Credit Card Consolidation
Credit card consolidation loan: Get out of debt faster
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December 06, 2001

By: Bev Dodd

Credit card consolidation loan: Get out of debt faster

If you have good credit, and want to pay off high-rate debt and make one affordable monthly payment, a credit card consolidation loan can be for you. See for yourself why a credit card consolidation loan could be the solution you've been looking for. We'll discuss this more below.

Buy Now, Pay Later...It sounded good then, but now you are stuck with a mountain of bills, outrageously high interest rates, late fees and penalties which lead to collectors calling you day and night. You, like millions of other credit card holders, have become stuck to your job, just so you can keep the collectors off your back. So what can you do? You can file bankruptcy and permanently scar your credit; or you can lower monthly payments with a credit card consolidation loan.

A credit card consolidation loan representative can help you: Consolidate credit card and unsecured debts into one monthly payment. Reduce payment amount by up to 50%- You choose the payment date! Stop creditor harassment- No more threatening phone calls! Eliminate late fees, over your limit fees, and have accounts re-aged. Consolidate bills without taking out a new loan!

With a credit card consolidation loan, basically, a lender lends you money to payoff your bills. You payoff all your credit cards and other debt, now your payments have all been consolidated into just one monthly payment to the lender, hopefully at a lower average APR than your current bills. Most credit card consolidation loans are given in the form of home equity loans. Some are personal loans at extremely high interest rates which aren't recommended because you are trying to get out of debt, not deeper into debt. Technically, since you are borrowing more money, you're not really getting out of debt, you just created more debt, but hopefully at a lower APR to pay your bills off faster, and that's the best reason for a credit card consolidation loan.

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About The Author:

Bev Dodd is a successful author and publisher of  Many have commented that her website offers the best recommendations, links and information on loans, mortgages and financing.

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