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The Benefits Of Credit Card Debt Consolidation

Posted by on Mar 9, 2013

tired of debt need debt consolidation and financial adviceAre you tired of making numerous credit card payments each month and failing to make progress on your debt reduction plans? Credit card debt consolidation might be the right choice for you. Debt consolidation companies offer numerous benefits to their clients, including interest and fee reductions and lower monthly payments.

  • Benefits
  • Skilled Credit Counselors
  • One Monthly Payment
  • Lower Monthly Bills
  • Fast Debt Reduction
  • Credit Counselors

Many individuals are not taught how to effectively manage their money while they are in school. The typical advice revolves around going to college and getting a good paying job. That advice doesn’t teach people how to control their expenses in relation to their income.

Credit card debt consolidation companies offer skilled credit counselors that can help you create effective budgets and control your expenses while paying off your existing debt.

One Monthly Payment

While you are on the program, you will enjoy making one reduced payment a month, which leaves more money in your pocket at the end of the month. The reduced payment is the culmination of efforts on the part of the debt consolidation company. Their trained negotiators will call your creditors and successfully negotiate the removal of excess fees and lower interest rates. Once a verbal agreement is reached, a formal agreement will be sent to your creditors in writing, which will lock in your total account balance and your reduced monthly payment.

Once the negotiations are complete, a final monthly amount will be determined by the consolidation company that includes all the monthly payments for your credit cards and a small monthly fee for the agency. This monthly payment will be less than your current total monthly payments and will save you money each and every month.

Fast Debt Reduction

The lower interest rates and fee reductions will allow more of your payment to go towards the principle. This will further reduce the dollars spent on interest and allow you to pay your bills off much faster than if you had stayed with your traditional payment plans.