Debt Consolidation without a loan is an innovative solution by In Charge Debt Solutions.We take the work out of debt management through debt consolidating: combining your payments into a single, predictable monthly payment. The average credit card interest rate is around 15% APR.One is to consolidate all their credit card payments onto one new credit card – which can be a good idea if the card charges little or no interest for a period of time – or utilize an existing credit card's balance transfer feature (especially if it's offering a special promotion on the transaction).Home equity loans or home equity lines of credit are another form of consolidation sought by some people, as the interest on this type of loan is deductible for borrowers taxpayers who itemize their deductions.Consolidating all your debts into one loan might appear to make life easier but there might be better ways to pay off debts.Find out more about how debt consolidation loans work, then get free debt advice before you make a decision.

Debt consolidation involves taking out new credit to pay off your debts and debt management is where you negotiate affordable payments with the companies you currently owe money to.Debt consolidation offers debt relief by consolidating your monthly debt payments into one affordable payment.Debt consolidation programs are offered by debt consolidation companies and by nonprofit credit counseling agencies.Both can lead to lowering payments but are completely different ways of dealing with debt.If you're not sure which option suits your circumstances then we can help.While consolidating debt often sounds like a promising solution, this could make your situation worse.Consolidating debt usually involves taking out new credit to pay off existing credit.If you can’t stop spending on credit cards, for example because you’re using them to pay household bills, this is a sign of problem debt.You should get free debt advice before taking out a debt consolidation loan.Other benefits may include lower interest rates from your creditors, waived fees, stopping the collection calls and paying off your debt faster than on your own. She graduated with a small balance on two cards: 00.Here are five reasons you should consider In Charge debt consolidation: According to data from the Federal Reserve, approximately 37% of Americans carry a credit card debt balance from month to month. As a new teacher, Anne signed up for 2 more credit cards at her favorite clothing stores to pay for a professional wardrobe, accumulating 00 more in debt.There are also several consolidation options available from the federal government for those with student loans.Theoretically, any use of one form of financing to pay off other debts is practicing debt consolidation.Consumers can use debt consolidation as a tool to deal with student loan debt, credit card debt and other types of debt.There are several ways consumers can lump debts into a single payment.