In order to pay off the debt within that time frame, your payments could be anywhere from 0 to 5 each month.
To make this option work best for you, you need to know you can make those kinds of payments.
Weeks holds a bachelor of science degree in business administration, management information systems from Salem State University. 'Credit Wise' archive All options will do what you want in terms of paying only one monthly bill, assuming you do not use the cards for future purchases.
And yes, I do believe it can be a good idea as long as you do your homework and choose the option that will work best for you.
Credit Counseling offers one of the most common and legitimate ways to get your credit card bills reduced and under control with a single consolidated monthly payment.
There are benefits and drawbacks to working with a credit counseling service.
With more than 20 years experience in the nonprofit credit counseling industry, Kevin Weeks joined the Financial Counseling Association of America (fcaa.org, @Trust FCAA) as its president Dec. Weeks has extensive knowledge of both the credit counseling industry and the FCAA organization, having served in leadership positions for three of its member agencies and on the FCAA board of directors.
There is no one true “best” way to eliminate credit card debt, as doing so all depends on your individual situation.
These are not quick fixes, but rather long-term financial strategies to help you get out of debt.
When done correctly, debt consolidation can: There are several ways to consolidate debt, depending on how much you owe.
As justifications for suspect economic decisions go, this certainly has some validity that cannot be argued.
While the interest paid on bank loans attached to primary residences has always been significantly lower than anything beyond the introductory rates of credit card accounts, the succession of historic lows has meant that even those well heeled Americans with near perfect credit scores and enviable salaries who don't carry a penny more revolving debt than they prefer might save money by refinancing a mortgage taken out four or five years ago.