subject: Credit Card Consolidation – A Legitimate Option For Managing Credit Card Debt [print this page] If you are becoming concerned about the amount of debt you are in but are not sure just how bad it is and whether you should get some help, ask yourself if this scenario fits your circumstances.
Are you an individual who does not like to answer the phone because you think it will likely be some creditors looking for money that you do not have.
Your credit cards may be the only specific means of paying your bills and they are coming to the end as their limits are almost to the maximum amount. Are you living on loans that are based on your income to make ends meet?
Maybe you are an individual who is so stressed because of money matters in your life and want a way out of the mess. Do you find that you only pay the minimum amount that is required on your credit cards because you can not afford to pay any more than that each month?
For any of the checks you have been writing, have any of them been sent back NSF and that makes you feel like a second rate citizen? There could be people hounding you for some funds from you and they are considering taking legal action against you. The people who you owe money to are there wanting more money from you per month than you can handle.
If the above sounds a lot like what you are going through then you many want to consider the following.
Debt consolidation is a good answer. You need to get someone to help you to put all your credit cards etc. into one payment so that on a monthly basis it will be more manageable for you. These people will contact your creditors and get your monthly interest payment lowered for you so that the payments will be affordable amounts each month.
You will not want the creditors to take all your assets from you so you need to get into action about this and call a credit counselor and they will go over your finances with you and try to help you with your spending practices and reduce your spending to a more practical amount each month.
If you continue on the way you are going you could be to the point where you will have to declare bankruptcy and you do not want to do that as then your credit rating will be at a zero level for many years. Not only that but it does cost to go bankrupt. You know you can not afford to do this no matter what. Talk to some friends and ask who they would advise to help you to put all your debt into one basket instead of having so many different places to send the money each month.
Credit Card Consolidation A Legitimate Option For Managing Credit Card Debt
