Debt and Bill Consolidation - Signs You Need To Consolidate Your Debt

If your debt is becoming difficult to get on top of, here are some questions to ask yourself to help you determine if you need some help managing or consolidating your debt. If you answer yes to any of these questions, you should probably consider applying for a debt consolidation loan or seeking help from a debt management service.

1. Do you borrow from one credit card to pay another?

2. Are you unable to pay down any principal on your loan balances and can you only afford to make the minimum monthly payments?

3. Do you make your loan payments on the very last possible day that you can get away with making your payment? Are you unable to make your payments even a week ahead of the due date?

4. Do you find yourself putting necessities like groceries and gas on a credit card without being able to pay it back by the end of the month?

5. Are you continually seeking new loans or loan sources in order to keep up with your expenses and bills?

6. Do you have more than 5 credit card payments? Are you paying your debt payments to many different companies every month?

If your income is maxed out with debt or credit card payments every month, it can be very discouraging to work all month and only be able to keep up, or not even quite keep up with your bills and debt. Debt can be manageable and livable if you are making progress with paying down your debt balances.

Sometimes, if your income has dropped or you are in a situation where you have gotten yourself into too much debt. It is best to seek help managing your debt, or applying for a debt consolidation loan, which can lower your monthly payments and leave you the extra money every month to start paying down your principal balance.

You can have financial breathing room if you can consolidate your bills into lower monthly payments. It is a smart thing to do if you are struggling to make your minimum payments.

There are many ways that debt can be consolidated. If you have a home with some equity, you can apply for an equity line of credit which can be used to consolidate your debt. Even if you have no equity in your home, you may be able to qualify for a home loan which will go over the amount of equity you have in your home, sometimes up to 125% of your homes value.

To view our list of recommended debt consolidation companies or home equity line of credit sources, visit these pages: Recommended Debt Consolidation Companies and Recommended Home Equity Line of Credit Sources

Carrie Reeder is the owner of ABC Loan Guide, an informational website about loans. The site has informative articles and the latest finance news.

---

Consolidating Your Government Student Loans

A Consolidation Loan allows you to combine your federal student... Read More

Debt Consolidation with Free Government Grants? One Scam to Avoid

Have you ever seen a commercial or an ad promising... Read More

How to Choose a Debt Consolidation Loan?

If you have decided that a debt consolidation loan is... Read More

Online Debt Consolidation ? Devising Newer Ways for Changing Consumer Trends

Consumers today are getting wiser by the day. They are... Read More

All About Debt Consolidation Loans

Debt consolidation loans can be the answer to a number... Read More

Vultures and Victims

Has anyone noticed how many loan companies now fill up... Read More

When Your Bills Are Piling Up Here Are 6 Different Ways to Consolidate

When it comes to debt consolidation some people dream of... Read More

Debt Consolidation Refinance Loans - A Great Way To Lower Your Bills

For millions of homeowners, refinancing is the perfect way to... Read More

Debt Elimination: Legal! Lawful! Ethical! Debt Elimination Really Works

You are trying hard to eliminate your loans but keep... Read More

Getting the Most Out of Consolidation Loans UK

Before letting too much debt or too many payments get... Read More

Debt Consolidation: Why And How This Strategy Often Backfires!

Debt consolidation solutions, has found that as good as it... Read More

Avoid Bankruptcy

The first but definitely not the easiest thought that comes... Read More

Debt Consolidation when You Find Yourself Overwhelmed with Bills, Bills, and More Bills

Many of us find ourselves overwhelmed with bills, bills, bills.... Read More

Bad Credit Debt Consolidation Loans - Getting a Debt Consolidation Loan, Even With Poor Credit

An online debt consolidation loan allows even people with a... Read More

Shake off the Chains: Credit Card Debt Elimination is Easier Than You Think!

Feeling like you're on the brink of financial disaster? You're... Read More

Credit Card Purgatory - A 7 Step Comprehensive Plan to Get and Stay out of Credit Card Hell

Does this Sound like You? There are 100 shopping Days... Read More

Debt consolidation ? More Options for Reducing Credit Card Costs

Borrowing money against your credit cards has always been among... Read More

Consolidate All Your Debt Into One Monthly Payment

Are you feeling overburdened with debt? Are you paying out... Read More

Debt Consolidation Makes Sense Only with Low Interest Rates

Credit that cannot be managed or is not being repaid... Read More

Thinking Beyond Debt Consolidation Loans

Planning to devise a permanent solution to the problems of... Read More

Debt Consolidation ? Consolidate Your Student Loans Now!

The Federal student loan program has benefited thousands of college... Read More

The Pros and Cons of Debt Consolidation Loans

You are swimming in debt. You have 4 credit cards... Read More

Is There Something Called a Bad Credit Credit Card?

Is there something out there called a bad credit credit... Read More

7 Ways to Consolidate Your Debt

If you are in debt, you have several options available... Read More

What is Debt Consolidation?

Here is a useful guide to what is Debt consolidation.... Read More

Whats the Difference Between Debt Settlement and Debt Consolidation?

The Debt Settlement process involves negotiating with your creditors to... Read More

Credit Counseling ? Get in Line Now to Avoid the Upcoming Rush

Credit counseling is a valuable service for consumers who have... Read More

Credit Counseling ? Six Tips to Avoid Counseling Scams

Credit counseling is a useful service for anyone with problem... Read More

Does Working With a Credit Counseling Organization Hurt Your Credit Score?

Credit counseling organizations do not lower your credit score when... Read More

Debt Consolidation -- Choose Your Credit Counselor Carefully

Recently passed by Congress, the Bankruptcy Abuse Prevention and Consumer... Read More

Debt Management - How a Debt Consolidator Can Reduce Your Debt

A Debt consolidation program starts with evaluating your financial situation.... Read More

Debt and New Spirituality

Overcoming the stigma of being in dept, grow in self-confidence... Read More

The Burden of Debt

Over recent years personal debt in the UK has exploded.... Read More