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Consolidating Credit Card Debts Is an element of Credit Repair

Overspending is really a mistake that a lot of folks make. This is because they think that as long as it really is approved they can continue to do so until that maxes out. This never ends well because they will dont have the funds to pay for what they purchased which is why consolidating credit card debts is part regarding credit repair.

If you think this problem is merely in the US, think again because the same situation happens in other part of the world.

Credit card debt consolidation is very simple. You combine all the debts you owe from various collectors so you end up spending only one creditor month-to-month.

There are many benefits regarding credit card consolidation.

First, you can pay off your debt from lower interest rates than others that are already prevailing in the market.

Doing so may re-age your account. This means that your bank account is current and also active as long as you keep making the payments that you simply agreed on.

While most card organizations charge you fees to be late on your payments, the credit card debt consolidation plan waives that so what you will simply be paying what you actually owe.

Lastly, the debt consolidation plan purchases you time so you have the choice whether to finish paying within weeks or weeks.

When you are able to merge your credit card debt, the next thing is to come up with the money to cover it off. You can try reducing your expenses, asking for an increase, getting a second job or selling several valuables.

So do you have to apply for credit card consolidation when you go to a bank? You are able to course this via a bank but there are private and non-profit businesses that offer similar providers. You just have to find the right one to work with and then cooperate with them.

When you are looking for the best organization to work with, cause them to become legitimate because many of these are scams. This kind of isnt good and you certainly dont want to fall for which because you are just wasting your time and money.

Once you notice that the money you owe gets smaller, you are currently on the right track and it wont be long before you have ultimately been able to do a few credit repair.

There are a few things you also can do to improve your credit rating. You can open a new line of credit and if the key credit card companies will most likely deny your application, get a credit card provided by supermarkets or household goods and those offered by banks.

Dont forget to pay your bills and other expenses on time because all that work you have done will go in order to waste if you miss a payment.

The amount of money you owe to lenders took months to grow so dont be surprised whether it takes awhile before you are finally debt free. Remember, you put yourself in this case so the only particular person to blame is your self.

Credit card consolidation is just a section of credit repair. Once it is within play, honor your commitment because that is the only way that your credit score is going to improve and you’ll once again have great standing with your creditors.

Comments: 86

  1. Normand March 13, 2013 at 12:30 am Reply

    I have enough in my 401k and i need to consolidate credit card debts which would require all of it after taxes and penalties, but could to pay off all the credit cards! Which is better route, refinancing or 401K debt consolidation loan?

  2. Beau March 15, 2013 at 2:30 pm Reply

    I am confused. What is credit card consolidation? What is loan consolidation? What is a debt consolidation loan?

  3. Floretta June 20, 2013 at 3:38 pm Reply

    What is the benefit of using debt consolidation for credit card debt? I am trying to decide to either call the credit card companies myself and negotiate for a lower payoff/settlement amount, or to use a debt consolidation company? If I negotiate with the credit cards directly, will that be considered a charge off? I would want to settle myself if I can to avoid paying all the months of high interest. But if I use debt consolidation, then they will charge me a fee every month for so many years? What is their purpose? What would be the best route to go financially?

  4. Dominica June 26, 2013 at 12:54 am Reply

    my husband and i have about $7,000 in credit card debt. We make about $45,000 a year we always keep up with our payments its just hard to get it paid off I was wondering in it would be worth credit consolidation or would that hurt our credit in the future if we needed to get an auto loan or something like that. I just need a few opinons on the best way to get this paid off and what my best options are.

  5. Dave July 16, 2013 at 7:49 pm Reply

    Anyone have a good site with a listing of credit card debt consolidation providers?

  6. Vina August 7, 2013 at 3:29 pm Reply

    I have 15k in credit card debt and i want to get rid of soon. I dont want to do go thru debt consolidation companys because it will have a negative affect on my credit. how should i start? payoff the ones with high interest first or what?

  7. Josephina August 11, 2013 at 11:59 pm Reply

    I have $15,000 in credit card debt and I need a loan to help me put my debt together and make only one payment. My credit score is 615. Does anyone know who can help me with this. I don’t want the debt consolidation consultants.
    I don’t have any late payment history or other negative input.

  8. Janean August 17, 2013 at 7:27 am Reply

    I am making minimum payments with a few credit card companies but could have trouble paying these in the future. I don’t want to go through a debt consolidation company or a debt settlement company. Is it possible to call on my own and warn them I will file for bankruptcy and ask to settle before I stop paying for 30-90 days like most experts say? Can someone give me their advice or opinion on this? Thanks

  9. Tamie August 17, 2013 at 7:28 am Reply

    Hi All. I’m a recent college grad who is fairly new to the workforce and is ready to get rid of her credit card debt!! I was fortunate enought not to borrow much in student loans (a total of about $9,000), however by grad time I owed about 9 thousand in credit card debt. Now I am ready to get rid of this burden. I know that this sounds horrible, but my situation was very different than that of the average student. I am a mother and was raising my daughter the whole time during college. Instead of working full time I focused on my studies and only worked part time. Needless to say this made everything harder but in the end it was worth it. Also, I’m not looking for an overnight solution. It took me six years to accumulate this debt so I know it wont disappera overnight. I’m just looking for the best way to go about it. Please help!

  10. Migdalia August 22, 2013 at 3:07 am Reply

    Due to a family tragedy, my husband and I are currently in $26,000 of credit card debt. All of the payments are current and the cards are paid on time with the accounts still open (we are not still charging, though). We are looking to seriously pay this down before the interest eats us alive. My husband wants to take out a bank loan and pay the cards off that way, but I am wondering about the debt consolidation programs you hear about (I know some of those are scams and some are real). Any advice or experience?

  11. Justin September 19, 2013 at 2:23 pm Reply


    I have several credit cards that have gone bad. I find debt consolidation isnt the best way to go. What can I do with collections in order to reduce the total amount I owe?

    How can I get each creditor to reduce the debt AS MUCH AS POSSIBLE before I start paying?


  12. King October 1, 2013 at 2:36 pm Reply

    I have racked up about $10,000 in credit card debt stemming from college and medical expenses. What is my best option as I am still a student and working with a very limited budget? Are there hidden catches to debt consolidation companies; if so what?
    What is the best way to negotiate with creditors to lower the debt?

  13. Ross October 12, 2013 at 5:50 am Reply

    My friends husband died leaving her three kids and over $100,000.00 in credit card debt. She has been trying to pay but now is getting threatened with them taking her house. She make just a little over minimum wage on a part time basis and the depression is starting to drag her down.

  14. Joelle October 21, 2013 at 7:58 am Reply

    I have $10000 in credit card debt. I need a loan to pay this because consolidation isn’t working. Is there a website or something I can go to for this specific reason?
    I do not own any property

  15. Vern November 24, 2013 at 7:23 pm Reply

    I currently have around 10,000.00 dollars of credit card debt on three different cards. I am paying 29.99% on two of them, and 22.99% on the other one.

    I have tried to get a card with a better rate to transfer my balances to, but the issuers won’t give me one because I am using so much of my available credit now. I have not had any late payments on my credit accounts, tho.

    Should I try to get a home equity loan to pay off the cards, or is that a bad idea, too?

    I know that I got myself in this situation, and I am wholly responsible. I do not feel right about declaring bankruptcy, but really want to get out of debt somehow.

    If I am unable to get a lower rate, then I don’t see a way to rid myself of the debt. Any advice?

  16. Fabiola November 29, 2013 at 7:14 pm Reply

    I will be graduating soon with about 20k in student loans. I also have about 10k in credit card debt. Is there any way to lump it all together?

  17. Cory December 7, 2013 at 8:36 am Reply

    My bf has about 14000 in various credit card debt. Most of it interest. What credit consolidation programs (if any) would be worth looking into?

  18. Alene December 8, 2013 at 1:04 am Reply

    I have less than $5,000 in credit card debt, but it kind of has me in a bind. It seems I’m only paying off the interest while the actual balance never goes down. I applied online for a personal loan, but was rejected. I was thinking of maybe using a credit consolidation service to help me out. What ones are reputable? Which ones have you personally used and what were your thoughts on them? Any help is greatly appreciated.

  19. Cassaundra December 8, 2013 at 11:48 am Reply

    What is the perfect condition to consolidate credit card debts or bills. I basically wanted to avoid the quicksand situation. So looking for advice on when to go for consolidation. I have got a resource for consolidation but waiting for the right time to consolidate.
    Hey this is not a spam….i m confused about the time when i should go for consolidation.

  20. Delorse December 8, 2013 at 4:55 pm Reply

    I recently had to defer my salary at my job for an extended period and cannot afford to pay my credit card debt. What should I do? A friend advised me to not make the next payments and negotiate with credit card companies on the debt. Is this wise? Would you advise I do something else? Thank you.

  21. Garfield December 13, 2013 at 3:30 am Reply

    I have close to 20k of unsecured credit card debt from different creditors. Some of them have been willing to cut the balance in half in order to settle the account. Should I attempt to individually settle with them? Or do I take out a consolidation loan for 20k?

  22. Dee December 13, 2013 at 11:21 pm Reply

    I wanted to do credit card debt consolidation but I am skeptical if this is a good idea with the economy. I am very far behind on my credit card bills and the only reason I can’t afford them now is because the min payment has gone through the roof. The all together debt that I have is less than 2,000.

  23. Arnoldo December 15, 2013 at 10:19 pm Reply

    I need help with paying off my credit card debts. There are so many debt reduction /consolidation agencies that I don’t know which one is good/authentic and will give the best rate (discount). For those who had gone through this experience, please advise. Thanks.

  24. Crystle December 17, 2013 at 7:47 pm Reply

    I have some credit card debt (ranging from 1k-4k) that I want to settle on. I haven’t paid a dime in about 2 years, so I should be able to get pretty low. The only problem is that I want to settle ASAP. I’ve heard people say you can settle for 30% of what you owe. I was thinking of a 40% settlement offer so make it quick and easy without having to negotiate back and forth. Any other info will help. Thanks!

  25. Clelia December 18, 2013 at 3:24 am Reply

    I want to get out of credit card debt. I’m in college, but am working. I have several cards that are at their limits, and have used most of my savings trying to pay the interest each month. I probably have a total of $5000 in debt, and while I make around $8000-10000 a year, I do have other expenses to pay. What are my options?

  26. Phung December 18, 2013 at 7:09 pm Reply

    I have a bunch of hospital bills that really cost me in credit scores. I really want to try to consolidate it but I can’t find anyone who does debt consolidation without credit card debt. Any suggestions?

  27. Larry December 20, 2013 at 1:17 am Reply

    I have approximately $35,000 in Credit Card debt. I am able to make only my minimum monthly payments but am not making any progress in lowering my balances. I do not own a home so I cannot apply for a equity loan and I have heard that the debt consolidation progarms do not work. Is anyone aware of a long term personal loand program that I can apply for? Or do you have any other sugguestions as to how I can reduce my debt?

  28. Barrett December 22, 2013 at 4:27 pm Reply

    i would need answers from people that went through credit card debt consolidation themselves to answer, please no advertising or financial company, thanks.

  29. Cody December 23, 2013 at 9:36 am Reply

    I am trying to help someone who has aboout $10,000 in credit card debt, spread over 6 cards, get things turned around. Is there anyone who knows the options they have and which processes are the best. Any help is greatly appreciated.

  30. Vaughn December 23, 2013 at 9:41 am Reply

    I have around $10,000.00 dollars of credit card debt from 3 different cards, my husband is unemployed and i work a low paying job and we can’t make the min. payments. They are falling behind by as much as 190 days. The interest is almost 30% on each, What would be my best option?

  31. Guadalupe December 31, 2013 at 7:06 pm Reply

    I have some credit card debt from the past. I hear that if you wait a few years you can take the total off all your debt and combine it and pay like half the price and make payments to get it paid off and off your credit report. Is this even true? If so, how do I go about this? Exactly how many years do I have to wait? Thanksss!

  32. Major January 1, 2014 at 5:26 am Reply

    Can you use a debt consolidation company if the credit card companies have already sold your accounts to collection agencies?

  33. Marion January 3, 2014 at 3:43 pm Reply

    I’ve become over whelmed with my credit card debt and I’m getting those phone calls because I’m missing payments and such. Anyway I’m looking for a credit card debt consolidation company that doesn’t screw people over, anyone know of any from experience or just know a good one?

  34. Annabel January 4, 2014 at 5:35 pm Reply

    I have tried to get approved for a debt consolidation loan so I could have my credit cards and school loan under one monthly payment rather than juggling several payments but I get denied because I have too much credit in my name right now. If I close all the credit cards will this help me get a loan approved? It would make life so much easier if I just had 1 steady monthly payment.

  35. Kori January 9, 2014 at 12:10 pm Reply

    I am thinking of doing debt consolidation , all the major credit cards I have have 20% + interests and I want help in lowering interest rate. Would I have to list all the credit cards I have? Or can I select the big ones with the high interest?

  36. Raymon January 10, 2014 at 12:43 am Reply

    I am 23 with a nine-month-old son, and I owe (on top of my student loans from college) approximately $30,000 in credit card debt. I am looking to do a debt management/consolidation program, but was wondering if I should just contact those credit card companies that say to call them if I have “financial difficulties” instead? Also, which debt consolidation programs would you refer, if any? Thank you!

  37. Signe January 10, 2014 at 12:01 pm Reply

    I am planning to consolidate about $4000 in credit card debt by personal loan. What are the best lenders to approach?

  38. Jerrod January 11, 2014 at 12:18 pm Reply

    Where can people who realy want to get rid of that nasty revolving apr credit card debt get a consolidation loan. Especially people who have fair to less then fair credit. Please help.

  39. Corie January 24, 2014 at 10:36 am Reply

    especially if you dont’ have the money to pay off the monthly balance? i have $8,000 worth of credit card debt and not sure if it was a good idea to get a debt consolidation loan to pay 3 of ’em.

  40. Obdulia January 24, 2014 at 11:15 am Reply

    I applied for a loan and have an in person appointment next week. Im getting it mainly for Debt consolidation, but I also want some money for myself. I want to pay off my major creditcards, but don’t want all of it to go to my Debt. If approved and receive my loan, do they give it all to me at once, or do they pay my credit cards off first then, give me what’s left over?

  41. Marion January 27, 2014 at 5:01 pm Reply

    I have a bunch of hospital bills that really cost me in credit scores. I really want to try to consolidate it but I can’t find anyone who does debt consolidation without credit card debt. Any suggestions?

  42. Ryan February 2, 2014 at 7:13 am Reply

    These companies that offers debt consolidation and credit management, do they really cut your credit card bills to 40%??

  43. Greta February 2, 2014 at 9:56 am Reply

    About $7K in credit card debt. my credit score is very poor around 450. I cannot get approved for a consolidation loan, i dont own a home to take out a 2nd, im living pay check to pay check. I really wanna consolidate with loan. please help, how do i get the loan to consolidate if my credit is so horrible i cant get approved?? Anyone know of any places?? i dont qualify for cash call cause you have to be 21 and im only 20…someone?? anyone??

  44. Elvin February 3, 2014 at 3:05 am Reply

    if a person loses a job, gets laid off, then paying for food, rent, etc becomes priority, and a credit card debt goes to the bottom of the list, my question: can a person go to court and try to cancel the debt through a court order? given the circunstance of being out of work?

  45. Emmy February 16, 2014 at 10:42 pm Reply

    so i watch couple of commercials about consolidate credit card, lower interest , etc ..etc… anyone experienced this? the pros and cons? does it effect my credit score? greatly appreciated

  46. Morgan February 19, 2014 at 1:11 pm Reply

    I owe $11,000 in credit cards. When economic times were better, it wasn’t so bad; I could balance transfer to 0% for a fixed 3% one time fee. Now it is much worse, I had to close an account to keep the interest rate from going high, when my debt to credit ratio is already bad now and nobody will give me a balance transfer anymore.

    So now I essentially owe $9,000 at 8.5% or so, if you compound the different interest rates and balances. With my current living situation / area I live in my rent is over 30% of my expenses. I can make payments each month, but eliminating the debt will take at least 3 years and most likely longer, as something always comes up. I budget extremely well; but it just comes down essentially eliminating a social life, cooking every meal, and that just sucks!

    Should I do Credit Card Debt Consolidation or is that too drastic and I just should move in to a cheaper living situation (which is drastic as well, but oh well).

  47. Yuko February 20, 2014 at 4:23 am Reply

    Isn’t there a legal way you can get out of paying your credit card debt (outside of the obvious, paying them off). I could have sworn I heard of something that allowed you to do this, but of course not well known….

  48. Shelba February 21, 2014 at 2:58 am Reply

    Has any one ever used a consolidation company for credit card debt? Dose it hurt your credit? How does it work anyone know?

  49. Dave February 21, 2014 at 9:19 pm Reply

    I am giving doubt about debt consolidation. Will debt consolidation cause problem to my credit?

  50. Elfreda February 21, 2014 at 9:30 pm Reply

    How do I find out the answer to this? Yahoo answer members have given me conflicting information. Where can I find the answer on the web?

    One credit card that I need to pay off. VISA. Is it best to pay weekly as I get paid or hold off and pay more than the minimum when the monthly bill comes?

  51. Trista February 21, 2014 at 9:46 pm Reply

    Please suggest a Consumer Credit Debt Consolidation (Non Profit ) preferably as we want to get rid 15k credit card debts

  52. Carla February 21, 2014 at 9:46 pm Reply

    Can someone please recommend a good credit card debt consolidation company? My husband and I would like to lower our APR and pay just one larger payment to a consolidation company and get rid of our credit cards. We need an honest company that won’t charge an arm and a leg for their services. FYI, we are in debt about $10k. Thanks for your help!

  53. Gregory February 21, 2014 at 9:46 pm Reply

    I have two credit cards, the balance on the first card is $3,598.22 and the balance on the second card is $11,005.89. I want to transfer the balance on the first card to the second card but the credit limit on my second card is not enough to accomodate the balance on my first card. What should I do? My credit is good. Any suggestions on how I should consolidate them and not pay too much monthly.
    They just raised my credit limit a few months ago and I have a feeling that they would deny another increase. They would not let me talk to their credit department to explain my situation.

  54. Dominica February 21, 2014 at 9:46 pm Reply

    My wife and I consolidated our credit card debt. Between the both of us we had about 8,000, but I think we made a mistake with the kind of load we got. We had to put up one of our cars for collateral. The interest is kind of high and by the time we pay it off we would have payed back 15000 instead of the 8000. Is there a better loan out there we can get? Like a home equity loan or something? Any advice would help.

  55. Marcelina February 21, 2014 at 9:46 pm Reply

    Does it hurt your credit score if you have credit cards with no balance on them?
    I have 1 credit card from 2005 and 1 from 2006 which have never been used, and I just must have forgotten about them, so the accounts are still open. Does that help or hurt me?

    Also, I got my free credit report from Equifax, but they want me to pay $7 just to view my credit score. Is there anyway I can view my credit score for free?

    I heard that debt consolidation loans are better because they help your credit as you’re paying them off: is that true? and what legit company could I go to for that?

    (if you are able to, can you please provide legit sources of information, I prefer not having these serious questions answered by guesses or assumptions. I appreciate it.)
    I’d like to emphasize a part of a question… a couple answers said that those credit cards that have never been used are not helping my credit… Well, are they hurting it? Or are they just doing nothing.

    And to be honest, I couldn’t use my credit cards if I wanted to now… They’re technically closed, however the companies haven’t released them to debt collectors. But every company is looking for me to pay either $80 per month or settle by paying a large amount but not the full amount. I have 5 cards totalling $5000 (could be worse… yay for being jobless for 5 months and denied unemployment!). I just don’t know what to do. I tried a consolidation agency but they wanted $130/month… If I couldn’t make my card payments, what makes these people think I can pay that each month. The only thing keeping my credit afloat is my car payment, because I need to car to get to work.

  56. Leandro February 21, 2014 at 10:41 pm Reply

    Here’s my situation: I have 3 maxed out credit cards totaling 35K (all debt to help a friend in need) and 60K of currently deferred grad school payments. I still have good/decent credit because my wonderful parents put me as an authorized user for all their cards since I was 10. I can’t thank them enough. Also, never had one delinquent, etc. The 0% on the cards have now expired and in pretty high rates.

    I’m a full-time student and work full-time, but can’t show income because only been working two months and it’s a commission-based job. On track right now to make over 120K this year, but can’t work for the next month and need a credit line or free up one of the cards asap.

    Can I move all CC debt into one account? What’s the deal with debt consolidation-will it affect my credit score? needed? How about yet another credit card? Any other companies that will see the maxed-out high limit cards and not freak? Any options being a student?
    Creativity welcome 🙂
    Thanks in advance, Sam

  57. Alberto February 21, 2014 at 11:52 pm Reply

    Is this a good way to lower my debt and still have a good credit score?


  58. Bertram February 21, 2014 at 11:52 pm Reply

    I have 3 maxed credit cards and am having a hard time getting them paid down. Due to some hard times, I have been late on a few payments and my overages have been crazy! If I could bundle them, I feel like I may have a better chance of getting them knocked out quicker. I am worried this my hurt my credit. Any advice?

  59. Marcelene February 21, 2014 at 11:52 pm Reply

    Does any one have any good tips about credit card consolidation or how to go about negotiating lower interest rates? I need help desperately and don’t know how to start!

  60. Roger February 22, 2014 at 12:37 am Reply

    if i have $12k in debt on one credit card how low could my monthly payments possibly be if i did debt consolidation? how many years would my credit be affected from doing a debt consolidation?
    can i expect to see $40 affordable monthly payments?
    when is it too late to do debt consolidation?

  61. Fabiola February 22, 2014 at 12:37 am Reply

    Just got a huge tax refund and I need some advice. Should I go ahead and take this money and pay off some of our credit card debts or should I open an ROTH IRA to invest the extra money?

  62. Carmine February 22, 2014 at 1:03 am Reply

    I have credit card debt, I have been making monthly payments, but I was wondering what I could do to pay it off quicker, and if I go with a debt consildation place, can I still use my credit cards if I need to. I have one left, the rest I have destroyed

  63. Cheyenne February 22, 2014 at 1:04 am Reply

    If I let my cards slip for a while I don’t know how much they’ve hurt my credit. I need credit card debt consolidation, will they accept me if my credit cards have been beating up my credit a little in the last month or 2?

  64. Kathy February 22, 2014 at 1:08 am Reply

    My friend and her husband have a huge credit card debt (42,000) and she recently had to stop working due to a difficult pregnancy. They cannot make their payments any longer. The debt is in her name only and they are considering a credit card debt consolidation company but she is wondering would it affect her husbands credit if she filed it in her name only. Anyone been through this or have advice? Serious answers only please…they are having a really rough time right now.

  65. Coleman February 22, 2014 at 1:08 am Reply

    If so, do you recommend it? What should I look out for? How does it work??

  66. Dayle February 22, 2014 at 1:22 am Reply

    i am in it way over my head and i fell behind with my payments. i am looking for a credit consolidation company or something that will help me get out of this mess. does anyone know the best thing to do?? please help!!!!

  67. Constance February 22, 2014 at 2:14 am Reply

    I have about $6,000 of debt from credit cards spread over about 5 different cards. I would like to have it ALL on one bill. Should I consolidate it? What do you think my best bet is? ( I always pay over the minimum amount due, by the way.)

  68. Jacquelyne February 22, 2014 at 2:30 am Reply

    anybody have an opinion on credit card debt consolidation we have always paid our bills having a real hard time right now not sure what to do

  69. Margie February 22, 2014 at 2:30 am Reply

    I’m thinking of consolidating 3 credit cards totalling just under $15,000.
    What can I expect? What’s the longest term/lowest payment I can get for this amount of debt? Can I add a Secured loan to this consolidation (citifinancial)?
    What’s my best game plan?

    Anything else I need to know?

  70. Nilsa February 22, 2014 at 2:51 am Reply

    If i call one of those debt places to get my credit card bills paid off, does that go on your credit report or make it hard to get new credit cards?

  71. Marian February 22, 2014 at 3:57 am Reply

    I am in 3500 dollars credit card debt with 3 credit cards. Do these companies that claim to consolidate your cards into one monthly payment actually work? If so, does anyone know of the best ones?

  72. Elizebeth February 22, 2014 at 4:42 am Reply

    I have amassed $16,000 in credit card debt. I am contemplating the best way to tackle this debt as there are other things that I want to do with my recently purchased condo. However, I will not begin to make any improvements or take on further debt until I am totally credit card debt free.

    The credit card debt is contain on (2) credit cards that have an interest rate of 9% and 12% respectively. I am considering a debt consolidation loan but preliminary research shows that the interest rates being offered are higher than my credit cards’ interest rate. The fixed payment of a debt consolidation loan is what is most appealing to me. What suggestions do you offer? Is it possible to receive debt consolidation loan at a rate lower than what is being offered? Are there other debt reduction remedies that I should consider? Let me know if you need additional information. Please help. Thank you for your time

  73. Dorothy February 22, 2014 at 4:58 am Reply

    I have about $16,000 of credit card debt on four different cards with APRs ranging from about 11 to 14%. I am not working now but have a job overseas waiting for me starting some time in March. Could one of these credit card debt consolidation companies be useful for me? I’ve seen the advertisements and their claims that monthly payments can be reduced, but would this raise the overall amount I will pay? How could one of these companies be of use to me and how could I go about finding a good one? Any recommendations for a particular company? Thanks in advance.

  74. Britany February 22, 2014 at 4:59 am Reply

    So, I have about $3,500 in credit card debt. What’s the best way to pay it off?

    Does anyone have any experience with those debt consolidation services seen on TV?

  75. Lance February 22, 2014 at 5:57 am Reply

    I have maxed 2 of my credit card. each at 18% p.a. if i take up a loan at 12% p.a. to settle both credit card & only make 1 repayment towards the loan.. is it worth it? from 1 point of view, its basically creating debts to settle debts. but on the other hand.. it is at a lower interest confused!

  76. Edna February 22, 2014 at 6:33 am Reply

    I’m 21 and have made some studip choices on getting credit cards and charging them up. I have $8000 in debt and am still in school. Is there any way to get this reduced or set up as one payment. I can’t continue to keep making the payments due to living expenses. Thanks.

  77. Wilbert February 22, 2014 at 7:43 am Reply

    one spot like one credit card with a good rate – even 8%. I have excellent credit and I am sick of sending out all these 25.00 payments to a bunch of different cards. Any ideas?

  78. Pat February 22, 2014 at 7:43 am Reply

    I have other bills and have 2 children to support. I work full time and my credit is not very good at all. I went bankrupt 2 times when
    I was married and was doing great but my son was in a terrible ATV accident and I was out of work for several months and lived on credit cards. Food, utilities, gas, and other things needed. My Ex and i share joint custody of our children but my kids do not go to his home very often. If I mention money my ex says he doesn”t make them stay with me. Turns into a big fight, My boys are both older (18 and 17) my oldest works but my youngest (the accident)
    he is struggling with school work(had a brain injury) and I dont want him to fail it’s his Junior year of high school. HELP???!!!

  79. Curtis February 22, 2014 at 9:06 am Reply

    I’m fed up with credit card companies. I’m in debt over my head trying to keep up with my payments. These credit card companies are nothing more than legalized loan sharks. I might have been late by one or two days and now I’m being charged between 25% – 29% on all of my accounts.

    I am barely making it, after I pay my bills every month I have nothing left. For about a month or two I’ve been thinking about chapter 7 or a debt consolidation program. I’ve been hanging in there trying to make my payments but what happened to me today has tipped the scales in favor of filing for chapter 7.

    I tried to make a payment today on my Best Buy account and I noticed I had been already charge a late fee. I was confused as to why I was charged a late fee when I was not late. Then I noticed my due date was changed to the 25th of every month instead of the 27th. When I called them up I found out my due date was changed to the 25th back in February and that I was unknowingly paying late charges ever since. I wanted to know why my due date was changed and if they could remove the late fees.

    I was given no explanation for my due date being changed and they refused to remove the late charges. They said they notified me of the changes and I should have known. I’ve been paying my bill on the 27th for 4years, and one month you decide to change it to the 25th how am i supposed to catch that.

    That was the last straw for these credit card companies for me. I want to file chapter 7 but I’m worried about getting another vehicle when my lease is up 2011. I was also thinking about debt consolidation but I’ve heard some bad things about these companies too. any advice would be greatly appreciated.
    I don’t need anyone to lecture me about running up credit card debt I know I did that. Just give me some good advice thanks

  80. Alonzo March 1, 2014 at 4:24 am Reply

    I am currently a junior in college and I desperately used credit cards to pay off college since financial aid didn’t cover it all so now I owe around 4,000 in debt. What is the best thing for me to do, since all of the accounts are closed, is there a college student credit card debt consolidation loan or?

  81. Ruth March 6, 2014 at 6:10 pm Reply

    I am on a budget, successfully last two years. Before then, we racked up nearly $9000 total in credit card debt on five cards. (home repairs, stuff). We have paid our credit cards on time, and have NO credit cards now. My problem, I am aggravated. Before my budget, I was late paying on two cards , and all cards jacked my rates to nearly 30%. So, even paying on time the last two years, the companies still deem me ‘risky’ since I only pay minumum. I still owe $9000!! I asked for a payoff amount, since half of what is owed is interest and penelties. They all say no, nor will they reduce the interest rate. (heck, they have a gold mine with me!) Anyone have luck with a letter asking creditors to take a lower payoff amount ?? I am caring for an ill son so i can’t work, and my husband’s job cut back so we are getting half of what we were earning. I don’t want to do debt consolidation, since they tend to be a scam. If I can’t negotiate a lower payoff amount, how can they?

  82. Brendan March 9, 2014 at 6:25 pm Reply

    I am trying to consolidate about $16k of credit card debt. Anybody know of any good websites to go through that wont screw me over? And is going non-profit really as good as it seems?
    I am behind on payments and I’ve already received letters from creditors. Do I go back and call the credit card company directly? What other steps can I take without using one of those consolidation companies?

  83. Doris March 11, 2014 at 8:37 am Reply

    I have a two credit cards that are almost at the max limit totaling 20K. I have been making the minimum payments but the interest rates are average of 6%. I am wondering if I should take out a personal loan to pay down half. Is that really buying me anything? Trying to look out for my credit score.

  84. Marlyn March 13, 2014 at 12:12 pm Reply

    I am thinking of dealing with Clear One Debt Relief and it sounds to good to be true. What makes me leary is that they want me to go delinquent on my cards before they will step in and they will take my payments out of my checking account each month. They say they can take my $15,350.00 credit card debt and reduce it 47% but they will not deal with the company’s until I am delinquent for at least 2 months and there is no guarantee that these company’s will take their offer. I want to read the contract but I have to sign up first. Has anyone else been screwed by any of these company’s?

  85. Rene March 16, 2014 at 3:52 pm Reply

    Ive heard various radio commericals pertaining to this topic. I have alot of credit card debt well over 20k i would say; however, my credit is pretty good (timely payments, no overcharges, etc…) My question…if i were to settle my debt as described in these radio ads; how bad would i hurt my credit?

  86. Emely April 2, 2014 at 11:50 pm Reply

    I am struggling with CC debt. Based on some info here, I called one of the co’s and said I was having a hard time and asked if they could reduce my interest rate. They said they couldn’t until August to review again. They said I needed to call the debt management department (I believe). However, I’ve read bad things about this but I have to do something.
    Another card company I called at least lowered my rate.

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