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Nerd Wallet recommends visiting your local credit union first.
Most credit unions offer their members flexible loan terms and lower interest rates than online lenders, especially if you have a low credit score.
To do this, many or all of the products featured here are from our partners. You can also compare loan options based on your credit score.
Debt consolidation — rolling multiple unsecured debts into a single payment — can be a useful strategy when you want to simplify payments toward your debt.
» MORE: 4 keys to successful debt consolidation Enter the balances, interest rates and monthly payments you currently make toward your unsecured debts, such as credit cards, personal loans and payday loans.
Do not enter secured debts such as car loans or low-rate student loans because there are better ways to manage those debts.
When you’ll be debt free: Based on your current balance and monthly payments, how long it’ll take you to be free of debt.
(Learn more about auto refinancing and student loan refinance options.) Step 1: This shows the following results, based on the figures you entered: Total balance: The sum of all your debts.