need to consolidate

HI Jack, you will be getting a call from the counselor shortly. Get all your account statements and the debts you want to include in the plan. He will discuss about your repayment options and draft a plan. After your agreement in writing, he will start negotiating with your creditors on lower interest rates.

Yes debt consolidation will help you in getting you out from financial worries. There are different ways to consolidate your debt. One of the options is to transfer your outstanding balance to a credit card with a lower interest rate. To transfer the balance, you have to provide the credit card company some information, such as the name of the issuing bank, details of the account number, and approximate balance. However, there is a fee for this type of transfer. So, make sure that the cash transaction fee is low.

Another way is to obtain a home equity loan. If you own a home and you have stayed there for many years then it is likely that you must have built up equity in your home. You can shop around for banks and mortgage companies that offer home equity loans. You can use the home equity loan to pay off your debts. To get a home equity loan you have to fill out an application. After you submit the application the lenders will appraise your home to calculate the amount of your equity.

These are some of the ways to consolidate your balances.

However, in my opinion Jack, you should seek help from a counseling service because they will chalk out a plan for you depending on what your bills are and how much you can afford to pay.:D