Consumer counseling credit card consolidating credit debt
Learn about the best nonprofit credit and debt consolidation programs that can help you consolidate your bill payments and become debt free.
Consolidated credit companies, like credit counseling agencies, usually point consumers at debt-relief options like a debt management program, debt settlement, a debt consolidation loan and, in extreme situations, bankruptcy.With the debt management program, all of your payments are consolidated into one monthly payment that you pay to In Charge. In Charge helps you secure lower interest rates on many of the credit cards you do have (with exceptions), meaning that more of your monthly payment will go to pay off the balance, and less to interest. The In Charge debt management plan is designed to help you get out of debt in 3-5 years, paying less than you would if you continued on your own, or even with traditional debt consolidation with higher interest rates.When you work with a bank or other for-profit debt consolidation firm, you will pay fees in the form of interest and loan origination charges to secure and maintain a debt consolidation loan.They are simply helping you bundle your payments and make them on-time, and helping you lower your interest rates, despite a poor credit history. Start online credit counseling to see if you qualify for our debt consolidation alternative.During your free counseling session, we’ll help you identify the root cause of your financial problems.
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If you qualify for a debt consolidation loan, they will discuss terms with you which will include the repayment period, the interest rate and the monthly payment.