Many people have trouble making these payments long enough to get all (or even some) of their debts settled. Before you sign up for a debt settlement program, review your budget carefully to make sure you are financially capable of setting aside the required monthly amounts for the full length of the program. Your creditors have no obligation to agree to negotiate a settlement of the amount you owe.
So there is a chance that your debt settlement company will not be able to settle some of your debts — even if you set aside the monthly amounts the program requires.
The ten points below can help you use a credit consolidation program successfully while avoiding common pitfalls that often catch people off guard.
If you’re thinking of consolidating credit card debt and you need an expert opinion to make sure it’s the right choice for you, we can help.
If you need help getting out of debt, you are not alone.
Although signs show an upturn in the economy, many Americans are deep in debt, and not everyone can work overtime or a second job to pay down that debt.
This helps eliminate mistakes that result in penalties like incorrect amount or late payments.
There are three major types of debt consolidation: Debt Management Plans, Debt Consolidation Loans and Debt Settlement.
Then focus on paying down the total balance on one card at a time.
Call Consolidated Credit today at or complete an online application to request a confidential debt and budget analysis from a certified credit counselor at no charge.
This is the number one mistake people make when they consolidate.
These are not quick fixes, but rather long-term financial strategies to help you get out of debt.
When done correctly, debt consolidation can: There are several ways to consolidate debt, depending on how much you owe.