Are you planning to consolidate credit card debts from various cards to one? Well, this article will state some facts which will help you understand a thing or two about credit card debt consolidation .
The obstacle with most debt consolidations is getting the approval for a higher credit limit. In fact, almost all of the consolidated credit card deals are very tight when it comes to credit card limits.
Most of the people who want to consolidate credit card debts have this same problem. For example, most college students are planning to consolidate most of their credit card debts after they graduate from college. Now here is a big factor, the most important aspect of debt is how much the total cost is. The best credit always offers the lowest rates. You must be able to compare the proposed new rate to your current average interest rate.
Many people want to consolidate credit card debts simply because they are tired of handling too many accounts. But beware of the most often repeated mistakes like consolidating at a greater rate for the reason of convenience of sole payment. It is a very delicate option to decide if it is worth for a little account in order to avoid extra amount of interest. It is always advisable to find ways to avoid extra cost.
Make a comparison with different banks. Choose the bank that will give you a great deal like raising credit limit or a much better rate. If they offer a good deal, you can transfer the account right away.
A positive effect of combining debts is that, instead of having five separate payments to five different creditors, it will become single payment to only one creditor. But a bit of advice, do some research before doing consolidation. It is very important to know the proper way of consolidating payments. Do not just settle into some deal that will only put you on the payment debt treadmill. Do not enter into a trap where consolidation of payments will only lead to even more debt.
A lot of choices are very much available for you other than to consolidate credit card debts. If you have excessive amounts of credit card debt and you see no way out, you may want to consider debt negotiation.
This is the quickest way of settling credit card debt (other than bankruptcy). This program takes about 2-4 years to become debt-free. In this process, your monthly payment can be reduced by as much as 60%. Also, if you are being harassed by debt collectors, your debt consultants will employ different strategies to eliminate the harassment.
Follow these tips to consolidate credit card debts and you will be in a much better financial position.
Debt Free Solutions is a debt consulting company located in Long Beach, CA. We have been in business for 10 years. We assist Americans across the U.S. to eliminate excessive credit card and other unsecured debt.
We utilize various programs and strategies to aid them in dissolving their debt in the quickest, safest, and most efficient method possible. We also analyze the risk factor. We structure our programs to drastically minimize the risk that is inevitable with all debt elimination programs.
We offer our clients much more than a debt settlement company does. The vast majority of debt negotiation companies simply settle your debts on your behalf with your creditors- nothing more.
On the other hand, we provide free services to significantly help to minimize the risks that are involved in negotiating with your creditors.
First, we offer a free, no-risk 10 day trial service. During our free trial, we negotiate with your creditors on your behalf to lower your interest rates. Also, we research to see if you have any old debts that you are not legally liable to repay. If, for any reason, you are not completely satisfied, you simply walk away. No commitments. No contracts.
Next, we provide a comprehensive credit repair service to all our clients. This is a $795 service that is absolutely free!
Also, we offer free attorney consultation (a maximum of five sessions) in case one or more of your creditors makes any threats.
Last, we provide a written guarantee that our clients’ creditors will settle for an average of 50% or more for all of the debts they attempt to negotiate.
Our services are competitively priced- and include the above free services!
Joseph Hernandez
CEO
Debt Free Solutions
www.debtfreesolutions.mobi
(800) 668-8090
It’s critical that you choose the best way to get out of debt. You need to weigh the pros and cons of each program to determine which program is best. Choosing the wrong program may cause a financial disaster!