According to the Federal Reserve, Americans carry around $5,800 in credit card debt from month to month. Making the minimum monthly payment on that debt would take 30 years to pay off, and include an additional $15,000 in interest. According to the Administrative Office of the Courts, 2,078,415 bankruptcies were filed in 2005–the largest number of bankruptcy petitions in the history of the federal courts. With the new tougher bankruptcy laws, people are looking for alternative ways of managing their debts.Debt consolidation loans are a popular way for people to free up money each month by consolidating several monthly credit card payments into a single lower interest loan. But, the question is whether it’s best to consolidate those debts into a home equity loan or an unsecured debt consolidation loan.Debt Consolidation Home Equity LoansA home equity loan is a one-time lump sum of money you receive in the form of a second mortgage that is secured by the equity in your home. Equity is the difference between how much the home is worth and how much altogether you own on it.A second mortgage loan is usually a fixed interest loan with rates that runs slightly higher than those of a first mortgage loan, unless it’s a 125% Loan To Value (LTV) loan that allows homeowners to borrow beyond the value of their homes. Those rates usually run much higher that other second mortgages and origination fees can be as much as 10% of the loan balance.Home equity loans usually are repaid in a shorter time than first mortgages, with repayment periods typically being between 5 and 20 years. Like a first mortgage, you have to pay off the balance of a home equity loan when you sell your home, so it’s best to find out if there are any prepayment penalties or balloon payments on your loan in case you decide to pay the loan early or sell your house before the loan matures.Benefits and Drawbacks of Home Equity LoansThe main benefit of a debt consolidation home equity loan is that most states allow you to deduct up to 100% of the interest you pay on your taxes. Other benefits include the fact that home equity loans typically have a lower interest rate than unsecured loans, and borrowers can get relatively large amounts of money.While home equity loans have attractive benefits, there are also major drawbacks. One is that if you fail to meet the payment schedule required by the loan, the lender can foreclose on your home and you will lose it even if you go into bankruptcy. Secured loans are not dischargeable by Chapter 7 bankruptcy.Another major drawback is that exploitative lenders target homeowners, especially those with low incomes or poor credit. According to the Federal Trade Commission (FTC), there are many predatory scams, including:· Equity Stripping: The loan is based on the equity in your home, not on your ability to repay it.· Credit Insurance Packing: The lender adds credit insurance to your loan, which you may not need.· Bait and Switch: The lender offers one set of loan terms when you apply, then pressures you into higher charges when you sign to complete the transaction.· Deceptive Loan Servicing: The lender doesn’t provide you with accurate or complete account statements and payoff figures. That makes it nearly impossible for you to determine how much you’ve paid and how much you owe.If you are not sure whether a home equity loan is right for your needs, you may want to consider an unsecured personal debt consolidation loan.Personal Unsecured Debt Consolidation LoanIf your credit is relatively good, and you are employed, you may be able to obtain an unsecured personal loan to pay off some or all of your high-interest credit card debts. With a personal unsecured debt consolidation loan, there is no collateral against the loan. This means that the lender is relying only on your promise to repay the loan according to the loan’s terms and conditions. While the loan amounts are not as much as those of debt consolidation home equity loans, they can amount up to $10,000. Loans up to $1,000 may not even require a credit check.When shopping for a personal unsecured debt consolidation loan, it is important to shop around for the best rates and loan terms. Unsecured debt consolidation loans have lower interest rates than credit cards, but they generally have higher interest rates than secured personal loans like home equity loans. Some loans allow you to take anywhere from one to five years to repay, which can ease financial stress.Benefits and Drawbacks of Personal Unsecured Debt Consolidation Loans
The main benefit of getting an unsecured debt consolidation loan is that if you are forced into bankruptcy, the unsecured debt may be discharged in the bankruptcy proceedings.The main drawback is that you must have good to excellent credit to get an unsecured debt consolidation loan, and the loan amounts are typically less than a home equity loan. The interest rates on unsecured debt consolidation loans are typically much higher than that of a home equity loan, and it is not unusual for a debt consolidator to obtain a commission of 10% or more on your new loan.In ConclusionThe answer to the question of whether you should get a debt consolidation home equity loan or unsecured personal loan all depends on your financial circumstances. If you have relatively good credit, are employed and only a few debts you need to consolidate, you may benefit from getting an unsecured personal loan. However, if your credit is not so good or you have a lot of debts, a home equity loan may your best answer.

Your stocks to watch for the week ahead are Cheniere Energy (LNG), S&P 500 biotech giant Vertex Pharmaceuticals (VRTX), Cardinal Health (CAH), Steel Dynamics (STLD) and Genuine Parts (GPC).

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While the market remains in correction, with analysts and investors wary of an economic downturn, these five stocks are worth adding to watchlists. S&P 500 medical giants Vertex and Cardinal Health have been holding up, as health-care related plays tend to do well in down markets.

Steel Dynamics and Genuine Parts are both coming off strong earnings as both the steel and auto parts industries report optimistic outlooks. Meanwhile, Cheniere Energy saw sales boom in the second quarter as demand in Europe for natural gas continues to grow.

Major indexes have been making rally attempts with the Dow Jones and S&P 500 testing weekly support on Friday. With market uncertainty, investors should be ready for follow-through day breakouts and keep an eye on these stocks.

Cheniere Energy, Cardinal Health and VRTX stock are all on IBD Leaderboard.

Cheniere Energy Stock
LNG shares rose 1.1% to 175.79 during Friday’s market trading. On the week, the stock advanced 3.1%, not from highs, bouncing from its 21-day and 10-week lines earlier in the week.

Cheniere Energy has been consolidating since mid-September, but needs another week to forge a proper base, with a potential 182.72 buy point formed on Aug. 10.

Houston-based Cheniere Energy was IBD Stock Of The Day on Thursday, as the largest U.S. producer of liquefied natural gas eyes strong demand in Europe.

Even though natural gas prices are plunging in the U.S. and Europe, investors still see strong LNG demand for Cheniere and others.

The U.K. government confirmed last week that it is in talks for an LNG purchase agreement with a number of companies, including Cheniere.

In the first half of 2021, less than 40% of Cheniere’s cargoes of LNG landed in Europe. That jumped to more than 70% through this year’s second quarter, even as the company ramped up new export capacity. The urgency of Europe’s natural gas shortage only intensified last month. That is when an explosion disabled the Nord Stream 1 pipeline from Russia that had once supplied 40% of the European Union’s natural gas.

In Q2, sales increased 165% to $8 billion and LNG earned $2.90 per share, up from a net loss of $1.30 per share in Q2 2021. The company will report Q3 earnings Nov. 3, with investors seeing booming profits for the next few quarters.

Cheniere Energy has a Composite Rating of 84. It has a 98 Relative Strength Rating, an exclusive IBD Stock Checkup gauge for share price movement with a 1 to 99 score. The rating shows how a stock’s performance over the last 52 weeks holds up against all the other stocks in IBD’s database. The EPS rating is 41.

Vertex Stock
VRTX stock jumped 3.4% to 300 on Friday, rebounding from a test of its 50-day moving average. Shares climbed 2.2% for the week. Vertex stock has formed a tight flat base with an official buy point of 306.05, according to MarketSmith analysis.

The stock has remained consistent over recent weeks, while the relative strength line has trended higher. The RS line tracks a stock’s performance vs. the S&P 500 index.

Vertex Q3 earnings are on due Oct. 27. Analysts see EPS edging up 1% to $3.61 per share with sales increasing 16% to $2.2 billion, according to FactSet.

The Boston-based global biotech company dominates the cystic fibrosis treatment market. Vertex also has other products in late-stage clinical development that target sickle cell disease, Type 1 diabetes and certain genetically caused kidney diseases. That includes a gene-editing partnership with Crispr Therapeutics (CRSP).

In early August, Vertex reported better-than-expected second-quarter results and raised full-year sales targets.

S&P 500 stock Vertex ranks second in the Medical-Biomed/Biotech industry group. VRTX has a 99 Composite Rating. Its Relative Strength Rating is 94 and its EPS Rating is 99.

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Cardinal Health Stock
CAH stock advanced 3.2% to 73.03 Friday, clearing a 71.22 buy point from a shallow cup-with-handle base and hitting a record high. But volume was light on the breakout. CAH stock leapt 7.3% for the week.

Cardinal Health stock’s relative strength line has also been trending up for months.

The cup-with-handle base is part of a base-on-base pattern, forming just above a cup base cleared on Aug. 11.

Cardinal Health, based in Dublin, Ohio, offers a wide assortment of health care services and medical supplies to hospitals, labs, pharmacies and long-term care facilities. The company reports that it serves around 90% of hospitals and 60,000 pharmacies in the U.S.

S&P 500 stock Cardinal Health will report Q1 2023 earnings on Nov. 4. Analysts forecast earnings falling 26% to 96 cents per share. Sales are expected to increase 10% to $48.3 billion, according to FactSet.

Cardinal Health stock ranks first in the Medical-Wholesale Drug/Supplies industry group, ahead of McKesson (MCK), which is also showing positive action. CAH stock has a 94 Composite Rating out of 99. It has a 97 Relative Strength Rating and an EPS rating of 73.

Steel Dynamics Stock
STLD shares shot up 8.5% to 92.92 on Friday and soared 19% on the week, coming off a Steel Dynamics earnings beat Wednesday night.

Shares blasted above an 88.72 consolidation buy point Friday after clearing a trendline Thursday. STLD stock is 17% above its 50-day line, definitely extended from that key average.

Steel Dynamics’ latest consolidation could be seen as part of a larger base going back six months.

Steel Dynamics topped Q3 earnings views with EPS rising 10% to $5.46 while revenue grew 11% to $5.65 billion. The steel producer’s outlook is optimistic despite weaker flat rolled steel pricing. STLD reports its order activity and backlogs remain solid.

The Fort Wayne, Indiana-based company is among the largest producers of carbon steel products in the U.S. It engages in metal recycling operations along with steel fabrication and produces myriad steel products.

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STLD stock ranks first in the Steel-Producers industry group. STLD stock has a 96 Composite Rating out of 99. It has a 90 Relative Strength Rating, an exclusive IBD Stock Checkup gauge for share-price movement that tops at 99. The rating shows how a stock’s performance over the last 52 weeks holds up against all the other stocks in IBD’s database. The EPS rating is 98.

Genuine Parts Stock
GPC stock gained 2.8% to 162.35 Friday after the company topped earnings views with its Q3 results on Thursday. For the week GPC advanced 5.1% as the stock held its 50-day line and is in a flat base.

GPC has an official 165.09 flat-base buy point after a three-week rally, according to MarketSmith analysis.

The relative strength line for Genuine Parts stock has rallied sharply to highs over the past several months.

On Thursday, the Atlanta-based auto parts company raised its full-year guidance on growth across its automotive and industrial sales.

Genuine Parts earnings per share advanced 19% to $2.23 and revenue grew 18% to $5.675 billion in Q3. GPC’s full-year guidance is now calling for EPS of $8.05-$8.15, up from $7.80-$7.95. The company now forecasts revenue growth of 15%-16%, up from the earlier 12%-14%.

During the Covid pandemic, supply chain constraints caused a major upheaval in the auto industry, sending prices for new and used cars to record levels. This has made consumers more likely to hang on to their existing vehicles for longer, driving mileage higher and boosting demand for auto replacement parts.

Fellow auto stocks O’Reilly Auto Parts (ORLY) and AutoZone (AZO) have also rallied near buy points amid the struggling market. O’Reilly reports on Oct. 26.

IBD ranks Genuine Parts first in the Retail/Wholesale-Auto Parts industry group. GPC stock has a 96 Composite Rating. Its Relative Strength Rating is 94 and it has an EPS Rating of 89.

Another great part of experiencing classic English country towns is going out and traveling and touring through Bude, Cornwall. Sitting on the very topside at the mouth of the Cornwall peninsula, the seaside resort of Bude is a small, quaint town of approximately 9,000 people. It started its life as a harbor town, naturally enough, only later changing to the role it now plays today in Cornwall’s tourist industry.Bude has an interesting history, which included its popular use as a source of sea sand that was collected and then used to stabilize and improve various English moors. In the Victorian Era, it became a well-known stopover, and then a seaside holiday destination for most of the 20th century.The coastal scenery in the Bude area is impressive, indeed. In the 1800s, it was well-known to mariners, who were advised to steer well-clear of it treacherous reefs, which were responsible for causing the foundering of many ships. Geologically, there are cliffs in the region that are estimated to be at least 300 million years old.Bude today, is an attractive town which boasts two wide, sandy beaches that lie close to the town itself. Because of the direction in which the beaches lay (to the west) Atlantic ocean wave action is vigorous enough to attract surfers, which is a site one wouldn’t normally see in an English coastal town.Examples of early English architecture exist in and around the town, with a prime example being that of Saint Olaf’s parish church. Tourism is the main industry nowadays, with Bude Canal and its wharf being an attractive picture-taking opportunity.Cornwall itself is a notable peninsula and county of England in the United Kingdom. It has a population of around 530,000 people, and is one of the six original Celtic nations, which reach back into antiquity. Bude and the surrounding area are sure to please the desire of any tourist for picturesque seaside villages in the English countryside.