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Debt consolidation dating debt

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With a home equity loan, the lender advances you the total loan amount upfront, while a home equity credit line provides a source of funds that you can draw on as needed.

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You may be able to lower your cost of credit by consolidating your debt through a home equity loan or home equity line of credit.Many states have their own debt collection laws that are different from the federal Fair Debt Collection Practices Act.Your state Attorney General’s office can help you find out your rights under your state’s law.Credit counseling services provide various resources to help solve your money problems.From starting a budget to educational programs on money management, counselors discuss your entire financial situation and help you develop a personalized plan.You can find free or low-cost credit counseling options at: Under the provisions of the Servicemembers Civil Relief Act (SCRA), you may qualify for a reduced interest rate on mortgage payments or credit card debt, protection from eviction, or a delay of all civil court actions, such as bankruptcy, foreclosure, or divorce proceedings.

To find out if you qualify, contact your local Armed Forces Legal Assistance office.

Consolidation means that your various debts, such as credit card bills or loan payments, are rolled into one monthly payment.

If you have multiple credit card accounts or loans, debt consolidation through a credit counseling service can help simplify or lower your payments.

If you believe you do not owe the money, contact the creditor in writing and send a copy to the collection agency informing them with a letter not to contact you.

A debt collector may not: Report any problems you have with a debt collection company to your State Attorney General's Office, the Federal Trade Commission (FTC), and the Consumer Financial Protection Bureau (CFPB).

Thankfully, there are a number of opportunities available if you find yourself in this situation.