The consolidation of debt is a good idea or am I digging myself into a deeper hole?
I have $ 6,000 in bad debt that are hospital bills. The consolidation of debt is a good idea? $ 150 a month for six years is what I said ?????
I guess service you are using a debt consolidation on the basis of the numbers provided. And, yes, it seems they are digging a bigger hole yourself. Just go to your bank and tell them that their intent (out of debt) and can help with debt consolidation or refinancing your existing debt. Consolidation debt, in the generic sense, simply means taking one loan and pay all others with this loan. You do not have to pay a service to do this. The service you are using is calling for the exchange of your current debt credit card I guess you are paying between 12% and 18% of interest a new loan you will pay 22% of six years. Do not sound like a good deal for me. You bank may be willing to extend their loans, thus reducing monthly payments or even reduce interest rates to help with cash flow. If your bank is not willing to work with you, there may be others who will.
Bad Debt Consolidation Loan
