Consolidating debt with mortgage
Everybody`s situation is different and it would be foolish to say that the solution for each individual would be the same.
By doing this, you will release some of the equity that you have, giving you a lump sum that you can use to pay off the money that you are owing.
You will then be left with either the single loan repayments, or mortgage repayments to pay every month.
This not only could work out better for you financially but may also be a lot easier to organise.
For people who own their own home, however there may be a possible alternative solution.
By either taking out a secured personal loan, or a remortgage for debt consolidation, you can use equity from your home to help you to pay off your debts.