Credit Card Consolidation

Many Americans are drowning in credit card debt. The average American household has over $15,000 in credit card debt according to statistics from the federal government. This means that millions of Americans owe tens of thousands of dollars and are far above the national average.

Many consumers have more than one credit card, carrying maximum balances on several cards at once, juggling their debt as they try to pay bills, buy groceries and so forth. Add in people with department store credit cards, such as a Macy’s Card, Best Buy Card, etc., and some people owe close to $100,000 due to credit cards.

This type of debt can ruin your finances, especially if you’re paying just the monthly minimum. The government even passed legislation to show consumers how long it will take to pay off credit card debt if they make minimum payments to show how futile it can be. Credit card debt consolidation means taking all of your credit card debt, from every card, and paying one affordable monthly payment on all of them. The easiest and most common way of doing this is through a consolidation loan. You would borrow money to pay off all of these cards, and then pay back that loan with an affordable monthly payment. The benefits of such a program include lower monthly payments that will free up money in your budget, as well as the simplicity of one bill to track. Instead of juggling multiple bills from multiple cards, you have one payment to keep track of, one bill to budget for.

Another vital benefit to remember is the interest rate. Getting a lower overall interest rate can save you thousands, even tens of thousands of dollars over the life of the loan. Consolifi can help you find the most effective debt resolution option for your financial situation, which includes the option of consolidating your credit card debts. As a performance-based debt resolution company, our goal is to help you eliminate debt as quickly and painlessly as possible. Performance-based means Consolifi doesn’t get paid until your debt is taken care of to your satisfaction.

Credit card consolidation can offer lower monthly payments, but it also may take longer to pay off your debt overall. For many consumers, the answer to their debt problems lies with their income. Some people have lost their jobs, which results in drastically lower incomes and thus their debt resolution program must comply with this reality. However, there are people who need their budget reworked as they are spending money in the wrong areas.

At Consolifi, our debt resolution professionals can analyze a consumer’s finances and suggest the best debt options, including credit card consolidation if it is appropriate. Consolifi adheres to only the highest standards of debt resolution, as it is compliant with all Federal Trade Commission standards and is a member of the American Fair Credit Council (AFCC) an organization of debt resolution companies that holds the highest principles in the industry. Our team of experts is experienced and trained to know what debt resolution options will solve any and every debt problem. For a thorough evaluation, call our team today at 888-425-7594.