Consolidate your Bills for a Better Tomorrow: Why Consolidation of your Credit Card and other Bills is the Best Choice
Consolidate Bills: Consolidating Debt and the Credit Card Crunch
Do you ever feel like debt is taking over your life? Does it feel like every time you pay a bill another two arrive in your mailbox?
If you’re like most of us, then you have struggled or are struggling with controlling the debt that threatens your daily life. Every time you turn around there is another credit card warning, another upcoming payments and another overdue letter.
Consolidate Bills – Combine Your Credit Cards
Your letter box fills like a paper mill with all the different bills piling up. Each day you are adding more bad credit to your name and the interest continues to grow. With the house repayments, the electricity bills, the car loan and insurance, the phone and internet bills and, of course, the numerous credit cards bills, it may seem like, for every step forward, you are taking two steps back.
If you feel like this, it may be time to look into consolidating your debt.
You cannot erase your past purchases; however, you can do the next best thing with debt consolidation.
Basically, debt consolidation is a way to bring all your payments into one easy payment per month. Debt consolidators will look at your personal financial situation based on your income and lifestyle. They can lower your interest rates and minimize your late fees. They can even get those pesky debt collectors to stop hounding you with their phone calls, threatening letters and even knocks on the door.
However, one stipulation of consolidating your debt is that you have to stop spending. This means you need to crunch that credit card, literally. Grab a pair of scissors or put that credit card in a locked hiding place and take away the key.
Goodbye Unwanted Bill; Hello Debt-Free Life with a Consolidation Plan
A debt consolidator will make up a contract between you and the company. You decide how much you pay per month and even on what day to pay it depending on your income. One easy bill each month and you are on your way to a debt-free life.
Stipulations of Consolidation
With the financial crisis, it’s easy to miss a monthly payment on your debt consolidation plan. If this is the case, you need to speak with your debt counselling credit team and inform them that you cannot make the payment. They can restructure around this.
However, if you continue to miss payments without any explanation or simply want off the debt consolidation plan, then your debt counsellor will close your account and things will return to the way they were; multiple bills, late charges and interest rates; and pesky debt collector phone calls.
Debt consolidation is the optimal way to clear your debts, especially if you cannot clear your debt within five years. So, if you feel like you’re knee deep in debt, stop the up-hill battle and opt for consolidation that will get your back on the right spending track.