Consolidate My Credit Card Debt

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ROSS

Joined: 03 Oct 2009
ROSS's page
Posts: 21

8 Magic Points

Subject: Consolidate My Credit Card Debt

Sat Oct 03, 2009 11:22 am

I want to know if I can just consolidate my credit card debt I don't want to refinance my home or use equity I just want one bill.

jassica

Joined: 13 Sep 2009
jassica's page
Posts: 76

10 Magic Points

Sun Oct 04, 2009 2:23 pm

Sure thing, we will try to get you some tips and advice on the options available to you and what you should consider.

The quick answer is that there are options. Which one you choose will depend on what your priorities are, so I will try to cover all of your options and let you decide the best course of action for your situation, but I can tell you that you can evaluate debt consolidation options that do not necessitate a loan.

The four primary concerns for most consumers are:
i) monthly payment,
ii) time to debt freedom,
iii) total cost, and
iv) the credit rating impact of the consolidation program.

Be sure to evaluate each program, relative to your prioritization of these factors.

jassica

Joined: 13 Sep 2009
jassica's page
Posts: 76

10 Magic Points

Sun Oct 04, 2009 2:23 pm

Since there are a variety of debt consolidation options, including credit counseling , debt negotiation/debt settlement , a debt consolidation loan , bankruptcy , and other debt resolution options, it is important to fully understand each option and then pick the solution that is right for you.

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* Disclosures:

Your personal details (name, email address and phone number) will be delivered to the company advertised on the Creditmagic after ve agreed to go for the counseling session by filling out the no-obligation form. However, it is your discretion to accept or reject their services.
Not all the creditors/debt collectors agree to trim down the outstanding balances, interests, and fees payable by the consumer.
Consumers working with the debt relief companies can still be sued by the creditors/collection agencies.
Debt relief services may have a diminishing effect on the creditworthiness of the consumer. The total outstanding balance may increase as the additional fees get accrued.
The overall amount saved by the consumer through the debt relief services is considered as taxable income by the IRS.