Your One Stop Resource for Saving Money.

Bill Consolidation Help and Resources

If your bills are piling up and you don’t know what to do to alleviate the amounting debt and stress, you need to look into bill consolidation alternatives. Consolidating your bills involves rolling all your debt (such as car loans, credit card bills, and outstanding/delinquent payments) into one new account with one payment. It could be a bill consoldiation loan, where you apply for a low-interest consolidation loan or credit card. This helps reduce multiple high interest rate payments by consolidating them all into one loan/credit credit amount AND gets lenders off your back regarding back payments.

You could also consolidate bills through a service, like credit counseling or debt settlment if you cannot get approved for a loan. If you choose bill consolidation services, do your homework and pick the right solution for your situation, as some can hurt your credit or have longer term consequences.

If you’re new to bill consolidation, read through the following resources, guides, and advice, and get a better idea of what’s involved. Be sure to also get a free bill consolidation quote for a consolidation loan from our network of reputable lenders.

• By Consolidating My Bills, Will It Reduce My Debt?
  Bill consolidation isn’t bill reduction. It can ultimately save you money in the end but the act of consolidating your bills simply reduces the number of individual payments you have. So if you have multiple credit cards and a few outstanding loans, with bill consolidation, you can lump all your credit card debt and loan debt into one loan or credit card. The way bill consolidation can help you save money is that instead of having various debts with various interest rates, you now have everything condescend into one loan/credit card with one interest rate. However, the art of consolidating bills is to find a low interest loan or credit card to roll everything into, and then aggressively pay off your debt.
• If I Roll My Debt Onto One Credit Card, Will This Help Me Consolidate My Debt?
  Credit cards are definitely one option when it comes to bill consolidation. By rolling your various debts (e.g. multiple credit cards, small loans, overdue payments, etc.) onto one credit card, you can eliminate the multiple interest rates you’re dealing with. Undoubtedly there are a few that are through the roof. So by using a low interest credit card to consolidate your debt, you can reduce all your various debts with varying levels of interest into one debt with a low interest rate. However, you want to make sure the credit card you choose won’t increase the interest rate rapidly. You also don’t want to only pay the minimum balance on the card each month. The goal is to aggressively pay off your debt once you roll it over onto a credit card.
• I’ve Heard I Can Refinance My Home To Consolidate My Debt. Is This Wise?
  Refinancing your home is one possible solution to bill consolidation, but you need to be careful. You can get a home refinance loan that also covers outstanding debt, but the problem is you’ve now involved your home in your debt. In other words, you got a refinance loan not to reduce your monthly mortgage payments but to reduce your debt. So that means your new monthly mortgage payments could possibly be the same as before and in some cases it can be more. You don’t want to refinance your home just to reduce your outstanding debt if you know you won’t be able to handle the new payments.