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Consumer Personal Loans
Credit Card Debt
Advantages of Making Credit Card Debt Payments on Time and Other Tips
Avoiding Credit Card Traps
Credit Card Counseling – Learn Credit Management Tips
Credit Card Debt and Simple Ways to Consolidate Them
Credit Card Debt Consolidation Nationwide Epidemic
Credit Card Debt Consolidation Solutions
Credit Card Debt Help for Senior Citizens
Credit Card Debt Reduction
Credit Card Debt Solutions That Can Help
How to Pay Your Way Out of Credit Card Debt
Paying Off Your Holiday Credit Card Debt
Prevent Identity Theft With a Credit Freeze
Saving Money on Your Credit Card Bills
Terminate Credit Card Debt Without Consolidation
Tips on Credit Cards, Part 1
Credit Collection Laws
Credit Repair Organizations Act
Fair And Accurate Credit Transaction Act
Fair Credit Billing
Fair Debt Collection Practices – Know Your Law
Statute of Limitations
The Fair Credit Reporting Act
The Fair Debt Collections Practices Act
The Truth In Lending Act
Credit Counseling
Can Consumer Credit Counseling Help Avoid Foreclosure
Credit Card Counseling
Credit Counseling a Must for Bankruptcy
Credit Counseling Benefits
Credit Counseling Can Reduce Your Debt
Difference Between Credit Counseling and Debt Settlement
Free Credit Counseling to Help Manage Your Debt
Using Credit and Debt Counseling to Manage Your Finances
What Can Credit Counseling Offer You?
What is Credit Counseling
What to Ask a Credit Counselor?
Credit Education
Consumer's Rights
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Finance Charges
Credit Reports and Scores
Credit Repair After Bankruptcy
Do you Know the Benefits of Checking your Credit Report?
Debt Consolidation
4 Valuable Tips on Debt Consolidation
Become Debt Free With Financial Advice
Benefits of Debt Consolidation
Bill Consolidation Loans
Bill Consolidation Advice to Help With Debt
Credit Consolidation: Is It Worth Taking?
Debt consolidation and Ways to Avoid Scams
Debt Consolidation Explained - What Happens if You Don't Pay?
Debt Consolidation Loans
Debt Consolidation Loans for Payday Loan Debt
Debt Consolidation Non-Profit
Debt Consolidation Now Will Improve Your Credit Score Later
Debt Consolidation Provides Relief from Financial Stress
Debt Consolidation Services Helps to Clear Debts
Debt Consolidation – Find Relief To Your Financial Stress
Debt Management Program
Debt Management Program Will Ease Debt Burden
Do You Need Debt Consolidation?
Get a Debt Consolidation Loan to Manage Bad Debts
Government Debt Consolidation Loans
Government Debt Consolidation Loans for Student Loans
How to Consolidate – Debt Help – Consolidate Your Debt Payments
How to Consolidate Bills Effectively When Left in Debt
How to Consolidate Debt
Let the government help you consolidate your debts
The Advantages of Credit Consolidation
Understanding Debt Consolidation Loans
Debt Settlement
Elderly Can Benefit from Debt Settlement
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Bill Reminder Tool
Bill Reminder User Guide
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Loan Modification Guide – Do It Yourself
Frequently Asked Questions
Step 1: Prepare yourself
Step 2 Gather the necessary documents
Step 3 Know what to expect
Step 4 Contact your lender
Step 5 Review your loan-modification plan
Step 6 Finalize the approval and begin making payments
Home Buying
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Home Equity Interest Rate Charges
Home Equity Line of Credit
Home Equity Loan Fees
Managing Your Mortgage
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Mortgage Debt Elimination, 3 Things You Must Know
Real Estate Laws
Renting vs Owning
Interesting Money Articles
12 Amazing Facts about Credit Card Debt
12 More Interesting Facts About Money – Part 2
24 Amazing Pictures of Money
Introduction To Budgeting
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All You Need to Know About Budget Basics
Basics of Personal Budgeting
Budgeting – How Much?
Debt Management and Prevention Using a Budget
How to Pay Off Debt – Start Budgeting
Maintaining and Budget Planning
Manage Your Debt by Learning How to Budget
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Transcript – The Basics Of Budgeting
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Managing Debt
Debt Relief The Issue of Forgiveness
Get Out of Debt by Changing Your Financial Habits
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Start Early Teaching Kids Money Management and Savings
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How 'Charge Offs' Effect You
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Money Management Means Setting Goals
Save Money When going to work
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Student Loan Default Penalties
Consolidate Student Loans
Student Loans and the Credit Squeeze
Types Of Debts
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Balance Transfers
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Gambling Debt Problem Gambling and Bankruptcy Connection
Holiday Credit Card Debt
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Six Easily Avoidable Causes of Debt
Ways to Pay Off Holiday Debts
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How to Consolidate Bills Effectively When Left in Debt

Learn how to consolidate bills effectively, no matter what your current debt status is. Even the bleakest situation can be resolved.
How Much Debt is Too Much?
The best test of excessive debt is the level of anxiety and stress it causes. If each monthly bill pay time becomes an event of worry, then it is time to look at your overall financial picture with an eye toward reducing and ultimately eliminating debt. If you are already at a point at which you cannot meet your monthly debt, then the need is immediate, and you must determine how to consolidate bills effectively.

Methods of Consolidation

Depending upon individual circumstances there are a variety of methods for consolidating bills.

  1. If payments have been made in a timely fashion, your options are more pleasant. Homeowners should consider an equity line of credit or a cashout re-finance of an existing mortgage, in order to pay off all “bad” debt and begin anew. This option works when there is enough equity in the home to access, and, as well, the interest rate will generally be lower than any other type of debt consolidation loan.
  2. Non-homeowners who have made timely payments should consider a personal loan for debt consolidation. If credit is good, a bank or credit union may offer a loan at a more reasonable rate than typical bill consolidation lenders. The key will be to get a payment that is lower than the total payments on the current debt being consolidated.
  3. Credit card rotation is another measure that has been used successfully when there is a commitment to future responsible spending. An individual who has relatively good credit may get offers in the mail for new credit cards at 0% or very low initial interest rates. Transferring balances from high interest credit cards to this new lower one can assist in paying the debt off more rapidly if good self-discipline is used. When the introductory period is over, the balance can be transferred to another offer, and so on. The danger in all of this is that a consumer can end up with many cards in his wallet, all of which are tempting to use if self control is lacking.
  4. Bill consolidation professionals and companies offer services to debtors that include negotiation with current creditors for a lower payoff balance, securing a bill consolidation loan with an affordable monthly payment, and, if truly ethical, assistance with budget development and credit counseling to avoid future recurrence. If this option is selected, the wise consumer will do plenty of research and secure the services of an individual or company that has an outstanding reputation.
  5. Chapter 13 Bankruptcy is a drastic but sometimes necessary option. Under this plan, all debt is consolidated by the Bankruptcy Court, and the debtor agrees to a 3-5 year payment plan with an overall reduction in total debt. Monthly payments are made to an attorney appointed by the Court and distributed to creditors accordingly. The debtor needs to understand that no new credit will be granted until this obligation is paid in full, and, as well, the credit report will be affected for many years to come.
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