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Credit Card Consolidation Help

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Troy Said:

credit card consolidation or, just find a 0% card for 6months..???

We Answered:

http://localwebpro.ecreditdirectory.com/

Here is a credit card offer for 0% for 12 months on purchases and balance transfers.

To answer your question I'd really have to know how much this person owes and what their current payments are. Also, what amount they can afford to pay. This information would be really helpful on determining what would be the better course to take.

You can also look into prosper.com they loan to people for any reason on a 3 year term. Interest rates are bid on based on your credit profile and personal story posted kinda like a classified ad.

Josephine Said:

Can anyone give me some info on credit card consolidation?

We Answered:

It is a sad fact of life that many of us do not know how to budget our spending on our credit cards. We see the limit on our cards and seem to think that we have to spend all of this money in the next 24 hours, otherwise they may take the card away from us! We then spend the next 4 years trying to pay back all the debt we just accumulated. All of this stress is then compounded by the fact that we have to make, at minimum, the minimum monthly repayment to the credit card company.



To avoid this, and to try and find a way to source our debt at a lower cost many of us turn to the option of consolidating all of our outstanding credit card debt as a personal loan, which we then pay back monthly.

Although both of these debts are similar in nature, i.e. unsecured, the personal loan method is much cheaper than the credit card debt. So, if you have credit card debt outstanding that you believe will take you more than 1 year to repay, the time may well have come to consider the third reason why it may be more beneficial to consolidate your credit card debt as a personal loan.

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