| Debt
consolidation Debt consolidation is when you pay off your
credit cards by means of taking of a second mortgage on your house.
Debt consolidation is worthwhile if you see that the total payment
is less then your credit card payment and, or car payments, and also
worthwhile when you are in need of extra cash for anything ranging
from home improvement to college education for your children.
Even if the saving is small you might take into consideration that
the new loan will be tax deductible which will save you quite a lot
of money.
Once you pay off your credit cards the prudent thing is not to use
the cards any more, which for some people might mean tearing up the
credit cards.
Dr. Gordon |
