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Consolidation service credit card consolidating debt

consolidation service credit card consolidating debt-4

Just make sure this consolidation is part of a larger plan to get out of debt and you don’t run up new balances on the cards you’ve consolidated.Credit card debt consolidation is a savior for all those who are drowning in credit card debts.

Of course, there are other simple ways to solve this dilemma.Here are cases when you may want to consider consolidating.Let’s say you have four credit cards with balances and interest rates ranging from 18.99% to 24.99%.In my mind, consolidation means either (a) dealing with questionable debt consolidation companies or (b) moving a debt problem without dealing with it — both of which are harmful to the user and beneficial for predatory lenders.Yet, consolidation can be helpful if you do it right.If you’ll only save a negligible amount by consolidating, don’t bother.

You’ll end up spending quite a bit of time on minutiae. This is a problem when it comes to credit because making on time payments is crucial to build a great credit score.

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For a list of all of our advertising partners, click here' You can trust that we maintain strict editorial integrity in our writing and assessments; however, we receive compensation when you click on links to products from our partners and get approved. The term “debt consolidation” carries negative connotations for many people, including me.

None will direct you to a debt consolidation counselor.