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Consolidating and eliminating credit card debt

Before pursuing any credit card consolidation program, ask your the following questions: If you are considering working with a credit consolidation company, you also want to make sure that you are working with a reputable company.

Check out their Better Business Bureau (BBB) profile. In Charge is proud to maintain an A rating from the BBB and accreditation from the Council on Accreditation.

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Then list all your debts (except your mortgage) and start paying them off smallest to largest regardless of interest rates.Ramsey says paying off one debt builds momentum to pay off the next. The theory has proven effective, though it requires discipline and sacrifice, two things that consumers were probably missing in the first place.To summarize: Traditional debt consolidation companies review your debts, income and credit score.If you are juggling multiple credit card bills, you may benefit from the convenience of having one consolidated monthly payment.Consider all of the bills that the modern household pays (mortgage/rent, utilities, cell phone, cable, internet, etc.).If you’d prefer to speak with a live counselor, call the number on the right.The debt snowball method was made famous by Dave Ramsey.Is bill consolidation through a debt management program free? If you work with a nonprofit organization, like In Charge Debt Solutions, you will pay a set-up fee (on average, ) and a monthly fee to maintain it (average ).It’s important when you consider debt relief solutions that you compare interest rates and fees.Additionally, whenever you take out a new loan, there are loan origination fees which can run into the thousands.Finally, if you are able to secure a debt consolidation loan with a low monthly payment, it may be at the expense of the repayment period: you may be paying the loan for a decade or longer.

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