When it comes to consolidating any type of debt there are good options and there are options that just do not work very often or for many people. This is the same when you want to consolidate credit card debt as well. This is the unsecured type of debt that is easier to negotiate than those types of debts that are secured by property of some sort. Here is what you should do with credit card debt. debt consolidation loans
If you have less than $10,000 in credit card debt, then you want to just pay as much as you possibly can on this debt each month until it is gone. Make sure you cut up the cards so that you are not tempted to use them again. You will also want to do your best to pay as much as you can because the minimum payment is not going to get you very far and it will take forever if that is all you pay. debt consolidation loans
If you have more than $10,000 in unsecured debt and you want to consolidate credit card debt, then you will want some help. You could refinance your mortgage and use the cash you to help you consolidate your debts, but you will have to cut up the cards or you could end up with more debt than you already have. Another way to handle it is to negotiate lower payoffs on your own with a payment plan and pay the money to the companies. debt consolidation loans
The best way to consolidate credit card debt is to use a service that can roll all your payments into one and make them lower by negotiating with your creditors. These services usually require that you have over $10,000 in unsecured debts and they will help you get rid of those debts in less than 3 years for most cases. This is a great way to get to that place you want to go and be living debt free when you get there.
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