Wed, Jul 29th - 5:09AM
Is Credit Card Consolidation a Viable Option?
this checklist if you need help
- Are you only paying the minimum payments required by your credit
- Do you find yourself juggling payments by using one card to pay
- Are you using your cards to buy things because you do not have the
cash to do so?
- Are you embarrassed to tell people about the size of your debt?
- Are you constantly looking for credit increases because your cards
are all maxed out?
Of all the different pieces of financial jargon that get banded about in
relation to credit card users one can be forgiven for feeling a little bit lost
or confused but there is one term you need to fully understand as it will be of
great benefit should you encounter any credit card debt issues. That term is
consolidation . By using credit card debt consolidation you
could save your-self a whole pile of money, whether you are in a spot of
financial trouble or not.
Primarily, a consolidation should be used to help people who are having
financial difficulties but how do you know if you are in trouble or not? It is
quite often the case that debt issues are caused by ignorance, people tend to
ignore potential problems in the hope that they will improve and eventually go
away; in reality, however, they often grow to a size that becomes unmanageable
and as a result the debt will cause unnecessary stress and worry.
Admitting that you have a unsecured debt
consolidation problem can be difficult, embarrassing and shameful
but refusing to accept it will only ever have an adverse effect pushing you
further into trouble.
If you can relate to any of the list above then, in all probability, you have
a serious best debt
consolidation issue and should seriously consider debt
consolidation as an option.
There are two forms of credit card debt
consolidation the first is balance transfer consolidation which is
where you move all your consolidate credit
card onto one or two lower interest cards, therefore reducing the
amount you pay in interest or there is the credit card debt
consolidation loan which is what we will cover here as it provides
the best solution to credit card debt.
When you consolidate credit
cards debt you will basically be getting a loan from a bank or a
similar financial institution to pay off all of your other debts. Although we
are primarily talking about credit card consolidation, these loans can be used
to pay off your card loans, mortgages, and or student loans. They can all be put
together into one single which will have several advantages.
With all your credit card consolidation
loan into one manageable loan you will be paying a great deal less
in interest payments especially on your credit card debt, where constantly
soaring interest rates and penalty charges, not to mention annual fees can be
Another advantage as mentioned previously is the improved manageability of
your finances, it doesn’t take a rocket scientist to work out that one loan is a
lot easier to control than say twenty different loans and credit card accounts!
No more missed or late payments due to oversights!
Give plenty of thought to performing free debt consolidation
, never jump into the first deal you are offered and always shop around for the
best offers. It may be wise to consider using a credit counseling service for
some expert advice and guidance especially if you lack any experience in these
If you would like to know more about the methods you can use to obtain
financial freedom visit any of the sites listed below. These completely ethical
methods of debt reduction have been kept secret by the financial institutions
for decades so take some action now.