If you have a number of bills to pay, you may want to use a debt consolidation loan calculator to see if a personal or home equity loan is the right solution for you. Instead of paying numerous high interest bills each month, you might be better off making one lower interest payment. Youll only know for sure, though, if you use a debt consolidation loan calculator.
The first thing you need to do to use a debt consolidation calculator is to gather all of your bills together. Make a list of the bill, the amount owed, the monthly payment, and the interest rate.
The next thing you need to do is figure out what kind of loan you will get to consolidate your debts. The two primary debt consolidation loans are the home equity loan and the personal loan.
If you have any equity in your home, the home equity loan is the way to go. You will take out a second (or a third) on your house and pay the bank back a lump sum each month. The primary advantage of a home equity loan is that you will get a lower interest rate. The primary disadvantage is that if you do not make the payments, it can send your house into foreclosure not a small thing these days.
If a home...
To view and download this full PLR article, you must be logged in. Registration is completely free. Once you create your account, you will be able to browse, search & downlod from our PLR articles database of over "1,57,897+" on 1,000's of niches and 200+ categories without paying a penny. Click here to signup...
