Need money to consolidate credit card debt or high interest student loans? Use debt consolidation services to pay off bills, consolidate your credit card debt, and get harassing creditors off your back permanent. You can get completely out of debt in a shorter time than you might expect.

Debt Consolidation Loan

One of the best ways to improve your credit is to pay off debts. Lenders advise that keeping a high debt to income ratio will adversely affect your credit rating. You should lower your debt ratio to below 45%. That is, reduce your balance on all revolving credit accounts to below 45% of the available credit limits. This is one of the most effective ways to raise your credit score. If you are a homeowner, it is very smart to pay off bills with a home equity loan. If you have little or no equity, consider a 125% LTV.

125% LTV (Loan to Value)

125% LTV lets you borrow up to 125% of your home's value. (LTV= Loan To Value.)This loan is most commonly used to consolidate debts. If you apply, this debt consolidation loan will combine all of your debts into one lump sum.

Pros

• Improve your credit
• No more phone calls from creditors
• One low monthly payment

Cons

• Interest rates are higher than home equity loans and refinancing
• You also may not be able to deduct the total loan amount with a 125% LTV. In most cases the only thing that you can deduct is the value of the home. Contact your agent for more details regarding debt consolidation loans.