loansconsolidation.net There are numerous ways to consolidate your loans. I believe that the first thing you should do is get your credit report and FICO score. This will help decide your options in debt management and lead you on the right path. If it makes financial sense, we will go over a few ways to combine any lingering loans you might have out there and hopefully have a lower rate to save you money. 1. Debt Consolidation Loan People that have good credit can apply for a debt consolidation loan from a bank or credit union. This way you can combine all your outstanding loans into one new loan. Most people will not be able to go this route as banks don’t like to lend these unsecured loans unless they have a very high score. These also usually have a higher rate as they are not backed by anything. 2. Credit Card Transfers If you receive or are able to transfer a credit card debt to a new card with a much better interest rate this might be good option. Try to get a zero-percent interest or low introductory rate credit card and transfer your high-interest credit card balances. This only makes sense if you believe you can pay off your new card before the introductory period is over. This method is sometimes called rate surfing. 3. Home Equity Loan and Refinance This one has gotten a lot of people in trouble these past few years with the housing market crash. People were tapping into their home equity to pay off debt and when house prices went down they were stuck with an …