Can I Find Debt Consolidation Help in Connecticut? (cont.)
Contributed by Melanie Vannuys
There should be listings in your local phone book for non-profit agencies. You can also ask around. Have any of your friends or acquaintances used a debt consolidation service recently? If they have, they may be able to point you in the direction of a reputable company. Word of mouth, whether good or bad, is an excellent advertising tool.
Is There A Debt Consolidation Program In Connecticut That Will Use My House As Collateral?
Using your home as collateral, or a home equity loan, is a dangerous option to use when it comes to debt consolidation. A home equity loan is one where the equity in your home is used as collateral on a loan. What you have done in this situation is taken your unsecured debts and turned them into secured debts with your home on the line. What happens if you can't or won't pay the bill? You lose your house, and likely everything in it.
On the other hand, if you are truly a changed person when it comes to your finances, and you can handle the responsibility of a home equity loan, this form of debt consolidation can supply you with the relief you need. You will combine all of your debts into one lump payment, probably with a lower interest rate.
