Credit Card Debt Consolidation
If you're feeling stretched by credit card bills or other high-interest
payments, a debt consolidation mangement plan may be just what you need.
You could consolidate your bills, save money, and have spending room to
Credit card debt consolidation can be arranged by a credit counselor
or debt management services. It is a process which allows you to combine
all of your monthly bills into one, conveniently-low, monthly payment
--- Up to 50% lower than what you are currently paying. Debt consolidation
is a negotiated agreement between you and your unsecured creditors, whereby,
- You agree to pay, on time, a lower monthly payment
you can afford while meeting your other living expenses Payments are
usually reduced by as much as 35%.
- You agree to stop using your credit cards or
increasing your debt.
Your Creditors agree to:
- Stop all harassing phone calls or any other
form of harassment.
- Reduce the amount of your monthly payments to
one you can afford.
- Eliminate or reduce your high interest rates.
- Stop late and over limit fees, and other misc.
You make just one convenient lower monthly payment that you can afford
which satisfies all of your unsecured debt obligation and your other living
expenses as well. Payments are usually reduced by as much as 35%. Late
and over limit fees are eliminated and very often by making the regular
monthly payments on time, delinquent accounts get re-aged to current status
again, saving your credit rating. Your restructured debt program will
allow you to avoid taking the drastic measure of declaring bankruptcy
or committing yourself to a long term debt consolidation loan that doesn't
really solve the underlying problem.
By negotiating terms such as lowering your presently high interest rates,
a greater portion of each payment is applied toward your balance, instead
of mostly going to paying off interest. You will drastically cut your
pay off time from 15-30 years down to 4-6 years. This will result in saving
you thousands of hard earned dollars in finance charges.
Debt Management and Consolidation Services
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