Consolidation Options
| Method | Rate | Best For |
|---|---|---|
| Balance transfer | 0% intro | Good credit, <$10k |
| Personal loan | 8-20% | Fixed payments |
| Home equity | 7-9% | Homeowners, large debt |
| 401k loan | ~6% | Last resort only |
When It Makes Sense
Good idea if:
- Lower rate than current debt
- Can afford payments
- Won't rack up new debt
- Saves significant money
- Extends payoff significantly
- Puts home at risk
- Doesn't address spending