what\’s the difference between refinancing and debt consolidation?
Phyllis S asked:
I want to refinance and include my home equity loan and get extra money for a new car. What is the right option?
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I want to refinance and include my home equity loan and get extra money for a new car. What is the right option?
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@ June 16, 2008

Refinancing reduces your current payments and you often can get money.
Debt consolidation is combining loans together.
So, refinancing is what you want.
Refinancing is when you refinance something like a car or a home.
Credit consolidation is when you combine all of your bills and make just one monthly payment.
You should get a bill consolidation loan, to save money and to buy your new car.
I’m going thru same thing with lots of pitfalls. I must refinance because of circumstances but I am only going to refinance to a fixed amount and not take any cash out.
There is some useful advice here.
debt consolidation
getting out of debt is pretty easy with a debt consolidation plan
however it may get a bit tricky at times, I suggest you get as much information as possible online on this first,
a good place to start in my humble opinion is:
The following articles should clear your doubts:
Debt Consolidation - Get Out Of Debt
How to Hire a Debt Counselor?
What is Debt Relief?
Debt Management and Building Wealth
How to lower your debts?
How to reduce debt : How to lower your expenses?