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What is the purpose behind consolidation for debt from credit cards?
Wiki User
∙ 10y ago
The main purpose behind consolidation for debt from credit cards is to combine all the debts into one payment and sometimes to lower the interest rate.
Wiki User
∙ 10y ago
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Can you use other credit cards when are in a proccess of Debt Consolidation?
It is not recommended to apply for new credit cards or use the ones that you told the debt consolidation company that you can't afford the minimum payment. What is the point of using credit cards when you are trying to get out of debt? If you use any of the cards that are in the process of debt consolidation, the company can end your contract and what are you going to do to get rid of your debt?
Do you have to include all credit cards in a debt consolidation?
No matter what company that you decide to go into, they will put up your credit report to see if you are eligible for debt consolidation. However, not all of them approve debt consolidation plans from credit counseling especially bank credit cards. First it will be a 3 month wait to see if they actually approve the credit counseling plan. After that, you will see payments begin posting. I will not agree to anything about no debt consolidation unless it is in writing and I can fax over my credit statements.
What are the benefits of consolidation credit cards?
The answer to the question about the credit cards is that this information is obtained from the concerned department of the company. Moreover such information can be useful in day-to-day lives.
Where can you apply for a consolidating credit card?
There is no consolidating credit card, but if it's consolidation for credit cards then there are various means to achieve that. Through banks and other financial support groups you can apply for a credit card consolidation to simplify and even perhaps reduce repayment costs.
Are there any debt consolidation loans for people with bad credit?
Yes, there are plenty of debt consolidation loans for people with bad credit. These are especially designed to get all your loans and cards into one easy monthly payment.
Can you use other credit cards when are in a proccess of Debt Consolidation?
It is not recommended to apply for new credit cards or use the ones that you told the debt consolidation company that you can't afford the minimum payment. What is the point of using credit cards when you are trying to get out of debt? If you use any of the cards that are in the process of debt consolidation, the company can end your contract and what are you going to do to get rid of your debt?
Do you have to include all credit cards in a debt consolidation?
No matter what company that you decide to go into, they will put up your credit report to see if you are eligible for debt consolidation. However, not all of them approve debt consolidation plans from credit counseling especially bank credit cards. First it will be a 3 month wait to see if they actually approve the credit counseling plan. After that, you will see payments begin posting. I will not agree to anything about no debt consolidation unless it is in writing and I can fax over my credit statements.
What are the benefits of consolidation credit cards?
The answer to the question about the credit cards is that this information is obtained from the concerned department of the company. Moreover such information can be useful in day-to-day lives.
What does bill consolidation consist of?
Bill consolidation helps you to get out of debt. It helps to lower different interest rates on credit cards and other expenses.
Where can I find good credit cards debt consolidation in Boston?
Boston Credit Card Debt Consolidation is one place boston.massdebtconsolidation.com 198 Tremont Street, Boston - (617) 401-8439
What is meant by a consolidation personal loan?
Consolidation personal loans are used to pay multiple debts from just one single payment. They can be used to pay the debts of multiple credit cards, loans and store cards.
Where can you apply for a consolidating credit card?
There is no consolidating credit card, but if it's consolidation for credit cards then there are various means to achieve that. Through banks and other financial support groups you can apply for a credit card consolidation to simplify and even perhaps reduce repayment costs.
Are there any debt consolidation loans for people with bad credit?
Yes, there are plenty of debt consolidation loans for people with bad credit. These are especially designed to get all your loans and cards into one easy monthly payment.
Is it best to pay off my credit cards or pursue debt consolidation?
Unless you have a very high amount of debt, it is usually best to pay off your credit cards. Although it is widely advertised as being "cheaper," debt consolidation often results in higher interest payments.
Can someone explain what credit consolidation services are?
A credit consolidation service takes the different accounts such as credit cards where you have outstanding balances, pays them off, and provides you with a lower interest rate on a single loan. It is helpful if you have gotten over your head in debt.
Where can I find information on debt consolidation for credit cards?
You can find information online at www.capitaldebtsettlement.com or credit counseling services like A New Horizon (www.anewhorizon.org)
How will a consolidation loan effect my finances with $20,000 in credit card debt?
A consolidation loan will pay off all of your bills and give you one payment. This program will only really work if you cut up your credit cards and have discipline.
