Best options for consolidating credit card debt
So you’re trading the discomfort of card bills for the possibility of losing your home.
It also often takes longer to get a 2nd mortgage — a few weeks to a few months, he says.
So it’s smart to be cautious if this is your plan for debt consolidation.
Here are the 5 best options for debt consolidation of credit cards, along with some advantages and drawbacks of each.Drawbacks: Before applying, ask about balance-transfer limits and fees, says Celeste Collins, executive director of On Track Financial Education & Counseling.