Consolidating first second mortgage loans

You could transfer that balance to a balance transfer credit card with 12 months of 0% interest.

Then you would be able to cut down that balance while having a full year without interest.

Of course, you could also lean on friends and family if your debt is something a little more manageable.

If you can avoid using your retirement funds for debt consolidation, then you should.

Especially since, in most cases, the money you keep in your 401k is protected from creditors.

Personal loan rates are generally lower than credit card rates, so consolidating could save you hundreds, or even thousands, of dollars in interest payments.

Using a personal loan to reduce debt can have a few benefits.