Inventory All Debts
1 hourList every balance, APR, minimum payment, and remaining term across credit cards, personal loans, and medical bills.
Field context
This workflow is part of 3 niche fields
Free step-by-step debt consolidation for multi-debt holders. Plan debt consolidation with calculators and checklists covering inventory all debts, compare.
List every balance, APR, minimum payment, and remaining term across credit cards, personal loans, and medical bills.
Evaluate balance transfer cards (0% intro APR), personal consolidation loans, and home equity options side by side.
Apply for the best option, pay off old debts immediately, and close or freeze paid-off accounts to prevent re-accumulation.
Apply the payment savings toward the consolidated balance and target debt-free date within 24-36 months.
Compare avalanche vs snowball payoff timelines.
Model consolidation loan payments and total interest saved.
Calculate effective APR including balance transfer fees.
Free up cash flow for accelerated debt payments.
US debt consolidation methods ranked by typical savings.
| Method | Typical APR | Risk |
|---|---|---|
| Balance transfer | 0% for 12-21 mo | Re-spending on old cards |
| Personal loan | 6-18% | Origination fees |
| Home equity | 7-9% | Home as collateral |
Converting unsecured credit card debt to a home equity loan puts your house at risk for discretionary spending.
0% balance transfer APRs revert to 20%+ after the intro period — have a payoff plan before applying.
Many US hospitals offer 0% payment plans or charity care — consolidate medical bills only after negotiating.