How can I consolidate all my credit card debt into a low manageable monthly payment?
Many consumers find they have too many credit cards to easily manage themselves, and are in need of some form of credit card consolidation. Credit counseling is one of the most common debt relief options for people in need. Credit counseling programs typically have their clients close all of their credit card accounts, and instead of paying each of their creditors each month, are expected to make a single payment directly to the credit counseling organization, which in return, disperses the payment to each of the creditors. Aside from the credit card consolidation payments, the primary benefit of credit counseling is the fact they usually are also able to negotiate lower interest rates for their clients, which reduces the amount of time it takes to get out of debt. Before choosing credit counseling, or any other debt relief option, it is always advisable to explore your options.
Related Questions
- I want to consolidate my credit cards, but when I always get rejected because of my debt to income ratio. How can someone with a high debt to income ratio get out of credit card debt?
- How can I consolidate all my credit card debt into a low manageable monthly payment?
- Should I settle my credit card debt or pay with low monthly income?
