1. Debt consolidation
Debt consolidation is a good idea if you have a bunch of unpaid credit card balances across a few different cards. Basically, you take out a personal loan that covers a portion of all of your balances and then make monthly payments on that one loan. This helps to streamline your credit card debt into one monthly payment instead of juggling several. The new loan will still charge you interest, but it’s usually at a lower rate than what you’d be paying on your different credit cards.
And unlike the variable interest rate charged by credit cards, the interest on your debt consolidation loan is often fixed, giving you the peace of mind of predictability. LightStream is a top debt consolidation loan provider because …
Read the full article at: https://www.cnbc.com/select/credit-card-debt-passes-1-trillion/