Consolidating debt and credit score

06 Mar

Debt Consolidation without a loan is an innovative solution by In Charge Debt Solutions.

We take the work out of debt management through debt consolidating: combining your payments into a single, predictable monthly payment. The average credit card interest rate is around 15% APR.

These are not quick fixes, but rather long-term financial strategies to help you get out of debt.

When done correctly, debt consolidation can: There are several ways to consolidate debt, depending on how much you owe.

Consolidated credit companies, like credit counseling agencies, usually point consumers at debt-relief options like a debt management program, debt settlement, a debt consolidation loan and, in extreme situations, bankruptcy.

With credit consolidation, you take out a new loan and use it to pay off smaller loans.

This helps eliminate mistakes that result in penalties like incorrect amount or late payments.

There are three major types of debt consolidation: Debt Management Plans, Debt Consolidation Loans and Debt Settlement.

Consider all of the bills that the modern household pays (mortgage/rent, utilities, cell phone, cable, internet, etc.).By combining your existing bills into one new, monthly payment, you’ll be able to pay off most of your debts and work on becoming debt-free for the long term.But if you’re one of the many consumers with bad credit, you may be wondering whether you even qualify for a consolidation loan.Other benefits may include lower interest rates from your creditors, waived fees, stopping the collection calls and paying off your debt faster than on your own. She graduated with a small balance on two cards: 00.Here are five reasons you should consider In Charge debt consolidation: According to data from the Federal Reserve, approximately 37% of Americans carry a credit card debt balance from month to month. As a new teacher, Anne signed up for 2 more credit cards at her favorite clothing stores to pay for a professional wardrobe, accumulating 00 more in debt.