Consolidating credit card debt definition

12-Jan-2015 23:08

Also make sure to read your contract carefully, as there can be high balance transfer fees on some credit cards.Much like a balance transfer, a debt consolidation loan allows you to move existing balances from your high interest credit cards into one low interest account.

Debt consolidation loans can be unsecured or secured, such as with a home equity loan.

Often one of the main problems people encounter with the first three debt relief options is that mounting debt problems have already negatively impacted their credit rating.

Each time you miss payments, pay late, or pay less than the minimum required your credit rating suffers.

Before you choose a path forward, consult with a certified credit expert, like a credit counselor, to make sure you make the right decision for your finances.

Call to speak with a credit counselor for free or request a consultation online with a Free Debt Analysis.

Debt consolidation loans can be unsecured or secured, such as with a home equity loan.

Often one of the main problems people encounter with the first three debt relief options is that mounting debt problems have already negatively impacted their credit rating.

Each time you miss payments, pay late, or pay less than the minimum required your credit rating suffers.

Before you choose a path forward, consult with a certified credit expert, like a credit counselor, to make sure you make the right decision for your finances.

Call to speak with a credit counselor for free or request a consultation online with a Free Debt Analysis.

Some debts are too big to handle simply by tightening your belt or exercising better budgeting techniques.