10 ways to consolidate debt
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Hey all-
Here are 10 ways to consolidate debt or reduce your monthly payments.
Not all of them have to do with signing up with a credit counseling agency.
One of the more overlooked ones is borrowing from your life insurance policy. If you have a whole life policy you can borrow against the cash value of the policy. Then, once you get in better financial shape you can pay back on the policy.
There are some life insurance policies where you can use them as your own personal finance company. You basically borrow from yourself and pay yourself back. You pay yourself the interest and finance charges you were going to pay a lender and come out ahead.
It’s called the Infinite Banking concept. You can do a search on Google for it.
Unfortunately, I’ve had to borrow too much against it though.
It’s still a good idea.
-Adam
10 Ways to Consolidate Debt (KLAS)
When credit card bills start piling up, you can feel as if you’re drowning. Here are the top 10 ways available today to obtain funding to consolidate, and pay off, your debts.
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