Q: Can I consolidate my debt even if I don't own a home?

A: Yes. Although home equity loans and home equity lines of credit are two of the most popular methods of debt consolidation, they certainly aren't the only options. There are "unsecured" debt consolidation loans available, although they carry with them higher interest rates. And there are other techniques for consolidating one's debts that have nothing to do with borrowing, such as using a credit counselor to establish a debt management plan (DMP).

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Please Note: Unsecured debts are debts such as credit cards, personal loans, lines of credit, store cards, medical bills, and utility bills that are not secured by collateral. Mortgages and car loans are NOT considered unsecured debt.
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