Debt settlement and Debt Negotiation Company. This article will tell you

These companies will tell you that they do a difficult thing than debt consolidation companies. The debt settlement/debt negotiation companies charge fees for their services. And some of them will do nothing and run away from you.

The three methods that debt settlement/debt negotiation companies use are:
1. They require your monthly payments to debt negotiation companies. Then they don’t pass your money to Credit Card Company but they just put money to some kind of an account.
2. When your account is going to be charged by Credit Card Company. They will withdraw the money in ‘some kind of account’ and negotiate for settle your debt.
3. They claim that you will eliminate your credit card debt in six months or less and your credit score will not be lower.

I think it a smooth process likely to be best .But there are some problems here.

First of all, the credit card company may not accept negotiation. What little total of your minimum payments is less than 10% of your debt? Some credit card companies would rather take the tax write off then take so little money. In this case, the debt negotiation company takes their fee, credit rating is declined, and your money isn’t worth for this process! So you should avoid debt consolidation, debt settlement and debt negotiation organizations at all costs. You can get the same service, for less money and less hassle, at your local CCCS. CCCS is a member of the National Foundation for Credit Counseling, offers person-to-person counseling, and includes important budget counseling that will help prevent future problems.

Debt Relief Company. This article will tell you

Similar to typical Consumer Credit Counseling Services, debt relief companies offer advice of your credit card debt and your income, and plan your payment schedule that suite to you. They also negotiate with your credit card company for lower interest rates and minimum payments. Some of them call you the fees which they called ‘Donation’.

As with a Credit Counseling Services payment plan, you make one payment a month to the debt-relief corporation. One method some debt counseling services use to collect “donations’ is to keep the first month’s payment as a fee. So, your first payment is swallowed whole by the company, and you missed your first month’s payment on your new plan. Also, when you make your second payment, the debt-relief agency may not forward your money on to your credit card company for tip to 90 days. What happens in the time? Your creditors are harassing you at an ever-increasing pace and your credit, if it wasn’t in good shape before, is now completely trashed.

Why you should avoid profit credit consultant?

The first I suggested that you have to avoid the profit advisor. Many of credit advisor are scammed and cheated you. They come in three basic types:

1. Companies that provide a series of seminars that run $100 or more, that told you secret debt elimination.
2. Debt-restructuring companies that charge as much as $2,500 to take over the servicing of your debts.
3. Bankruptcy lawyers who run those tasteful television ads with the blinking graphics saying, “Stop the debt collectors in their tracks!”

The seminar is always told you that they have a secret to eliminate credit card debt but their secrets still basic following.
1. Stop charging and start paying cash.
2. Consolidate your debts to the credit card with the lowest interest rate.
3. Pay more than the monthly minimum on your cards.
4. Try to negotiate a lower interest rate with the credit-card company.
5. Consider a low-interest home equity loan to pay off the high-interest credit card.

You pay $100 for seminar but you receive about $30. The first two: you have to pay cash for reduce your debt, and you should consolidate your debt into the lowest rate. Don’t forget that credit-card companies often charge a fee for consolidation service that can be up to 6 percent of the balance that you will consolidate. You must consider both the lower interest rate benefit and consolidation fee. If not economical, you should don’t do it. I suggested that you should keep only one credit card for your convenience that you don’t carry cash too much when shopping, but don’t use in amount greater than your ability to pay, I usually use checking account that I don’t pay more amount of checking account I have.

The third is paying more than the minimum – that is basic technique more payment, lower cost. But the problem is you don’t have enough money to do so. The next method ‘negotiate lower interest rate’ sometimes works but subject to your credit card companies. The last is try home equity loans which lower rate and tax-deductible. This way also breaks your investment strategies because your homes as asset that will generate future cash flow but you use your asset to financing your credit card debt.

The second type of profit advisor is Private debt-restructuring companies that you pay to take over the whole process of paying off your creditors. They usually take a portion of interest saving that they can reduce as a fee; for the typical debtor, the fee will exceed $1,000 and may be as high as $2,500. This restructuring process can do by yourself and don’t pay more money to credit consultant. Moreover, some credit repair company is scammed which you should avoid.
The last type is the bankruptcy lawyer. I believe that you ever seen them in TV advertising, a smiling bankruptcy lawyer told you to hurry up and declare bankruptcy before the law changes and it becomes too late! So avoid all of these profit advisor type.

Don't drink alcohol – don't have credit card debt

Credit card and high-interest rate debt are the biggest hazard for most of people in this world. Sometimes the reason of excessive credit card use are night-club and gambling. In my research, if teenager at age 20-25 stopped smoking, alcohol, and gambling, they would increase money fro their retirement close to $2,000,000. Stop unnecessary Items can eliminate credit card debt. And take you away from illness of smoking and drinking alcohol.

I don’t care no matter you smoke until your lung look like black bag or how much you like the night club and play the slot-machine. A two pack of cigarette per day will take you throw away $1 million of money in the future. General Beer drinker throws away another $500,000. These costs do not include fees and interest charged that you face. Even though gambling sometimes is investment, but very high risk. This is a easy way to lost your money. Surely, casino needs the profit and they try to make you lose than win, so if you pay for gambling, your money will lose away rapidly.
Finally, all three of these habits are addictive, you may addict to these thing and pay for them more and more, it doesn’t like other expenditures such as travel, or vacation that not addictive. If you have addicted some of them, run away from them. It’s easy to say but hard to do. The important is your mind and determination to fight. In another way, I suggested that you should get into club that help you run far away from cigarette, alcohol, or gambling.
Recent studies show that the average American household carries almost $6,000 of credit-card debt. And The average interest rate that people face is around 14% (when prime rate at 7%). Imply that the average of monthly interest payment is $6,000 X 14/12% = $70. If you pay the typical minimum monthly payment on $6,000 of credit-card debt (usually 1.5 to percent of your debt), it will take many years to complete paying.

People like credit cards because of their convenience and marketing campaign impact credit-card companies. The companies lead us to believe that having the credit card can help you become more wealth. The big companies are offering us interesting promotion with high credit limit. And sometimes encourages you to buy things by point collection program – in example, if you have 500 point, you will get free concert ticket.

Anything that lead reduction of wealth is the worst thing. Credit-card debt plays that role, the largest reduction of your wealth. Therefore, purpose of this article is to eliminate any credit-card or other high-interest debt that you have by get out of the dangerous expense- smoking, alcohol, and gambling. Good luck for reduce your debt and see you in next article.

My suggestion way to reduce credit card debt

This article will suggest some way to reduce your debt. I think these ways can help you as much as possible. Check it!

Reduce Expenditures
Many people may not cut down their expenditure. Do you accept lower standard of living to reduce your debt? It’s questionable that your ‘need’ is really ‘want’ so you can cut it and still alive. Can you find item which to be reduced in expense? Some shopping like new bag, or new shoes don’t necessary for your life. Simple category of ‘want’ – not ‘need’ expenditure are Entertainment, travel, clothes, gifts, new car, and home improvement.

Pay Off Credit Card Debt
Eliminating credit card debt the way to pay off is finding an investment that earn equal or higher than interest rate of credit card debt. For example, if interest rate of credit card is 18%, you have to find investment that return at least 18%. I always use this approach in case of investment yield higher than interest rate of debt and I must have money too. In other word, if I have money, I will have select pay off debt or investment. Beware that It’s not make sense if you invest at 8% and still pay debt at 18%, in this case I pay off my debt first.

If you’re able to pay off your credit card debt in lump sum, you should pay off as much as you can for reduce you monthly fees. The faster you pay off the debt, the lower your overall cost.

Consolidate or Balance Transfer Debt
If you can’t eliminate your credit card debt in the same time, you might consolidate your debts or get into the process of balance transfer. These ways doesn’t reduce your debt immediately but they can make cheaper in interest charged.

Some guide to you is following:
Find a lower interest rate credit card. Apply for new lower and use your new credit card to pay the old one. In this way, your debt is now having lower interest rate. You can find credit card offer in

The other way is use home equity Loans. Home equity loans have two main benefits. The first is it’s often lower interest rate and the second is tax benefits, this is tax-deductible loan. But you must carefully use this way because home equity loan is long-term debt and you may lost your house if you can’t pay for it.

I want to advice you to get help from a nonprofit agency. They also give you suggestion of how consolidate loan, review your debt problem and help you to find lower rate debt.

Change Credit Cards to Debit Cards
Credit cards often lead you overspending; because you think it’s not your money. You should change it to your money - debit cards. I believe that you surely tend to more careful spending if you use debit card. Debit card is similar to ATM card but it does better because you can use debit card at a supermarket, department store, and many retailers.
You can’t spend if you don’t have any money in your balance. So debit card can prevent you for overspending. But some time your own bank may not offer you a debit card. In this case you have to change your bank account.

Use your own Savings to Pay your Debt
If you have your saving and want to get out of credit card debt, use it for eliminate credit card debt. The disadvantage of this way is opportunity to use your saving for investment will lower. You have to make the best decision for manage your credit card debt.

Borrow from Your Family

The last you have to consider to borrow with your family or your friend. Don’t laugh at me. This is true if you are unable to pay your debt. Borrowing from your family doesn’t mean that you borrow interest-free. Sometimes you can offer them an interest but lower than your original debt. And then you can cut cost of interest expense up to your relation.

Credit card debt trouble: Please contact credit agency

Do you have a problem that unable to pay your credit card debt?—If so, then your credit card company will sell your debt to a collection agency. If this process occurs, beware, your debt may increase because of fees onto your bill that collection agency will charged you. Debt of $2,000 may become $3,500 in three month. I want to suggest that the first thing you should do is get a copy of your credit report from nationwide credit agencies. You can get it online via the internet. Of course, they will charge a little fee. Credit agencies often get your credit history information from your bank.

The information of each credit agencies are below:
• Equifax Credit Services, PO Box 740241, Atlanta, GA 30374 toll-free: 1-1400-685-1111;
• Trans Union, PO Box 2000, Chester, PA 19022; toil-free: l-800-888-4213;
• Experian, PO Box 2002, Allen, TX 75013; toll free: 1-888-397-3742; www.experian.con

When you get a copy of your credit report, Check and review it, if something errors, you can claim it. And if all correct, you have to review when credit trouble began. When you can identify it already, try to negotiate restructuring payment schedule program with your bank or Credit Card Company. It’s important to let them know that you are seriously and need to pay back your debt. However, your default history of debt can’t undo – default is still default, but if you can pay debt in new schedule, surely it help you to be able to get credit in the future.

In another way, you should contact to a credit advisor, either, profit or non-profit advisor – it’s up to you. You can find the list of credit advisor by search engine or “yellow pages”. Credit advisor often suggest you to consolidate your credit card debt and find a lower-interest rate loan for you.

Eliminate the devil called credit card debt

In the recent year, the top story of American people is credit cards and overspending. Dr Robert D. Manning, a leading expert on the credit card industry, told that Americans people have $600 billion in credit card debt.

The American habits that often use credit card to pay goods or services are critical of economy especially, the credit card industry. Today credit card is easy to issue, everyone even teenager can have it. This article wants to induce people using credit card more carefully.

More than 60 million households in the America are having balances on their credit cards. This mean they cannot make a payment on their credit card debt balance and also having an interest charged. Now Credit card debt is problem that must concern in government policy. If you have a burden of credit card debt, you must reveal it – how it comes and find the way to eliminate your credit card debt.

In perfect case, when bill comes – I mean credit card bill – you can write check to pay full amount and don’t have any interest charged. You also don’t know how high the interest rate of credit card.

But perfect case is just a tale. The true story, you will unable to pay your bill because of burden of debt. You must use money for other such as annual dental work or annual health check and so lost ability to pay credit card debt that you overspending before. After you cannot pay off your balance you will learn that your interest rate is 17 percent. Very high amount of interest charged. However, you still need the new TV, Furniture replacement or something that need money. You use credit card again over again because you don’t have any cash enough. Your credit card debt gets higher and higher. Sometimes you can pay back a little amount each month but remember that interest rate is always top up all the time. So now you have a burden of debt and hard to reduce.

This situation is usual. Credit card debt is the devil of millions people, the number of filing for personal bankruptcy protection each year is rise over the time.

So what to do if your credit card debt is out of control? Read on this site for find out your answers.

Study store card as credit card debt

My database has information a lot of information about credit card, especially credit card debt and type of credit card. The first type that I want to tell is “All-purpose cards”, such as Diner’s Club, American Express, MasterCard, and Visa. The second type, called “store cards,” for use in supermarket or department store. Store card issue by department stores in their own cards and for makes credit sell for their customer. It does not include the transaction, such as gasoline companies, medical debt or utilities because all of these are categorized in special transaction. However, store card debt is like credit card debt because you don’t use cash for purchase things, but sometimes is unlike credit card because department store expects you to pay full amount (Not have any Monthly payment) and store card don’t have any interest charge. In my research, it suggest that the “store” debt usually owed by labor. But in our sample is too crude. It did not separately code the various types of charges, however, we cannot state with certainty the relative proportion of store credit card debt versus general open-account debt.

This is only abstract. My paper is currently reviewed as working paper. Thank you for interested in my article.

Use cash or credit card? It’s up to you.

Credit cards can be a devil or angel. It give you a convenience but It come with debt. In the right way you have to use credit cards in case of convenience-never use in case of not has enough cash. In other words, don’t use credit card to buy anything that you are unable to pay in the future. I want to repeat my point – Use credit card in case of convenience ONLY.

Please think with me. Let me show you how cash is the better way. Credit cards will allow you use future cash or cash that you don’t have now. This led people to overspending, furthermore credit card debt has increased over the time. Even though credit card have credit limit but the most use it exceed this limit. In above context, I said that credit card give me money and give me a burden of debt too, not only debt, but also high-interest top up. Surely, that debt is very hard to eliminate. So first reason for use your cash first is credit card has high interest top up. Although we all know this problem – I mean credit card debt problems. But in my or your life, sometimes, you inevitably use credit card.

The second reason is if you use cash, you will find that you spending less because it’s your money. You can imagine with me if you use credit card, it like you use other people cash that led you not carefully spending. In example, if you want to buy the latest Plasma TV and you don’t have enough cash, then you must take time to go to the bank or ATM. In this situation you will not buy this TV because inconvenience. But in other way, if you use credit card, you must pay for them after. I conclude that convenient use of credit card lead you more spending too.

Let me give you some simple question for help you decide to use credit card. “Will this goods or services help you in the future or make you richer?” Item, business, seminar, or course will increase your income in the future? I usually use my credit card for some safe investment which generates future cash flow to me such as inventory, offices supplies.

Eliminate credit card debt now because it makes you less happy

Debt is a thing that loses your dream, creativity and gives you a tension. If you have debt you must pay more than the amount owed, because of interest charged. According to the Federal Reserve Survey of consumer Finances for 2004, 46.2 percent of American have a balance on their credit cards. The average balance was $5,100. Moreover, teen tend to use credit card for purchase goods or services. Now credit cards are more popular and more type than in the past. Because the average balance is more and more in the future that mean people have more credit card debt-this is the main problem or American people. The most popular way to eliminate their credit card debt is work-hard to make more money-this way leads you to unhappy lives.

In my experience in the past, I had credit card debt but no money. I can’t found anyway to pay my debt. And as a result, I decided to join a twelve-step Debtors Anonymous group, which taught me about spending habits and why I am overspending people. Consequently, I can eliminate my credit cards debt. Currently, I have only mortgage loan for cars purchased. Today, I have more happy, more dream, and more creativity.

Thus, before you start eliminating credit card debt, review your spending habits. If you are overspending people, joining a Debtors Anonymous or Consulting with a credit-counseling or debt consolidation service. All of them can help you to reduce your credit card debt. If you can, I mean credit card debt is zero, you win. Furthermore, you become more happy like me. Good luck!

Consumer debt – the power of plastic card

Consumer debt is occurred by credit card, especially woman shopping. Not only you but most of woman have credit card debt. I know way to prevent credit card debt for woman. Sometimes you need to catch the trend such latest shoes, music, or meal rather than staying within a strict budget.

But to do so cause consumer debt that is truly trouble. The interest you pay on your credit card debt is not tax deductible and interest top up also high. Bad Credit card debt can affect your potential to afford a mortgage loans. Someone called credit card debt as financial cancer!

For now, here are a few tips to manage your credit card debt. If you have more than one plastic credit card, gather up all the bills. And review it! I make a sample list below.

Item Debt balance Interest rate
Clothing store $1,500 20%
MasterCard $1,750 15%
Dad $500 0%
Visa $2,100 8.9%

Congratulate yourself for exposing the truth about you and your credit card habits. You have two options. Make a plan to pay your debt but pay highest rate first and make minimum payment for the others. When your highest rate credit card debt is zero, you pay the second, the third, and so on. The second option, If you have good credit, consolidate all your credit card debt onto the one card with the lowest interest rate. Now, I observe that lowest rate in the market is 5%. You can check the website, or call 301-631-9100 for find the information of each credit card offers. Finally, don’t forget to check back your credit report, as it will be improving as you begin to pay off your debt on each credit card.

And now, if you can eliminate your credit card debt. Your chance of getting a great deal on a first- time home is became truly. But it subject to your credit history too. The credit history is also reflected by amount of credit card debt. The more amounts, the less credit score.

If you are feeling information overload, keep in mind that most people have specific challenges with their credit history in one form or another. This process isn’t about beating yourself up; this is about getting the facts and finding a way to make them work for you when it comes to gaining access to buying your first home. Even if you feel you are not totally ready to shop for a first home today, apply for a copy of your credit report and make a plan to review it thoroughly with a mortgage lender. Empower yourself with the facts today so that you may plan for your mortgage loan tomorrow.

Credit card: in economy perspective

The people always have three types of resources of interest: money currently being earned; money that has been earned in the past, and money that is likely to be earned in the future. Significant differences of these have disappeared in recent years. Money is money, which use as medium for buy goods or services. You pay for supermarket in cash, a new car in your long-term savings (past earnings which don’t use), and a home mortgage company will probably get at mostly future earnings via future principal and interest payments. The three entities above do not care what way of money comes from. Even past, present or future income. However, they induce people to spend present income. Past income, in the form of savings and investments.

But future incomes can expand the economic. It makes more liquidity or ability to sell if you accept the payment that not only cash but also future income, such as installment buying, some home loan, or especially credit. Credit card is some method that allows you to use expected future income for now-you don’t need any cash for going to supermarket. You may learn that using of credit card has some problem, if money that you expected doesn’t come, while you already use your future in come in credit card, you will be unable to pay their credit card bills in full. This problem has grown over the time. And people going to have burden of credit card debt that hard to eliminate.
The use of credit card is increasingly over the time. The main driver is e-commerce, like Amazon, or EBay that use credit card for purchasing. Some Cruise lines require lump sum payments that usually make payment by check.

However, this industry tends to accept more credit payment. For example, Princess Cruises lines earn much of money from the shops, the spa, and the casino, about 80% of these expense pay by credit card.

The economy growth is rapidly because of future expected income, people use future earnings in the present. But more rapidly tend to be more risky and more default rate-user of credit card is unable to pay their debt. Thus the method which helps people eliminating credit card debt is required. And people have to decrease use of credit card.
A decrease in such spending would affect the economy. Many banks have their credit card as their core business, so if use of credit card decline, they will bankrupt or restructuring and down-size to survive in business. Some retailers would disappear too because people don’t have ability to pay, and others would following fail. And the nightmare would come in form of depression or recession.

In the sums, I conclude that credit card is grease of economy. Use of credit card can boost up economy, but if people don’t carefully use it, credit card debt occur and unable to pay. Moreover economic could slow down.

Should you consider Debt consolidation?

You can stop paying high amount of interest by use balance transfer. However, if you have many high interest credit cards that contain a burden of debt which hard to reduce, you should use a debt consolidation loan.

You could combine some credit card account with high interest rate into one loan that has lower interest rate. For example, if you have three credit cards with high balances at 15 percent interest rate, you could combine all balances into one loan with an interest rate of less than let’s say 8%. However, it’s subject to your credit score.

You will not only save interest payment because of lower interest rate, but you’ll also eliminate your credit card debt to zero. You have only one payment in each month; this is conceptual of debt consolidation. Debt consolidation loans are often use for homeowners. By refinance mortgage, or use a home equity loan to make payment of credit card debt and consolidate the balances into the one.

The disadvantage of debt consolidation is transforming debt from short-term credit card to a secured loan that have mortgage as collateral. If you are unable to make payment for this loan, you lose your house. However, if you are able to make payments for this consolidation loan, you will save money from lower interest rate and your credit score still good.

When you read to this paragraph, I want to let you clear that debt consolidation loan doesn’t eliminate the debt, It’s just allows you to combine high-interest credit card debts one lower- interest Loan, so you still have to pay your debt but lower in interest rate. Before you start to consolidate debt you must make sure that fees, closing costs, and interest charges associated with the new loan is worthy- make benefit for you. Financial planner or consultant can help you to judge the loan is worthwhile for consolidate.

Credit card Debt consolidation loan: My suggestions

What debt consolidation loan is? It is just a consumer loan that you use to make payment in other debts. In other word, its process likes home refinancing.

Most often use in debt consolidation is a home equity loan. I have noted that a home equity loan is different from home refinancing because your mortgage isn’t affected. So you can have cash to meet your debt payment such as credit card debt by home equity loan. Moreover, if your home has value says $200,000, but you have credit card debt amount $150,000. So $50,000 is yours (but in another form of debt). Now, lenders will give cash up to 1.25 times of your mortgage, so in this case you get $100,000 after you eliminate credit card debt of $150,000. But I advice you not to take advantage of this 1.25 times offer because it’s so risky to do that. In other way you can borrow 70-80 percent of your equity value to reduce your burden of debt. It’s up to you MAKE decision that suite to you.

This approach may have benefit if interest rate of your own debt (in this case is credit card debt) greater than your consolidate loan (home equity loan). In example, If credit card interest rates is 15 percent or more, and your home equity is 8 percent. You’re save money in 7 percent interest payments. Furthermore, you have benefit of tax-deductible in the interest on the home loan (credit card is not).

Now you may have a question in your mind, “Will this really my credit card debt relief?”
The first point, if you use a home equity loan consolidation, you’re discourage what you’ve accomplished in make payment of your mortgage. In my opinion, the mortgage debt is better than unsecured credit card debt. However, home equity loans can be more cost than refinancing mortgage, though, thus you have to make decision carefully.
The second point is some debt advice experts will say that you shouldn’t use a home equity loan for the short-term expenses like credit card debt. You will lose your house because of your credit card. I suggest that you will use a home equity consolidation only if you’re surely paying it in the future. A home equity loan is long-term debt. To do this you’re putting your important asset as a pawn.

The last, I suggest you to don’t borrow more than your home value. It’s more risky if you borrow excess home value. The reason is your home values don’t always rise. If the market can turn down, your home price is drop and hard to know when price is rise or drop.

Credit repair: Aliza experience in credit repair company

People who are insufficient to pay their credit card debt will not have enough money to pay a credit repair company. Credit repair companies claim that they can eliminate bad transaction on credit report. But, credit repair companies actually can’t do it, credit companies do thing that illegally for adjust your report. But now, if there are mistakes in your credit report, you can eliminate bad credit card transaction by yourself.

My friend “Aliza” saw an advertisement for credit repair on the television. Her credit card record was a trouble thing - very bad. While she called, the company told her it could eliminate her bad credit card record. So Aliza pay a $300 down payment to hire this company for helps her. Three months later, There is still the same - she couldn’t get a loan because of her bad credit card record. She thinks she was vicked, so she put a hold on her bank account and the company wouldn’t receive any payment from this account. And then the credit repair company called me.

Credit repair companies often use two approaches for their business. The first is “bombardment.” This process is flood the credit bureaus with paper that describe every single item in your credit report is not bad transaction and try to use a law that credit bureaus must delete an transaction if it can’t be verified within 30 days. But, the same law allows creditors to put some item back, if it is verified. So even if a credit repairs company succeeds to do this. It’s doesn’t mean that you delete the bad credit forever.

Another is called “files segregation”. Some credit repair companies advice clients to apply for an employee identification number. For do this you can create a new financial identity by using this new number. But if you use this way, you’ll be three federal laws illegitimate. Of course, it’s illegal to apply for an employee ID number for the bad purpose.

Many credit repair companies don’t do the above of two. But what they do is receive your fee payment and don’t do anything – sometimes they ran away from you when they receive your money.

However, The Federal Trade Commission has enacted some law that credit repair companies must do it. Credit repair companies are not allowed to receive up front fee before they make any service to you. They must tell you that you have opportunity to cancel in 3 days. And they must give you a written contract that includes information about pricing, the services that they will do, time period to do, any guarantees, and the company’s official name and business address.

unsecured credit card debt consolidation, what is it?

The consolidation loans, unsecured very difficult to obtain. If you are perhaps a good option. Start with your bank or credit union and see what opportunities it offers loan consolidation.

Consolidation loans are suitable for a. Instead of writing 12 checks on all credit card payments per month, you can.
Suppose you have 12 credit cards with a total debt of $ 15,000. Their interests range from 7 to 21 percent. If you have a loan from the consolidation of the bank $ 15,000 on the interest rate of 8 percent, it would probably be better.
However, debt consolidation loans have some drawbacks. How refinancing loans, and at home, they charge you to take on more debt. If you do this, ultimately worse for them.