Do you want to consolidate your debt? Regardless if it is credit cards, student loans or car loans you can save a lot of money every month when you consolidate debt into one low payment.

Not stop making payments during the refinance process. Missing a payment can drastically lower credit scores, which can potentially cause the new loan to be denied. Always pay all bills as they become due. If part of the loan proceeds is used to consolidate debts, any payments made since loan submission will be reflected in the final pay-off amounts.

Generally, the interest you pay on an equity line of credit is tax deductible. This can help around tax time when you are itemizing your deductions to get more money back. Therefore, an equity line of credit may be well worth obtaining to consolidate debt and turn the interest you are paying into a tax deduction.

When you refinance and take cash out to pay off your bills and consolidate debt, not only do you save the trouble and expense of writing and mailing all those different checks each month to all of your different creditors, you also can save up to 50% or more off of your current total monthly expenses. This puts money in your pocket each month, and can save you thousands of dollars each year.