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Credit Card Debt

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Credit Card Debt Consolidate Tips
If you've had several credit cards and ended up missing payments from time to time because your payments were all due on different dates, then having everything merged into one handy loan could make it easier for you because it's one less thing to think about. This is about the same amount of time as you would expect to spend if you filed a bankruptcy. While your credit could go down a bit when on a consolidation plan, it is usually not as severe as what would happen to it if you filed bankruptcy. Credit card debt consolidation involves taking out a loan at a lower interest rate than you are paying on the credit cards, and moving all of your credit card debt over to that loan. You will then close the credit cards so that you don't continue to build up balances on them. The process of consolidation gives you one single monthly payment that you are able to stick with for a long period of time. Because it is a fixed payment which comes out on a specific day each month, you know exactly what your financial situation is and your debt goes down by a predictable amount every month. You are less likely to get confused, miss payments, or incur charges, and your credit rating will start to repair itself because you have fewer cards, a more consistent series of payments made on your report, and a better financial situation overall.