interest rates

Tag: interest rates

25
Sep
2017

Looking To Get A Credit Card? Have A Look At These Great Tips!

We often receive lots of unsolicited credit card mail in our junk mail on a daily basis. Reward programs or lowered interest rates will be part of the incentives to lure you to sign up. What are you supposed to do? The tips presented below will teach you just about everything that you need to be aware of when considering a credit card.

Take note of all your credit card expenditures, so that you are sure that you are spending within your means. It is easy to loose track of the money you spend when you use your card unless you make a commitment to keep track in a note book or spreadsheet.

The majority of people do not deal with bank cards in the proper manner. While some people understandably go into debt sometimes, some people will abuse a card, and then they start racking up payments they’re not able to afford. Remember to pay your credit card balance every month. This will allow you to use your credit cards while maintaining a low balance and raising your credit score.

Do not close any credit card accounts before you are aware of the impact it will have on you. It is possible to negatively impact your credit report by closing cards. It is also best to keep your oldest cards open as they show that you have a long credit history.

If it is possible, you should pay off your balances in full every month. Really, credit cards should be used for convenience, and the bills should be paid on time and in full. Your credit score will improve by using the credit card, and paying the entire amount owed will keep you from paying any finance charges.

Plan a budget you will have problem following. Even though you have a credit card limit your company has provided you, you shouldn’t max it out. Be aware of what you should set aside for each month so you may make responsible spending decisions.

Read emails and letters from your credit card company upon receipt. Bank cards can make changes to your fees, interest rates or membership fees, provided they let you know in writing of the changes. You have the right, if you don’t like these changes, to immediately cancel the card.

Always pay your bills well before the due date, as this is a big part of maintaining your high credit score. Paying late will hurt your score and incur extra fees. Using automatic payment features for your credit card payments will help save you both money and time.

Credit Card

Never make purchases with your credit card, that you cannot afford. You might want a flat-screen television, but that doesn’t mean that you should use your credit card to buy it. You will wind up paying huge amounts of interest; additionally, the payments each month could be more than you can afford. Take some time to sleep on the the decision and make sure it is really something you want to do. If you decide that it is still worth purchasing, look into the retail store’s financing offers.

Consumers are constantly inundated with credit card offers, and it can become tough to sort through and find the good ones. By informing yourself, it is easier to choose the right bank cards. Now that you have read this article, you have the kind of advice you need to begin making the right credit decisions.

Create a budget for your credit cards. You need a budget for the money you make; therefore, your credit should be included in it. It is important not to think a credit card is just extra money. Decide how much you can afford to pay your credit card company, and do not charge more than that amount every month. Restrict your credit spending to that amount and pay it in full each month.

13
Sep
2017

Repairing Your Credit Is Only A Few Steps Away

categories: Personal Finance

You can often feel as though you are a victim when you have poor credit. Perhaps you have made bad purchasing mistakes, or had an emergency in your life which put you in debt. Poor credit scores will haunt you with past mistakes and events. It can be hard to make positive changes when you dwell on the past. The good news is there are many ways to improve your credit. Get started today with these tips.

If you don’t have very good credit, financing your home may not be easy. If this is the case, you can apply for a loan through the Federal Housing Administration (FHA). The credit requirements for these loans are more lenient than those of conventional lenders, and the federal government also guarantees the loans. FHA loans are ideal for those who cannot afford the high down payment that most banks require.

Credit Score

Financing a home can be difficult if you have bad credit. See about getting an FHA loan, which are loans that the federal government guarantees. You might be able to get an FHA loan even if you cannot afford closing costs or down payments.

It’s easy to lower your interest rate by ensuring your credit score is high. This allows you to eliminate debt by making monthly payments more manageable. Try to get the best offer and credit rates so you can increase your credit score.

Good credit scores mean you can easily qualify for a home or car loan. One way to help improve your credit is to pay your monthly mortgage payments on time. Once you own a home, you will have financial stability secured by your assets, thus a good credit score. A good credit score is necessary when you need to take out a loan.

Improve your credit score, as well as make some profit, through an installment account. There is a minimum amount each month that you will have to pay, so be sure not to get in over your head. If you use one of these types of accounts, your score will quickly improve.

Fixing credit reports must begin with a solid working plan that you are capable of adhering to. You have to stay focused and committed if you want to make concrete changes to your financial situation. Limit your purchases only to things that are absolutely necessary. Consider if a purchase is both essential and affordable, and only purchase it if you can answer “yes” on both counts.

You can lower your debt by refusing to acknowledge the part of your debt that has been accrued by significantly high interest rates. When a creditor hits you with incredibly high interest rates, you may have a case for negotiating to a lower amount. However, the contract you signed ensured that you agreed to pay off your interest. It is likely you can have exorbitant interest rates reduced if you sue the creditor.

Carrying a low credit score can make you feel negative toward many aspects of your life. Following these credit repair tips can inspire you to think differently and to take charge of improving your credit.

If your credit is such that you cannot get a new card to help repair it, apply for a secured one. Most likely, you will not have a problem obtaining this type of card, but you must add funds to the account before you make any purchases to assure the bank that you will pay. If you use a credit card responsibly, you will go a long way in repairing your credit.

02
Sep
2017

Don’t Be Fooled By So Called Credit Repair Experts

categories: Personal Finance

Credit repair might seem like a hard task because of the many resources available that are less than helpful. This article contains the information that will get you on the correct route to fixing your credit. Heed our advice, and you’re sure to lower your stress level.

When you want to fix your credit, you need to start somewhere. Have a realistic plan and stay with it. You must be committed to making real changes in the way you spend money. Stick to the essentials, and avoid frivolous purchases at all costs. Ensure that you can afford everything you buy and that you really need it.

Credit Score

If you need to repair your credit, the first step is to come up with a workable plan and stick to it. Be totally committed to changing your spending habits. Only purchase something if you cannot live without it. Before making any purchase, determine if it is within your means and if it is indispensable. Don’t buy the item unless you answer “yes” to both of these questions.

Maintaining a respectable credit score will enable you to obtain lower interest rates. By lowering your monthly payments, you’ll be able to reduce your debt more quickly. Obtaining the best possible interest rate saves you money, and helps you maintain your credit score.

If you want to avoid giving too much to your creditor, simply refuse to pay towards unfairly huge interest rates. It is bordering on illegal for credit card companies to charge you skyrocketed interest rates. However, you agreed to pay the interests off when you signed the contract. It is likely you can have exorbitant interest rates reduced if you sue the creditor.

When beginning your credit score improvement journey, remain wary of companies pledging to get negative credit report entries deleted, especially if those entries are accurate. These bad marks stay on your record for seven years or more. Be aware, however, that incorrect information can indeed be erased from your record.

Try to get a secured credit card if you are not eligible for an unsecured card. This will help you fix your credit. In order to get the card, you will have to fund the account as sort of an insurance that shows the bank your debts are going to be paid. Even though this card will be secured by your own money, you will make payments and manage it as if it were unsecured. This will improve your credit as you show yourself able to make the payments on time.

If an action can result in imprisonment, draw the line. There are various online scams that involve creating a fresh credit file. Do not think that you can get away with illegal actions. The legal proceedings will be costly, and you may even be sent to jail.

You can contact your creditors and request a lower limit. It will pay off in lowering the risk of excessive borrowing and reflecting good financial decision making on your behalf.

If you are doing hardcore credit score improvement, you need to scrutinize your report for negative entries. Although a certain credit item may not have any error, finding a mistake corresponding to a date or an amount can have the same item taken out of your report.

Your interest rate will be lower if you have a good credit score. Monthly payments are easier this way, and you can pay off your unpaid debt. Quickly paying off your debts is a good way to improve your credit score. This will give you access to more competitive rates in the future.

Hopefully, this information has helped you out. Use these tips so that once again, you can experience what it is like to take advantage of good credit. Ensure that you have plenty of patience. If you keep at it, you will have awesome credit again in no time.

18
Aug
2017

When You Want The Answers About Debt Consolidation, Read This Article

categories: Personal Finance

Do you know what debt consolidation is? You probably know the term, but not what it offers you. The following article will help teach you about debt consolidation. Read on to learn everything you need to know about debt consolidation. It will give you a lot of things you need to know so you’re able to make decisions that can assist you financially.

Think about bankruptcy instead. A bad mark will be left on your credit report whether you file a Chapter 7 or Chapter 13 bankruptcy. However, it is a solution for individuals who are already suffering from bad credit and in desperate need of financial repair. Filing Bankruptcy is an option if your financial situation is too far gone to recover, but the decision is not to be taken lightly.

Figure out how the interest rate is calculated when you’re getting into debt consolidation. Fixed interest rates are an ideal option. This helps you know what is to be paid throughout the life of your loan. Beware of adjustable interest rate debt consolidation plans. In the long run these options always end up costing much more due to the eventual high interest rates.

Do you have life insurance? Consider cashing out the policy, in order to meet the demands of your overwhelming debt. Talk to your insurance agent for more information. You can sometimes borrow a part of what you invested in your policy to pay your debt.

Debt Consolidation

Loans for debt consolidation shouldn’t adversely affect your credit score. A few debt reduction strategies do have adverse effects on your rating, but a debt consolidation loan is really just helping you lower your interest rate and minimize the total amount of bills you are paying. It’s a very powerful option, as long as your bills are paid on time.

Be on the look out for scam companies when you are looking for help with debt consolidation. An offer that looks good on the outside may be filled with hidden fees and charges. Question the lender closely, and don’t proceed until you feel comfortable with the information you have received.

Bankruptcy might be an option for you. A bankruptcy, regardless of type, will leave a stain on your credit report. Although you’ll receive a bad mark, bankruptcy may benefit you if you cannot pay your debt off. If you cannot make payments, your credit is probably not the greatest and a bankruptcy won’t make it much worse. You can get your financial house in order by clearing the decks and starting fresh with a bankruptcy.

Debt Consolidation

After reading the above information, you should have a much better understanding of how debt consolidation works. Keep finding out more about debt consolidation and learn about the specifics of it before doing it yourself. This will help you to make a sound financial decision and manage your debt in a responsible way.

14
Aug
2017

Repair Your Troubled Credit Score Using These Excellent Tips

categories: Personal Finance

Bad credit can add salt to an economic wound. Low credit scores can bring to mind memories of hard times in your life and past mistakes which were made, and these reminders can hinder your progress in moving ahead in life. Fortunately, there are things that you can do to repair your credit and the information below may be able to help you do just that.

If credit score improvement is your goal, create a plan and stick with it. You must be willing to implement changes and stick with them. If you don’t need something, don’t buy it. Put each potential purchase to the test: is it within your means and is it something that you really need?

When you have better credit, you will be offered lower interest rates on loans and credit cards. Doing this can reduce monthly payments, which will assist you in paying off any outstanding debts faster. Make sure to use a company that gives you the best rates so your bill isn’t being built up by money you haven’t even spent.

Fixing credit reports must begin with a solid working plan that you are capable of adhering to. Making changes to become a wise spender means you have to make a budget and rules, then follow them. Don’t buy the things that aren’t needs. Before you open your wallet ask the questions “do I need this?” and “can I afford this?” If the answer is no to either, put it back on the shelf.

Credit Score

With a good credit score, you can easily buy a house and mortgage it. When your mortgage is paid in full, you will be rewarded with increased scores on your credit file. When you are a home owner you will be financially stable based on what you own. A good credit score is necessary when you need to take out a loan.

If you want to avoid giving too much to your creditor, simply refuse to pay towards unfairly huge interest rates. Creditors are skirting aspects of the law when they hit you with high interest rates. Remember that you agreed to pay that interest when you signed the contract. Your interest rates should be regarded as too high if you plan on suing your creditors.

If your credit is top-notch, getting a mortgage is a simple matter. Fulfilling your mortgage obligation in a timely fashion does a great deal of good for your credit rating. Home ownership also means you have assets that you can rely on to increase your credit score. Having a home also makes you a safer credit risk when you are applying for loans.

To start fixing your credit, you will have to pay your bills. Your bills must be paid completely and on time. Once you start paying your past bills off, you will notice an immediate improvement in your credit.

Always do research before contracting a credit counselor. There are some counselors that are real, while others are basically scammers. Other options are clearly scams. You should research any counseling service you are considering prior to initiating communications with them.

Learn what affect a debt settlement plan will have on your credit rating before you sign up. Research all of your options, make an informed decision about the method you chose, and only then should you agree to the settlement. Remember creditors want their money. They really don’t care about your credit scores. That is up to you to protect.

Never trust a business or person who offers to clear up your credit for a price. Especially if it is correct information they say they can remove. These things are, generally, on your record for seven years. It is possible to have erroneous information removed from your report, however.

If you are trying to improve your credit score but are having difficulty gaining access to new credit in order to do so, join a credit union. Credit unions have opportunities that are better than other places and are usually local.

Having a poor credit score can make you have negative feelings about your finances. If you follow these tips, you will be well on your way to improving your credit.

11
Aug
2017

Credit Card Tips You Need To Know About

categories: Personal Finance

If you’ve been looking for a great way to rebuild that poor credit rating, then a credit card might just be the perfect way to do it. You should understand the advantages and pitfalls of having access to easy credit. The following article contains helpful tips on making wise decisions.

Anyone who is in the market for new credit cards is wise to look for cards with no annual fee and low interest rates. With so many cards out there that don’t require an annual fee, getting one with an annual fee is simply a waste of money.

When signing credit card receipts in stores, don’t leave blank spaces. Always strike out the tip line in order to prevent others from filling in an amount of their choosing. You must also review statements regularly to verify the accuracy of charges to your account.

Many consumers improperly and irresponsibly use credit cards. While everyone gets into debt at times, some people use the credit that they have access to in an irresponsible manner and end up in huge amounts of debt with too-high payment obligations they cannot meet. Ideally, you should pay off your balance in full every month. That way you can use credit, keep your balance low and improve your credit.

If someone calls requesting your card number, don’t give it to them. Scammers commonly use this ploy. Only give your card number to businesses you can trust. Don’t give them to individuals who call you. This is a fairly common practice used by thieves and the caller usually is not who they say they are.

Interest Rates

Don’t believe that interest rates they offer you are concrete and are staying that way. The credit card business is a competition. Therefore, all card companies have varying interest rates they can utilize. If you’re unhappy with your rate of interest, contact your bank and tell them you would like them to lower it.

Make it your goal to never pay late or over the limit fees. Both are expensive fees and exceeding your limit can also hurt your credit score. Don’t pass your credit limit or you will suffer.

Lots of people think that not having credit cards gives them an edge. However, in order to build your credit you need at least one card. Use your card regularly, and pay the full balance every month. If you have no credit history, your credit score will be low and possible lenders will not have the assurance you can handle debt.

When you have a credit card account, the best practice is to keep it open for the longest possible amount of time. You don’t want to go to a different account. This should happen only when you really need to. A longer history on an account will benefit your credit score. Another element to establishing credit is to maintain and keep you credit accounts open and active at all times.

Try avoiding paying for your restaurant bills on your card since it will take a while to show up and shock you a few days later. This can lead to you spending more money since you will have the perception that your balance is actually lower than it is.

Understand the terms and conditions for any credit card prior to agreeing to the use of the card. Fees and interest rates may be more than you feel is acceptable. Carefully go over everything in your policy, including the fine print, and ensure you understand what it means.

As was mentioned earlier, bank cards can be a great tool for managing finances. It is important that you understand everything about your cards, because that will lead you to make better decisions where they are involved. Grasping the fundamental information about credit cards can assist consumers in making smart credit choices, too.

05
Aug
2017

Ideas To Consider When Using Your Bank Cards

categories: Personal Finance

These days, people need as much help as possible when it comes to finance management. Charge cards are really useful, but they might also cause a lot of debt! Continue reading for some great credit card tips.

Make sure you know your card’s interest rate. This is information that you should know before signing up for any new cards. When you lack this knowledge you find yourself paying much more in interest than you anticipated. If you end up paying more, it is possible that you will be unable to repay the balance every month.

Credit Card

When it comes to premium credit cards, find out if an annual fee is involved to make sure that you do not pay too much for the card. Some exclusive credit cards require you to pay between $100 and $1,000 per year to keep the card, depending on exactly how exclusive the card is. Unless you have some specific need for exclusive credit cards, remember this tip and save yourself some money.

Pay 100% of your credit card bill each month if you can afford it. In a perfect world, you shouldn’t carry a balance on your credit card, using it only for purchases that will be paid off in full monthly. Your credit score benefits from the credit card use, and you won’t have finance charges if paid in full.

Keep the company that your card is through in the loop if you anticipate difficulty in paying off your purchases. When you fear you must pay late, talking things out with your company ahead of time often results in an offer of help from them. This communication may keep the company from filing a late payment report with creditreporting agencies.

Credit Card

Minimum payments are computed to extend the length of time it takes to pay off your credit card balance. Every dollar over your minimum payment goes to pay off your balance, so always pay a higher amount than the credit card company asks you to pay. Minimize the amount of interest you end up paying.

It is normally a bad idea to apply for a credit card as soon as you become old enough to have one. Most people do this, but your should take a few months first to understand the credit industry before you apply for credit. Learn more about adult life and adult responsibilities before getting a credit card, rather than impulsively signing up for a card.

A credit card should not be used for purchases you cannot afford. Even if you want a high-priced item, it’s not worth going into debt in order to get it. High monthly payments, along with months or years of finance charges, can cost you dearly. Slow down and think things over before deciding whether to buy an expensive item on credit. If you still plan to buy it, the store’s in-house financing usually offers lower interest rates.

As stated before, consumers often feel alone in the world of finances, and that can put them at risk for charge cards with high interest rates! Hopefully, the advice in this article has showm you how you can wisely use your credit cards and given you the information that you need to help with your financial success.

Make it your goal to never pay late or over the limit fees. Both are pretty steep, and the cost of going over the limit can not only affect your wallet but also your credit report. Watch your spending so you don’t exceed the credit limit.

24
Jul
2017

Simple Tips To Repair Your Credit

categories: Personal Finance

Knowing how much was owed, as well as to whom, could have helped you avoid the downgrading of your credit score. It’s now time to buckle down and fix your credit. Follow this advice to improve your credit score quickly.

If you have a poor credit rating, it can be extremely difficult to obtain a mortgage loan for a home. You should consider getting a FHA loan they are backed by the government. It might be possible to get an FHA loan even if you don’t have the money for a down payment or the closing costs involved.

If you can’t get a normal card due to low credit score, look into a secured card. With a secured card, you have to fund your account before you use the card so that the bank will be assured that you will pay off your debts. Using this card responsibly will improve your credit rating over time, and eventually you’ll be able to get a normal credit card again.

Any of your credit cards with balances that are above 50% of your overall limit need to be paid off as soon as possible, until the balance is less than 50%. Your credit score can diminish with balances over 50%, so spread out the debt or pay off the credit cards.

Interest Rates

Paying off any debts you have that have high interest rates can help you to avoid paying too much. It is bordering on illegal for credit card companies to charge you skyrocketed interest rates. However, you have entered into a legal agreement that requires you to pay accrued interest. You need to be able to prove the interest rates are too high if you want to sue your lenders.

Before you agree on an agreement for settling your debt settlement, you should determine what affect this will have on your credit score. There are ways that are less damaging than others, that is why it is important to research about it before starting an agreement with creditors. They do not worry about how your credit score looks; they want to get money.

You can get better interest rates on credit cards and loans when you have a good credit score. By lowering your monthly payments, you’ll be able to reduce your debt more quickly. Get a good offer along with good rates, and you’ll have credit that you can pay off easily, and improve your credit score.

Read your negative reports carefully when attempting to rebuild your credit. The item may be essentially correct, but there may be an error someplace. If the date or amount, or some other thing is incorrect it may be possible to get the entire item removed.

As you can plainly see here in this article, getting out of debt and repairing your credit score is more about common sense than you may have realized. By following the information here, you will be able to finally get your credit repaired.

16
Jul
2017

Fix Your Credit With These Easy Tips

categories: Personal Finance

The most annoying thing you may experience in life is having bad credit, because it leads to hardships. It can limit your financial choices and keep you from taking part in good opportunities. However, a few simple steps can be taken back in the direction of a good score.

Planning is the first step to repairing your credit. Be totally committed to changing your spending habits. Just buy what you need, and forget unnecessary purchases. Ensure that you can afford everything you buy and that you really need it.

Try to get a secured credit card if you are not eligible for an unsecured card. This will help you fix your credit. These types of credit cards often require a good faith deposit to open a new account. If you show a good history of payments with this card, it will help improve your credit standing.

If your credit is not perfect, getting a mortgage can be tricky. If possible, apply for an FHA loan; these loans are backed by the United States government. If you do not have a down payment or money for closing, consider a FHA loan

Credit Cards

If you have credit cards with balances that are greater than fifty percent of the maximum, you should pay those down as quickly as possible. It’s best to keep all of your credit cards below the fifty percent mark! Your credit score can be negatively impacted if you are carrying a large balance compared to the available credit you have. While you are paying off these cards, reduce the balance to a small percentage of your available limit.

The higher your credit score, the lower the interest rate that you can obtain will be. You’ll be able to make your payments more easily and get your debt paid off quickly. Getting better interest rates leads to an easily maintainable good credit score.

When you want to fix your credit, you need to start somewhere. Have a realistic plan and stay with it. However, if you are not prepared to alter bad habits regarding your spending, nothing will ever change. Only the necessities can be purchased from here on in. Before you open your wallet ask the questions “do I need this?” and “can I afford this?” If the answer is no to either, put it back on the shelf.

If your creditors try to jack up your interest rates, do not pay them. In many situations, exorbitant fees and penalties can be challenged. On the other hand, you’re likely bound by a contractual agreement to pay any interest charged by lenders. If you choose to bring a lawsuit against your creditors, use the high interest rates against them.

When you’re looking to fix your credit, be cautious of credit improvement companies. They may tell you they can remove negative information, but if it’s correct, it can not be removed. Unfortunately, negative marks will stay on your record for seven years. You should know that mistakes and anything incorrect can be removed from your credit report.

To start fixing your credit, you will have to pay your bills. You need to pay your bills off on time; this is very important. After you have paid off some old bills, you will see an immediate improvement in your credit rating.

If you can’t get a normal card due to low credit score, look into a secured card. When you open a secured credit card account, you place money on deposit to cover any charges you may make. This ensures in advance that you will have enough money to pay for your debt. A responsibly used new credit card will begin healing your credit score.

Credit Score

The tips you just read are just a few simple strategies you can employ to rebuild your credit and keep it squeaky clean going forward. Having a high credit score is essential in many ways, so it is important to be well-informed about credit score improvement.

15
Jul
2017

Have Debt Consolidation Questions? Get Your Answers Here

categories: Personal Finance

If you use debt consolidation, you can get out from under your debt relatively quickly. Even though debt consolidation cannot help you through every financial problem, it can be of great assistance to you in resolving your debt. If you are falling behind in your bills, continue reading for excellent advice about debt consolidation.

When considering your choices for consolidating your debts, keep in mind that even a company who claims to be a non-profit will have substantial fees associated with their service. It could come as a big surprise when this seemingly innocent term results in an unfavorable consolidation deal for you. Try to seek out a personal recommendation or look up companies on the BBB website.

Consider your best long term options when choosing a company to consolidate your debts. You need to deal with your debts today, but you need a company which will continue to work with you into the future. They may be able to help you avoid getting back into a financial mess by offering some other financial counseling services.

Never go with a debt consolidation company just because they claim non-profit status. Though it may surprise you, non-profit is not necessarily indicative of quality. To determine if a company is reputable and high-quality, research the company’s standing with the BBB (Better Business Bureau).

Avoid choosing a debt consolidation company only because they are non-profit. Non-profit does not equate to good business practices. Always research any company at the website of the BBB, or Better Business Bureau.

Borrowing money can be a good way to pay your debt off. Talk to a bank or other lender in order to learn about the specific interest rates you may be eligible for. Perhaps you could use your car as loan collateral and repay more urgent debts with the loan funds. Never repay a loan late.

Interest Rate

Think about bankruptcy instead. This option can negatively effect your credit, and you should be aware of that. But, failure to make payments on your debt consolidation arrangements will also spoil your credit profile. A bankruptcy filing will help you reduce debt and regain financial control.

See a company comes up with the interest rate for your debt consolidation. Fixed interest rates are an ideal option. This helps you know what is to be paid throughout the life of your loan. Be aware of any sliding interest scales. Do not accept a debt consolidation loan if its terms include an adjustable interest rate.

When you’re thinking about debt consolidation, consider how you first put yourself in this position. The last thing you want is to repeat the behavior that got you into this mess. You must learn how this occurred to you now so that you can implement measures to prevent it in the future.

To get rid of debt quickly and simply, check out debt consolidation. After the tips you’ve just read over, you shouldn’t have any problems getting the debts you have consolidated into one payment so you’re able to get away from debt. Think about what has been told to you in this article so you can eliminate your debt.

Look at how your debt consolidation interest rate is formulated. Fixed interest rates are an ideal option. You know exactly what you are paying for the entire life cycle of the loan. Be wary of debt consolidation programs that offer adjustable interest rates. They end up getting higher and higher, leaving you unable to pay.