Need help consolidating my bills
If not, try negotiating with your lender to lower both rates.If you’ve been a good customer at that bank or credit union, they may take that into consideration and reduce your rates.Debt can also be consolidated without a loan in the form of a debt management plan.
A debt management program consolidates all your credit card bills into one, lower monthly payment at a lower interest rate. Debt consolidation is any method of combing multiple debts into one monthly payment.However, the whole purpose of doing this is to reduce the interest rate you pay on debts as well as the amount you pay every month so it is important that have accurate financial records.Here is a step-by-step sequence for getting a debt consolidation loan: Your new monthly payment and interest rate should be lower than the total you were paying.That translates into a lower monthly payment for you.A debt consolidation loan can take a lot of the stress out of your financial life by reducing multiple monthly payments to just one payment to a single source.
The 0% interest is known as an “introductory rate” that expires, typically after 12-18 months.