Consolidating debt car loans

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Consolidation works best when your ultimate goal is to pay off debt.

The four most effective ways to consolidate credit card debt are: This type of credit card charges no interest for a promotional period, often 12 to 18 months, and allows you to transfer all your other credit card balances over to it.

The loan should give you a lower interest rate on your debt or help you pay it off faster.Nerd Wallet recommends visiting your local credit union first.Most credit unions offer their members flexible loan terms and lower interest rates than online lenders, especially if you have a low credit score.Step 2: Select your credit score range to see your debt consolidation options, including personal loans.You’ll see typical annual percentage rate ranges offered by lenders and alternative options for bad credit.

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