Best debt consolidating companies
When you work with nonprofit debt consolidation companies, you're not taking out a loan to pay off your bills.
Instead, your credit counselor works with your creditors to consolidate your debt into one convenient monthly payment.
With a balance transfer credit card, you can move existing credit card balances to a new credit card account.
Since balance transfer credit cards offer super low introductory interest rates — sometimes 0% — for a specific number of months, you can pay the entire debt off with virtually no finance fees added (though many charge a transfer fee of about 3% to 5% to absorb the debt).
Their counselors can help you develop a plan to pay the balances in a single monthly payment, and in some cases, reduce interest and eliminate extra fees.More so, consolidation may reduce the finance fees you’re currently paying and sometimes even increase your credit rating.But before you say, “sign me up,” get to know the different methods of debt consolidation, and how they may — or may not — help you with your financial and credit goals.Their debt assistance programs are low-cost and in the case of severe financial hardships, the fees are often waived.Many free financial resources are available through non-profit debt consolidation companies, such as personal financial workbooks, budgeting worksheets, and debt calculators.
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Are you ready to start an effective debt management plan for paying off credit cards?