Finance home re finance loan debt consolidating bishop noel jones dating lisa
That statistic alone is one of the many reasons why refinancing to consolidate debt is an attractive debt management option.
It makes debt payments more affordable, and often times, it can help with building your credit.
One big mistake people make when paying off credit card debt is splitting payments between multiple cards.
But did you know, your credit is negatively affected any time you carry a high balance on any one card?
People have to take personal responsibility for the debt incurred and take steps to improve their overall financial health.
Doing so will, in turn, help with building your credit.
If you have multiple maxed out credit cards, or even just one, this is not the best choice.
If you decide that consolidating debt is the right choice for you, here are some things you can do to get started.
By paying off cards and then closing the accounts, you actually just end up with zero percent of credit available again.
Instead, as you pay off cards, keep the accounts open to free up some of your credit available.
It can take a lot of self-discipline to make it work.
Ask yourself how you got into debt in the first place.