Axcel Today Blog

As I found out the hard way when I refinanced my home a few years ago, a loan doesn’t solve money problems.  Behavior needs to change when you get a loan.  For anyone considering some sort of debt consolidation,  I would suggest that you not use the equity in your home, but rather take out a separate loan, and never consider doing a consolidation without some sort of credit counseling as well. Just wiping out the debt doesn’t do much good if you are just going to create the same debt on top of the consolidation loan and the mortgage.  That’s a recipe for disaster.

This entry was posted on Thursday, February 18th, 2010 at 11:10 am and is filed under Business. Both comments and pings are currently closed.