Its really not surprising that so many of us are in debt due to all of the expenses that pop up into our lives. Its also no wonder that we would consider a debt consolidation plan. All of the things that we have to pay for such as our education, mortgage, car loan, all add up and give us the feeling that were sinking fast, with no hope for air. Luckily there are tons of plans to consolidate debt that we can enroll in, and save our financial future.
These types are perfect for people who are paying off many different loans or credit card bills. The debt consolidation plan will take your smaller bills, and bundle them up into one payment, which will make for a larger balance but since its paid off over a longer period the monthly payments will be much lower. This will actually give you some extra cash at the end of the month but using this money wisely with good financial planning is highly recommended. It is important to note that this will eliminate none of your outstanding debt, but its just intended to help loosen some of your budget up so that you can get back on your feet.
Many different types of debt can be tackled with the consolidation loan; those include...