Consolidating credit card debt companies

06-Sep-2016 16:03

(To learn more about managing credit card debt, see out topic on getting out of credit card debt.) Consolidating your credit card debt essentially means combining all of your debt into a single loan or paying your creditors through a single monthly payment.

If you have multiple outstanding credit card bills, for example, a debt consolidation loan could be used to pay off those bills, leaving you with only one monthly payment.

If your bank has turned you down for a loan, your financial pressure is mounting, and you really need to consolidate all your payments, then you would likely benefit from speaking to a non-profit Credit & Debt Counsellor. Credit Counsellors are simply money and debt coaches who typically really care about helping people find solutions to their financial problems.