This article was written by Matt

Student loans, car payments, mortgage, credit cards it goes on and on and never seems like there is an end in sight. If you have racked it up pretty good and are swimming in a cesspool of financial oblivion some tips on debt consolidation may be a good idea to consider. The last thing you want to be doing is living to work instead of working to live. Working toward a debt free or near debt free existence will lift a heavy mental burden off your shoulders and allow you to walk through society with your head up and hopefully your wallet a little fuller.

Shout like a Biatch

Check your credit report (you can get one free printout from each from the three credit report companies once a year). Make a list of all your debt. Notate each company, their contact info and how much you owe. Then get on the horn and start haggling. Call each creditor and politely work your way through every counselor until you get someone that may be able to help you with an adjusted interest rate, lump sum payment, yearly payout merge or other helpful advice on consolidation.

Be a Zero

Before you toss that credit card application for a zero percent interest offer take a minute to think. If you transfer all your credit card debt onto this card at zero interest you will be paying off the principle directly. The main thing to remember is that you do not want to pay a yearly fee and you need to make sure that you keep track of when the zero interest rate terminates. When it ends glom onto another similar offer. It is not always the greatest practice when it comes to your credit report but it may be the best temporary choice until you pay it off.

Refinance and Withdraw

Refinance rates are fairly low. If you can get a good deal with a broker that will not charge an exorbitant closing fee or get a mortgage home refinance workbook. You can not only reduce your monthly payments but also tack on a cash withdrawal at closing for paying off other higher interest loans.

Get a Pro

Debt consolidation companies can be an excellent investment however you must research your choice to make sure they are not a home equity loan in disguise, a predatory lender or a not for profit guise that will end up entangling you in a myriad of debt payoffs. Check with the Better Business Bureau for reputability as well as trust your gut. If something is too good to be true it probably is. Be sure to read all fine print before committing.

Debt consolidation may take a little leg work but in the end you will be reducing many unnecessary payments. Keep in mind that consolidating is a first step fix and that you may want to re-assess your spending habits to avoid getting strangled again and again.

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