subject: Signs You Need A Credit Card Consolidation Company Quick! [print this page] There are millions of Americans drowning in credit card debt and it seems hopeless they will get out anytime soon. Unfortunately, we want things right now. From that big car to that 52" television set, we need it now! Gone are the days where we save up for big ticket items. Credit cards have made it possible to acquire our toys before we think about the consequences down the line. If you are in deep debt, you might want to consider a credit card consolidation company. Here are some signs you need to find one fast.
You Can Only Pay the Minimum and No More
If you are just paying the minimum payment because that is all that you can pay, you need to contact a credit card consolidation company. Paying the minimum payment is a sign that you are over extended in you bills and may have a credit score that won't qualify for a consolidation loan. If you are just paying the minimum it could take years and thousands of dollars of interest payments to pay it off.
You Are Paying Late Fees
If you are paying late fees, this means you are having trouble paying the minimum balance on time. If you are late with payments, the credit card companies can increase your rates. Instead of that 12% rate you had when you opened the account, you are now paying 28% interest. This high rate combined with the late fee will make paying down your debt in this decade an impossibility.
You Can't Save Money
Having a savings plans is a great financial strategy. You will need money for a rainy day and retirement. If you have high unsecured debt payments each month, you cannot maximize your savings. Cash you are putting towards maxed out credit cards you can't even use anymore could be used to fund savings and kids education funds. Being unable to save money is a sign you need to find a credit card consolidation company quick!
