Advantages of debt consolidation and consolidation ConsDebt has become a common way to reduce interest rates and monthly payments to people who owed money to several creditors each month. Despite its popularity, debt consolidation is not the best solution for everyone. Before accepting the debt consolidation process, analyze the advantages and disadvantages of this instrument. PROS Debt Consolidation: Cash or credit for debt consolidation is relatively easy to obtain. Often, homeowners can use the capital accumulated in their …

A Reader Asks…

I am current paying my loans at 6.8%. I keep hearing that i only have until July 1,2006 to consolidate. Should I do it or take my chances that my rate will go up?