You may be able to lower your cost of debt by consolidating your debt through a second mortgage or a home equity line of credit. Think carefully before taking this on. These loans require your home as collateral. If you can't make the payments or if the payments are late you could lose your home.

The costs of these consolidation loans can add up. In addition to interest on the loan, you pay "points." Typically, one point is equal to one percent of the amount you borrow. Still, these loans may provide certain tax advantages that are not available with other kinds of credit.

Debt Consolidation is the process were you negotiates with your creditors to lower your monthly payments, sometimes as much as 50%

Type if debts

• Credit cards
• Department stores charge card
• Hospital and medical bills
• Banks and finance companies [mortgage, loans]
• Personal unsecured loans
• Taxes due to IRS - internal revenue service
• Unsecured debt, cash that is borrow on a problem that you will pay back.
• Auto Loans
• Idebthelp Debt Consolidation Services