Consolidated credit companies are another name for credit counseling agencies.
They advise consumers on budgeting and discuss options available for eliminating debt.
Consolidated credit companies, like credit counseling agencies, usually point consumers at debt-relief options like a debt management program, debt settlement, a debt consolidation loan and, in extreme situations, bankruptcy.
With credit consolidation, you take out a new loan and use it to pay off smaller loans.
If you are juggling multiple credit card bills, you may benefit from the convenience of having one consolidated monthly payment.
Consider all of the bills that the modern household pays (mortgage/rent, utilities, cell phone, cable, internet, etc.).
What is it about credit card debt that makes it so much worse than other types of debt?
I mean, all debt has moments of being tough to deal with…but none quite like the feelings that credit card debt can bring on.
Remember, you’ll need to not only put together a budget, but stick to it as well.
Before you do, let's take a look at the pros and cons of each option.
With a credit card consolidation loan, you work with a lender to combine all of your unsecured debt into one monthly payment.
Besides being expensive (and often coming with unnecessary feelings of shame), credit card debt can be so darn .
Other types of common debt, such as student loan debt, auto loans, and mortgages, all come with an end date.