How much debt should you have before considering debt consolidation?
Question:
Answer:
The amount is not as important in deciding whether to consolidate. Rather, it can determine the types of consolidation to pursue.
Low amounts of less than $4,000 may be ideal for personal loans through banks and credit unions (not high priced finance companies). High amounts of $40,000 or more may be better served by home equity loans. Anything in between may need credit counseling.
Additionally, if you have poor credit, you may also be limited to credit counseling rather than loan options.
I think it's 8K.
If you are even asking the question then you are there buddy.
Here is a complete guide to debt consolidation
http://finance-information.blogspot.com/...
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