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How to Get a Debt Consolidation Loan

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From Quick Guide: Basics of Debt Consolidation

Summary: In order to get a debt consolidation loan, apply for a loan, get a second mortgage and get a second line of credit that can be consolidated into one bill. Get a debt consolidation loan that will lower payments with tips from a financial consultant in this free video on credit cards and personal finance.

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By Carrie Kukuda
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Carrie Kukuda has a business administration degree, and was branch manager of a community bank. Kukuda owns a consulting business for one-on-one credit education & budget/debt...read more

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Video Transcript

"Thinking about how nice it would be to have all your debt in one loan? Hi I'm Carrie Kukuda, the Someday Coach, and I'm here to talk about how to get a debt consolidation loan. First off you want to apply for your loan, you can get a second mortgage on your home, you can do a line of credit, as well you can get a unsecured debt consolidation loan. Be careful with those, the interest rates are a little bit higher. I would start with where you presently already have your loan at, they already know your payment history, they already know a lot about you, sometimes you can get a better rate that way as well. And you also can check around, and shop around, and just make sure that you can get your best bang for your buck. But the purpose usually of a debt consolidation is, is to have one bill, and to be able to get everything all in one, and typically that usually will lower your payment. So shop around, get the best rate, and have one bill. Again, my name is Carrie Kukuda, and thank you."

eHow Article: How to Get a Debt Consolidation Loan

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