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Most people who are buried under credit card debt are in the same boat — stressed, frustrated and looking for a way out.
If you can barely make your minimum monthly payments, things may feel hopeless; but don’t worry — there’s a solution that might work for you: Credit card consolidation involves getting a new loan — at a better interest rate — to pay down multiple credit cards more efficiently.
For example, what if interest rates go up, or you fall ill or lose your job?
If you can’t stop spending on credit cards, for example because you’re using them to pay household bills, this is a sign of problem debt.
Consolidating all your debts into one loan might appear to make life easier but there might be much better ways of dealing with debts.
Find out more about how debt consolidation loans work, then get free debt advice before you make a decision.
Wedding expenses, unexpected medical bills, or personal emergencies can leave you in a financial lurch — or maybe you lost track of spending, and things just got out of hand.
You could also consolidate your debts into an unsecured personal loan, but again you’ll need a good credit rating to get the best deals.
And while our site doesn’t feature every company or financial product available on the market, we’re proud that the guidance we offer, the information we provide and the tools we create are objective, independent, straightforward — and free. It can reduce your total debt and reorganize it so you pay it off faster.
(That way, you can get away from the high interest rates and reduce your monthly payments to just a single payment on just the one personal loan.) P2offers loans of all types - so, you can even avoid the credit card trap altogether and finance just about anything you'd normally put on a credit card.
But the really fun part about P2P Credit is that it's not a credit card company - the money for all of the loans comes from individual investors (real people!