You have seen debt consolidation loans advertised and they may look like a good idea. The way these loans work is that you are given a bank loan against your property and you use this money to pay off high interest credit cards. Typically, you are required to use the equity in your house as collateral. The problem is that most people who are in deep debt do not have equity in their homes and the ones that do are concerned (rightfully so) about taking on more debt.

In order to reduce your debt, you need less credit not more. Increasing debt by mortgaging your house is typically financial suicide. Many people report that Re-Financing with a consolidation loan or a second mortgage pushed them over the financial brink. Under these circumstances, the loan or mortgage you do obtain (if you qualify) will be at a very high interest, and though you will appear to be making progress, you will only be digging yourself in deeper in debt.

A common myth is that debt consolidation loans are tax deductible. This is only partially true. Interest paid on mortgages that exceed the value of the house, used to repay credit cards or personal loans (called unsecured consumer debt) is not tax deductible.

The more you learn about debt consolidation, the more you’ll see its advantages over debt consolidation loans.
Fill out our free debt consolidation form and get info from a debt consolidation specialist.

Why is getting a loan a bad move?

About our services

Why should I do this?
Start saving thousands on your debt by filling in the short form. This is a limited-time offer, so please take advantage of it and apply NOW.

Is it confidential?
All applications are 100% confidential. There is absolutely NO obligation for filling out this free debt consolidation form and receiving a free debt analysis by phone.

Does it work?
This program is widely considered by debt and credit experts as the most effective way of dealing with debt. And exclusive to our program are some additional features:

No need to own property
This is NOT a loan
Low qualifying debt minimum ($5000)
No credit check


Don’t forget to check out the frequently asked debt consolidation questions for information about our debt consolidation services, why getting a loan is not such a good idea, and more!