First thing I did when I tried to reorganize my fiances was entering all my debt accounts and creditor accounts on a spreadsheet. I used Microsoft Excel, but there’s a free option. Just use Google Doc. This is how I organized my debts. Column 1 – Name of Creditor (Debt Holder) Column 2 – Contact [...]
The simple answer is “it depends” If you choose the right debt consolidation loan, you’ll have one monthly payment with very low interest rate compared to your ridiculously high interest rate on your unpaid debts. A great debt consolidation loan will have low interest rate plus flexible repayment terms with no prepayment penalty clause attached. [...]