Loans for consolidating credit cards

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The truth is that having any debt means you are financially beholden to a creditor and you can’t put your money in your own pocket until your obligation is met.

You’ve got several options when you make the decision to eliminate debt.

If you’re already struggling to make your debt payments or your credit cards are maxed out, you may not qualify for a zero percent credit card balance transfer offer.

Bad credit debt consolidation loans are available from some lenders but they are costly.

A company will manage the plan and negotiate some cost reductions with your creditors, such as waived fees or a lower interest rate.

You’ll make a single payment to the plan manager, who will distribute the funds to your creditors.

The best debt consolidation solution is one that simplifies your financial life or lowers your cost of debt, or both.

Debt is costly and can prevent us from reaching financial goals (or at least prevent us from reaching them when we’d like to).

Some people consider credit card debt bad and mortgage or student loan debt good.

Debt consolidation companies like National Debt Relief and Freedom Debt Relief offer to help you through the process for a fee (eating into your savings).

They will instruct you to stop paying your bills, which leaves you open to lawsuits by your creditors.

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