A debt consolidation loan can give you the money you need to consolidate all those bills and their high interest charges.

Debt problems can create a lot of stress on you and your family. Stress interferes on your ability to make the right decisions about your family’s financial future and general well being.

Instead of writing out 10 checks for your monthly debt payment you can take care of those bills with only one check and know the exact date when the consolidation loan will be paid off. This can give you more peace of mind and can be a major stress reducer.

Types of online debt or bill consolidation loans:

  • signature loans,
  • second mortgages,
  • home equity line of credit
  • credit card loans
  • and others

Low interest consolidation loans can pay off high interest credit cards, for example, so you can concentrate on paying off the secured house loan.

Be careful though, many consumers find that consolidating debt into another loan can back fire on you. Within an year, people often begin using the same credit cards paid off by the loan again, digging themselves deeper into debt. Now having to make payments not only on the credit cards but also on the consolidation loan they have recently acquired.

Although bill consolidation programs must also be timely, regular payments, they are more likely to work with you if you find yourself in a medical or some other emergency and need to make one or two late payments.

Debt consolidation loans must be used with caution, especially if you are thinking about consolidating unsecured debt to a loan secured by your house. You are putting your family home at risk.


In order to guarantee the repayment of the loan you agree to have something you own listed as collateral. Which could be repossessed if the debt is not paid back.

Credit Counseling Services

Free Budget Forms

Sample Letter of Hardship

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DISCLAIMER: The law will vary depending on your state, jurisdiction and specifics of your case. The information provided by is intended for educational purposes only. All the content on this site should NOT be considered professional legal advice or a substitute for professional legal advice. For such services, we recommend getting a free initial consultation by a licensed Attorney in your State.

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