What is Credit Card Consolidation?
Is your credit card debt quickly becoming unmanageable? If you’re struggling with paying multiple credit card bills and have collectors calling and harassing you or sending you letters, it may be time to consider credit consolidation.
Credit Card Debt Consolidation, also known as consumer credit counseling, should be one of your first options that you consider when attempting to eliminate credit card debt.
Credit card consolidation allows you to combine multiple credit card bills into one single monthly payment. This makes the bill paying process much more manageable. It also reduces the risk of delinquencies.
With credit consolidation you get the advantage of lower interest rates, one single monthly payment, creditors may reduce or remove late fees and other charges, and the credit card debt consolidation company will deal directly with the collection agencies. When you enroll in a credit card consolidation program, the Company will handle communication with creditors until your credit card debt has been paid off. Remember, credit card consolidation is not for everyone and it important to speak with a professional debt counselor to determine the best debt relief program for your individual financial situation. If you are unable to pay monthly payments on debt, you may want to consider settling your credit card debt. Golden Financial Services can help.
With a credit consolidation program, you may qualify for a credit card consolidation loan. Credit card consolidation loans have low interest rates and help you pay off credit card debt in a timely manner. Contact Golden Financial Services to determine the best credit card debt services for you.
When you schedule a free consultation with one of Golden Financial Services’ debt counselors, we can help you choose the best debt relief programs for your needs. A debt relief counselor will review and analyze your financial situation and educate you on the various debt relief solutions. With Golden Financial Services, we give you honest and truthful information that is tailored to your specific case. We will never pressure you into a debt relief program that isn’t right for you.
If you cannot afford a credit card debt consolidation program, well there are other options. Debt settlement could allow you to pay back less than the full amount owed on each of your credit cards. Debt Settlement will lower your credit score since you must be delinquent on your payments for the program to effectively work. With a debt settlement program you will also have only one monthly payment, like with credit card consolidation services. Is your goal to get out of debt quick and save the most money, due to an extreme hardship? If yes, then a hardship program like debt settlement may be your best option. Or is your goal to simply have one easy payment with a reduced interest rate? If yes, credit card consolidation will be a better option for you.
As a last option to eliminating credit card debt, you may want to talk with a bankruptcy attorney, but with bankruptcy it becomes very difficult in the future to use your credit even for simple purchases including renting a home or buying a new car due to the damaging long-term effects that bankruptcy has on your credit report. Bankruptcy is not a good option for resolving your credit card debt, but it may be a viable option for someone who has a mixture of secured and unsecured debt that they are delinquent on, or if you have several lawsuits from creditors that sued you. Bankruptcy at times, may even be used as a debt relief option to save your home from foreclosure. Basically, only file for bankruptcy if it is your last resort, and you cannot qualify for debt settlement or credit card consolidation services.
Golden Financial Services has been a leading provider of debt relief services since 2004. Over the past six months, Golden Financial Services has negotiated 14,945 settlements equaling over $96 million in debt. We have maintained an A+ Rating with the Better Business Bureau, and have zero unresolved complaints over the last eight years.
Credit Card Debt Consolidation
Credit card consolidation may get confused with debt consolidation loans. In 2016 these phrases are often misconstrued. A debt consolidation loan is where a person gets a loan with a low interest rate to pay off all of their other debts, then having one single low interest loan to pay back. Credit card debt consolidation refers to consumer credit counseling where a person can have a non-profit consumer credit counseling company combine all of their payments into one, but meanwhile the company is dispersing the funds to each of your creditors every month after negotiating your interest rates down. This type of program allows a person to have a reduced and single monthly payment, and get out of debt in 5 years or less. This type of program is not for the person that has an extreme hardship, learn about other debt relief programs in 2016 that will accommodate for someone with an extreme hardship.
To schedule a free debt relief consultation or to find out if you qualify for credit card debt consolidation loans, contact Golden Financial Services at 1-866-376-9846. Contacting Golden Financial Services is the first step toward your debt free future.