Bank of america consolidating debt

To find out if you qualify, contact your local Armed Forces Legal Assistance office.Consolidation means that your various debts, such as credit card bills or loan payments, are rolled into one monthly payment.You can leave a response, or trackback from your own site.Credit counseling services provide various resources to help solve your money problems.Chapter 7 is a “liquidation” procedure, which actually works best for most people.

Credit Counseling will lower your interest rate on your credit cards and not the balance.You may be able to lower your cost of credit by consolidating your debt through a home equity loan or home equity line of credit.With a home equity loan, the lender advances you the total loan amount upfront, while a home equity credit line provides a source of funds that you can draw on as needed.From starting a budget to educational programs on money management, counselors discuss your entire financial situation and help you develop a personalized plan.

You can find free or low-cost credit counseling options at: Under the provisions of the Servicemembers Civil Relief Act (SCRA), you may qualify for a reduced interest rate on mortgage payments or credit card debt, protection from eviction, or a delay of all civil court actions, such as bankruptcy, foreclosure, or divorce proceedings.

If you have multiple credit card accounts or loans, debt consolidation through a credit counseling service can help simplify or lower your payments.

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