You might want to consider these alternatives instead if you can’t qualify for a debt consolidation loan with a lower interest rate than you’re currently paying.
- Overhaul your allowance. Compare how much you’re investing with just how much you earn (aka earnings) and find out where you could conserve money to take back more cash for debt reduction.
- Renegotiate the terms of one’s financial obligation. If you’re struggling to meet up your minimum repayments, your loan providers could be ready to reduce your rate of interest or make use of you in other methods. (more…)