More Two additional ways to consolidate debt are taking out a home equity loan or 401(k) loan.
However, these two options involve risk — to your home or your retirement.
For many people, consolidation reveals a light at the end of the tunnel.
If you take a loan with a three-year term, you know it will be paid off in three years — assuming you make your payments on time and manage your spending.
The UK credit card market can be a minefield if you're not careful, so for those who aren't sure what they're looking for, we offer you some help here by answering the most frequently asked questions. A credit card, at its core, is a plastic card that you can use to buy goods and services using money you borrow, as opposed to a debit card, which, while looking very similar, uses money that you already have sitting in an account.
Intro Rate for Balance Transfers This is the rate that you will pay on a transferred balance from another credit card for a set period of time (e.g.
six or nine months).', this);" onmouseout="Hide Tool Tip();" class="grey Border Left header Item Sortable" style=""Balance Transfer Fee Fee charged for transferring a balance to your credit card amount, as a percentage of the amount transferred, and subject to the minimum fee shown.', this);" onmouseout="Hide Tool Tip();" class="grey Border Left header Item Sortable" style="" Disclaimer: All credit cards are subject to the applicant’s status.
Debt settlement companies negotiate with creditors to repay less than you owe, in return for a substantial cut of the savings.
Damage to your credit is severe, and the process can take years.