American Consumer Credit Counseling (ACCC) can show you how.
Often when your balances on your credit cards become too high, your initial reaction is to consider transferring the balances to another credit card with a low or zero interest rate.
This method to consolidate bills may seem like a simple solution, but there are several things you should know before pursuing this approach.
The best way to consolidate a large amount of credit card debt (anything over $3,000) without taking on a new loan, is to enroll in a Debt Management Plan.
Most financial experts agree that a Debt Management Plan (DMP) is the preferred method of debt consolidation.
Following the recent economic crisis, many people have considered credit card debt consolidation loans in an effort to pay down the balances and their credit cards.
While their attempt to reduce credit card debt is a step in the right direction, credit card debt consolidation loans are not necessarily the best way to get out of debt.A debt management program from ACCC is a great alternative to credit card debt consolidation loans and many of those other companies charge significant fees for consolidating credit cards.We charge only a small enrollment and monthly maintenance fee – no hidden charges, and no exorbitant rates. ACCC also provides free access to a wide variety of educational resources where you can learn more about credit card consolidation loans, how to create a workable budget, how to improve you credit score, and where you can get answers to questions like "How do I get out of debt? You make one convenient monthly payment directly to us, and we distribute the money to your creditors.We may even be able to get your creditors to lower your interest rates and reduce or eliminate late fee and over-limit fees.— into one bill and paying all of them with a single loan.