Best debt consolidating speed dating chester cheshire

15 Feb

For some people, it’s a smart choice that gets your debts organized while potentially lowering your monthly payments. When you take out a personal loan for debt consolidation, you receive funds to pay off all of your existing debt, like your credit card balances and high-interest loans.

You then make a single payment to your lender, rather than having to make multiple payments each month.

Otherwise that fresh start you're hoping for, with your credit card balances on 1 card, could just make a bad situation worse.

Here are the 5 best options for debt consolidation of credit cards, along with some advantages and drawbacks of each.

Cambridge Credit Counseling is a non-profit credit and housing counseling agency that was founded in 1996.

They provide various counseling services and financial literacy education to consumers across the country.

This debt management solution may be helpful for consumers with many outstanding debts, especially if they have debts with high interest rates.Keep in mind that this is different from debt settlement in that you’re not negotiating a new amount owed.Instead, you keep the same amount of debt but pay it off in a different way.So it's smart to be cautious if this is your plan for debt consolidation.What you need is a card with a limit high enough to accommodate your balances and an annual percentage rate (APR) of interest low enough to make consolidation worthwhile.