involves taking out a loan on a lower interest rate to pay off existing loans with higher interest, which reduces your monthly payments overall.
Debt consolidation is likely to be a good option for you if you:
Have multiple outstanding loans or debts.
Are in danger of falling behind on bills
Have overdue payments on bills or student loans.
Used a credit card to pay your taxes.
Are facing job loss or wage garnishment.