Consolidating credit card debt 20
In fact, they expect to and they've already factored these losses into their rates and fees. Consolidating credit card debt makes sense for many, though it is not without its caveats.
Instead of having to write checks to 5–10 creditors every month, you consolidate bills into one payment, and write one check.
Their objective here is to get your lenders so desperate for some sort of payment that they’ll be more open to accepting a settlement deal.
That's where debt consolidation and other financial options come in.
Debt consolidation is one of the ways that credit card customers use to get out of financial ruins.
Consider the options for consolidating debt before making a decision.
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But note that if your payment is lower, you may be required to make payments over a longer period of time making this alternative more expensive in the long run.