Carrying debt can be stressful, plus the interest you’ll pay on your balance can create financial strain.
Debt shifting is a strategy to make it easier to repay your debt faster; but, like all debt repayment strategies, you need to understand the pros, cons and potential pitfalls to determine if this repayment method is the right choice for you.
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How Debt Shifting Works
Debt shifting is a strategy that makes it easier to pay down your existing balance. By shifting your debt onto a new account that has a lower interest rate or more relaxed repayment terms, you can save on interest and put more of your…