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Top Credit Card Consolidation Options
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[QUOTE="Ages, post: 122025, member: 78"] [RIGHT][IMG align="right" width="343px" alt="credit card consolidation options"]https://i.imgur.com/RmIz1y7.jpg[/IMG][/RIGHT] If you are having credit card problems and getting behind on bills, then you should consider consolidation options. Consolidation can help you out of a hole, by lowering your monthly payments so that you pay off your debts quicker and in a smaller amount. It can be done, and it isn't hard. Here we will look into some consolidation options for those of you who need credit card help. Debt settlement is one of the top two-credit credit card consolidation options. When using debt settlement you will negotiate with your creditor a lower monthly payment that is easy to make. The monthly payment you get will be less than what you were paying before, but you have to negotiate, and be aggressive if you want to get a better deal. Negotiating lower monthly payments will help you out, but if you are not careful you may end up paying more in the end or even being sued for not paying your debt in the proper manner. Debt settlement, also reduces your overall debt, as you will only have one large payment to pay each month instead of multiple smaller ones. [B]Debt management.[/B] Another one of the top credit card consolidation options is debt management, or debt consolidation loans. When you use debt management you will get a loan, which is often backed by either collateral or a mortgage, and will use this money to pay off all of your current accounts. This can be very useful when you want to consolidate, but keep in mind that there are many restrictions and fees involved with this type of loan. You usually will have to qualify for a loan, and since most people have bad credit this may prove to be a challenge. If you do qualify for a debt management loan you will probably have to put up some of your personal assets as collateral, and you will end up paying much higher interest rates. [B] Unsecured loans.[/B] Another one of the top credit card consolidation options is to seek out unsecured loans. Unsecured loans are usually short-term loans, and they will help you consolidate your credit card debt, but they come with higher interest rates than secured loans would. However, if you have great credit, this may not be an issue. If your credit score is low, however, these unsecured loans might not be the best route for you to take. [B]Reduced interest rates[/B] One last one of the top credit card consolidation options is to talk with your current creditors about reducing payments and reduced interest rates. Often times the credit card companies will be willing to negotiate because they do not want you to continue to owe them money. However, make sure that you are prepared to negotiate before you talk to your creditors, as sometimes they will just try to get the most money possible. If you are willing to settle on some terms then this could be a great way for you to consolidate your credit card debt. It is important that you understand how to consolidate your credit cards before you decide which consolidation method will work best for you. Make sure you do your research, and find out all of the pros and cons of each method before you commit yourself to anything. Consolidation loans can be a great way to consolidate your debt if you make sure that you are getting a good loan. If you do not do your research, you might end up spending more money in fees and interest than you would if you did your research. Make sure that you find a loan that has a lower interest rate than your current rates. This will allow you to save money. [/QUOTE]
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