(See also: Snowballs or Avalanches: Which Debt Reduction Strategy Is Best for You?) One way of speeding up the repayment process is debt consolidation.Read on for a roundup of your best debt consolidation options.
These are awesome tips for anyone trying to consolidate their debt.
If you're in the red, repaying the money you owe as quickly as possible can save you big.
The longer you carry a balance on credit cards and loans, the more interest you'll rack up on your debt — and the more you'll have to fork over when all is said and done.
But if you're careful not to overextend yourself, tapping into the equity of your home and then repaying yourself can be a very convenient way to consolidate your debt.
First, you need to decide between two choices: a home equity loan or a home equity line of credit.