subject: Thoughts To Take Advantage Of Credit Card Consolidation The Smart Way [print this page] Financial hard times are hitting a lot of people, and families that were once doing okay are now choosing between buying groceries and paying bills. While we worked hard to get our credit scores, it's an easy decision to choose feeding your family. However, with the bills piling up for many of us, sometimes we might think of turning to credit card consolidation.
There are so many television and radio commercials offering to cut your payments down for you. How can you tell which are able to be trusted or not? While this can be a great service to go for, there are some key things you want to look at before committing to work with any certain agency.
The key piece of information before you even begin is knowing you much you owe to each card. By acquiring a payoff balance and due date from each one, you are well-prepared to start researching with company will work best for your personal goals. These can be found online or through references from family and friends, just be sure you to ask a lot of questions before starting the process.
When you think you may have found one, check their name and reputation with the Better Business Bureau. It can be hard to keep track of who is who with the barrage of advertising we see, and a very easy way to weed them out is to check their official client history. If you see a lot of complaints about customer service or promises not followed through, it's safe to say that you need to move on to someone else.
Non-profits are also not always cheap or free. There are hidden administrative costs you need to watch for, and if you're not careful, most of your one-time monthly payments will be going to pay those costs, rather than the bills you think they are. So just ask a lot of questions regarding how much of each payment is kept in-house, and make sure that is something you can live with as a client.
Also, you may consider calling the credit card companies yourself to work out a settlement. With so many people in the same position, these companies are more willing than ever to work with you and get your bill payment down to something you can easily manage. It is not effective for them to have to turn something over to a collection agency, and if you are willing to cooperate with them, they are willing to negotiate with you as well.
This is also a nice option because it removes the possibility that your credit limit will be decreased, or the card cut off entirely. Emergencies happen when we least expect them, and having a credit card in hand to take care of them can be a lifesaver. Working directly with the companies you owe also removes any chance of paying administrative or other hidden fees that may come up.
For individuals and families in hard times, credit card consolidation can be quite the salvation for finances. Making smart choices, being well-informed and gathering all the pertinent facts beforehand lets them know you are serious about handling the situation, and saving your credit score as well. Check references, verify information and with that in hand, you can look forward to a debt-free future and an intact credit history.
