If you’re facing problems to manage your bills properly, then bill consolidation may be your right choice. Attending a no-obligation free counseling session with a debt relief company will enable you to understand whether you should consolidate bills or look for some other options.
How to pay off bills - Types of bill consolidation
Bill consolidation program
This is similar to a debt consolidation program, where you get help from a consolidation company
Bill consolidation loan
You take out a loan from a financial institution and repay your existing bills/debts with that amount. Thus, you replace your existing bills with a single consolidation loan, which you repay through single monthly payments.
Balance transfer method:
This is a DIY option wherein, with your creditors’ approval, you transfer your high interest debts to a low interest card, if there’s available credit limit. Thus, you can consolidate bills to repay them with ease.
Are there any other way to repay debt?
Apart from opting for bill consolidation, you can also think of settling your debts if the amount of your outstanding debts is too high. Or, settlement can also help you if you cannot repay the debts in full and want to get rid of your debts fast.