Consolidating credit card debt for students

19-Jan-2020 10:28 by 6 Comments

Consolidating credit card debt for students

Here are the top things you need to know before you consolidate your debt: But here’s the deal: debt consolidation promises one thing but delivers another.

Get the facts before you consolidate or work with a settlement company.You are only restructuring your debt, not eliminating it.You don’t need debt rearrangement, you need debt reformation.But let’s be honest: Your interest rate isn’t the main problem. This specifically applies to consolidating debt through credit card balance transfers.The enticingly low interest rate is usually an introductory promotion and applies for a certain period of time only. In almost every case, you’ll have lower payments because the term of your loan is prolonged. Your goal should be to get out of debt as fast as you can!Once their fee is accounted for, they promise to negotiate with your creditors and settle your debts. Well, the debt settlement companies usually don’t deliver on helping you with your debt after they take your money.

They’ll leave you on the hook for late fees and additional interest payments on debt they promised to help you pay!Debt settlement is a scam, and any debt relief company that charges you before they actually settle or reduce your debt is in violation of the Federal Trade Commission.When you consolidate your debts or work with a debt settlement company, you’ll only treat the symptoms of your money problems and never get to the core of why you have issues in the first place. Determining which Debt Assistance option is best for you will be a key factor in your success.In fact, student loan debts are considered the next debt crisis. Once you have your information together click here to securely enter your information online. Something has to change, and you’re considering debt consolidation because of the allure of one easy payment and the promise of lower interest rates.