So you can bet that where competition rules, advertising spin appears.Here are 10 myths about debt consolidation and the truth about them. Loans through Avant give you the flexibility to pay off your debt with simple monthly payments over the course of 24 to 60 months** We give you the flexibility to personalize your loan and choose the best option for your needs.Avoid the hassle of managing multiple credit card bills every month.Debt consolidation is the process of taking out one loan to pay off two or more unsecured debts.If you have multiple outstanding credit card bills, for example, a debt consolidation loan could be used to pay off those bills, leaving you with only one monthly payment.I was given an opportunity to improve my cash flow, without having to sell my single biggest asset.
This is often done to secure a lower interest rate, secure a fixed interest rate or for the convenience of servicing only one loan.You showed understanding of my situation without being judgmental in any way." D.Jevon, CT, South Africa This is also a loan and means another debt in your account. It helps you consolidate your other debts, and thus to bring down the interest rates as applicable.Today, a majority of the home equity lines he approves as owner of Priority Plus Lending will be used to pay off Americans' credit card debts.Nor is his route the only one to spring up in a capitalistic society: Where there's a need, there's a buck to be made, even among the broke.If you are considering debt-consolidation options, avoid these misrepresentations: Credit counseling involves helping consumers develop a budget and the discipline to make steady payments to clear their debt loads. "Most of these individuals make a decent living, but at the end of the week don't have enough money and don't understand why," says Joel Greenberg, president of New Jersey-based Novadebt.