Do you have life insurance? Considering cashing in on your policy to pay off your debt

Do you have life insurance? Considering cashing in on your policy to pay off your debt. Get in touch with your insurance agent and determine the amount of money you can obtain against your policy. You can borrow back a portion of your investment to pay off your debt.

To help you consolidate your debts consider borrowing against your 401k plan. Many employers allow employees to take a loan out against their retirement plans. One of the benefits to this is that you pay the money back to yourself. The interest rates are generally very low and the interest paid also goes back into your account.

If you own a home, boat, motorcycle, or the like with a clear and free title, you may be able to use a title loan. Be sure that you are getting the rate that you want. Make sure you understand the terms so that you know whether you get to keep your property or if it's turned over to the lender for your term of loan. Understand your payment schedule, as failing to meet them can terminate the ownership of your property.