Using Non-profit Credit Card Debt Consolidation Services Critical
For bad credit borrowers who are planning to consolidate unsecured credit card debts
by transferring their existing high interest multiple credit debt balances on to a new credit card with a low interest rate, a free non-profit credit card debt consolidation help is a must. The Federal Reserve recently enacted a set of rules to regulate credit card offers. This comes in the light of an increasing number of complaints registered by borrowers regarding hidden costs and certain unfair practices carried out by bad consolidation credit debt loan or balance transfer card issuers. Typically, a borrower can consolidate his credit card dues in many different ways as there are plenty of debt management solutions available. But it is thereby imperative for borrowers with a bad credit history to avail expert debt consolidation help which could ensure that they get the best deal on debt consolidate loans for doing away with their unsecured credit card dues.
One such unsecured loan debt consolidation type is the balance transfer credit card which has a low interest rate and which allows a borrower to combine all of your credit card dues and transfer it onto a new card. This kind of debt consolidation is ideally suited for those who possess high interest credit cards. Normally, lenders who offer balance transfer credit cards
Charge zero percent rates of interest as well as balance transfer rates as part of a promotional strategy for an initial specified period. However, there still exist some hidden costs in the form of extra service fees which is an abusive trade practice. Apart from this, once the initial time period is over, the regular interest rates are automatically applicable to the credit card which means that a borrower could be required to pay anywhere between 15% to 20% interest on the balance transfer credit card. Hence, borrowers with a bad credit are required to be cautious when applying for balance transfer cards.
Nevertheless, it is always recommended to use the professional online consumer credit counseling services provided by reputed service providers like DebtConsolidation123. This could enable you to get proper guidance which is required when you are out to consolidate your multiple high interest credit card debts and prevent you from being a victim of such unfair practices. Additionally, you could secure for yourself a debt consolidation solution which is highly affordable as well as favorable to cater to your financial needs and requirements.
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