Sponsored Links

Featured Links

Other Topics
Sponsored Links





Quote of the Day

"Telephone, n. An invention of the devil which abrogates some of the advantages of making a disagreeable person keep his distance."

Ambrose Bierce



Recommended Products





 




 
Featured Debt Consolidation Articles

Home Equity Loan – Still a Better Idea Than a 401(K) Loan
Anyone who borrows money is always looking for the cheapest source of funding. That makes sense; no one wants to pay more in interest than is absolutely necessary. And anyone with a sizeable amount of debt, such as credit card debt or a student loan, ...

Home Loans – Identity Theft Protection Could Hurt Home Sales
Identity theft has been a hot topic in the news during the last few years. Just a month or so ago, forty million credit card numbers were compromised due to a computer attack on a credit card processor. Consumers are rightly concerned, as it can take ...

How Fixed Interest Rates Work
Interest rates are an important part of any loan or credit line. The interest rate that you have on your loan, credit card, or other credit line can seriously affect the total amount that you pay toward repayment; after all, that's how lenders make ...




"Consolidate, before it's too late."
 
Credit cards have revolutionized the purchasing experience since Diners Club released the first credit card in 1950.

It gave consumers limited credit that, at times, even surpassed their own personal savings. It allowed them to buy items they cannot usually afford with a straight cash purchase. It also provided the convenience of not needing to carry wads of dollar bills.

Thus, on the average, American households possess 4 credit cards or a total of 13 payment cards including debt cards and store cards aside from credit cards. There are, actually, 1.3 billion payment cards in circulation in the United States.

But if you think that credit cards have made the lives of modern American consumers easier, think again.

Statistics show that the average credit card debt for each household per month is $4,800. This lead to 1.3 million credit card holders declaring bankruptcy in 2003.

And if you still consider yourself unaffected by this, then consider this one: upon retirement, most Americans can only expect to receive about 37% percent of their annual retirement income because of debt payment, leaving them to depend on the government, family and charity.

That's scary. So before you find yourself in the same situation, it might be time to evaluate your credit card debt.

One way of resolving debt that you might consider is credit card consolidation.

So what is credit card debt consolidation?

In a nutshell, credit card consolidation is taking all your credit card debt dues and consolidating them into one monthly payment. This way, you don't have to worry about managing the payments individually. Aside from that, it may also provide you the additional benefits:

? Reduce interest payments ? Waive late and overtime fees ? Low monthly payments ? Debt relief in a shorter time ? Credit improvement ? Save more money in the long run

You will also need to know that there are actually two major types of credit card consolidation.

First is through a Credit Card Counseling firm. They assist consumers by consolidating all their monthly payments into one single payment and then disperse this to the creditors in behalf of the consumers until they are debt-free.

The other type is through a home equity loan or other secured loan. This is done by exchanging an unsecured debt (such as credit card debt) for a secured debt (a debt backed by specific assets such as real estate).

Now, credit card debt consolidation isn't a magic balm that will drive all your credit card debt malaise away. But it will make paying all your debt easier and might save you money in the long run.

About the author:

Author: Michael Colucci

For a list of 0% APR Credit Cards available today please visit 0% Credit Cards or www.aplus-credit-cards.com

(You are granted the right to reprint this article but the title and content must remain unchanged and the authors name and contact information must be included.)


Google


Debt Consolidation News

Finding Debt Consolidation Loans For Business Can Help ... - PRLog (free press release)
PR Log (Press Release) – Mar 11, 2010 – Many types of financial products offer credit facilities to the borrowers. Programs and plans are sometimes specially created to suit a certain segment of the loan market, and cater specially to individuals ...

Most Reputable Debt Consolidation Company - Researching ... - PRLog (free press release)
“…The economy is coming back from the downturn experienced over the last two years, and for consumers and the lending industry, this is excellent news. Unfortunately, the job market has not recovered completely and there are millions of people ...

Debt Management and Credit Card Debt Relief Success ... - PRWeb
For optimum credit card debt relief or debt management, using the right credit cards determines how much time it will take to pay off the entire debt, according to new findings by Accelerated Debt Consolidation, Inc. ( PRWEB ) March 11, 2010 – The ...

Take On The Challenge To Wipe Debt With Credit Card Debt Consolidation ... - TMCnet
A bad credit score is bad in itself and the affect it can have on one’s unsecured debt consolidation is something which everyone dreads. But millions of people today are able to avail bad credit debt consolidation services and face the situation ...