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July 31, 2010
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Do credit card consolidation really work?
7 Nov2009
If you have used a company to pay off your credit cards please tell me which ones are the best and if it really works. Examples would be great. Like say I have 4 cards that add up to 5,000 dollars what would be the monthly payment and stuff
Written by Credit Card
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1 Response to Do credit card consolidation really work?
MadMan
November 10th, 2009 at 8:47 pm
All that I have heard is that they do not work. And some of them just stop payments to the card companies, trash your credit and then settle for a reduced amount. The better thing to do is, once you have paid the minimum on each card, pay the maximum that you can towards the card with the highest interest rate. Once this is gone, pay down the card with the next highest interest rate and so on. In addition, do not use credit cards again. This is really the best way to deal with your debt.
Good luck.