Best method to consolidating credit cards

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.

The truth is debt consolidation loans and debt settlement companies don’t help you slay mammoth amounts of debt.

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Dave says, "Personal finance is 80% behavior and only 20% head knowledge." Even though your choices landed you in a pile of debt, you have the power to work your way out! The solution isn’t a quick fix, and it won’t come in the form of a better interest rate, another loan, or debt settlement.

The solution requires you to roll up your sleeves, make a plan for your money, and take action!

In fact, you end up paying more and staying in debt longer because of so-called consolidation.

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.

Large credit card banks are willing to work directly with you shortly after you miss a payment.

Hardship payment programs are a bank’s loss mitigation effort for credit card debts. I cover the many issues with missing payments, and hardship repayment plans in general, in more detail below.

The first step is to talk to your creditors about your situation.

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