Consolidating debt home equity line
This debt consolidation calculator is designed to help determine if debt consolidation is right for you.
Fill in the loan amounts, credit card balances and other outstanding debt.
Home equity loans can be used to consolidate account balances from multiple credit cards or installment loans into a single loan, while offering the added benefit of consolidating multiple payments into a single monthly payment.
Using home equity for debt consolidation can be beneficial if the repayment period for paying off the home equity loan is shorter than it would be for your existing debts, or, if the interest paid over the repayment period is less than what you would pay without consolidating your debt.
Use the Mid First Bank Consolidating Debt with Home Equity Calculator to determine if consolidating your debt is the right choice.
As federal courts have exclusive jurisdiction over bankruptcy laws, cases must be filed in federal bankruptcy court.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.If you're unable to pay your creditors, filing for bankruptcy can help you get a fresh start by liquidating your assets to pay off your debts or create a payment plan.