GOBankingRates works with many financial advertisers to showcase their products and services to our audiences.
These brands compensate us to advertise their products in ads across our site.
This compensation may impact how and where products appear on this site.
Commitment to Our Readers
GOBankingRates' editorial team is committed to bringing you unbiased reviews and information.
it’s possible for you to read more about oureditorial guidelinesand our products and servicesreview methodology.
What Is Debt Consolidation?
Debt consolidation rolls multiple debts into one payment.
Peer-to-Peer Loan
Maloney said he finds peer-to-peer loans an interesting alternative for debt consolidation.
They also provide a personal touch, connecting borrowers directly with investors.
Debt management plans involve combining your debts into one with one monthly payment.
For starters, he recommended evaluating the interest rates on your existing debts.
If consolidating will not significantly lower your rate, it may not be worth it, he said.
Its essential to adopt a disciplined approach to avoid falling back into the same financial pitfalls.
A credit card balance transfer is arguably the easiest method.
Different types of loans are also options, but these can be hit or miss.
Takeaway
Finding and working with a financial advisor is a great idea.
A financial advisor will help keep track of your finances and assist you in attaining your financial goals.
Get to know your financial advisor options today for free!
FAQ
Get to know your Financial Advisor options today for Free!
you’re able to learn more about GOBankingRates processes and standards in oureditorial policy.
Share This Article:
