Think credit card debt only happens to irresponsible users?
Two out of every 5 credit card owners are in debt. That's about 70 million Americans carrying their debt from month to month, according to the Federal Reserve's Survey of Consumer Finances.
If you're not in credit card debt, there's a pretty good chance you know someone who is. With the rising cost of living and stagnant wages, credit cards fill a gap, and an event like a job loss, medical emergency, or new addition to the family can be detrimental to the balance of finances in a household.
Debt doesn't have to be the end of the world. There's one service that specifically helps with credit card debt – Consolidated Credit. They're a non-profit organization that helps consumers explore relief options for credit card debt. They make recommendations on the best option to use in your unique situation. They have an exceptional and highly-rated program that can help you avoid bankruptcy, protect your credit score, and get out of credit card debt faster.
Starting with a free debt analysis, a certified credit counselor will consider you for their consolidation service.
Credit card debt consolidation does 2 things:
- Lowers your total monthly payments
- Reduces the interest rates
There's always one idea that lurks at the back of one's mind when falling into debt on a credit card: I'll use my other credit card to pay it off! That's how the cycle begins.
Since Americans, on average, use three credit cards each, Consolidated Credit helps "consolidate" the debts of multiple credit cards into one monthly payment that's easier to manage.
They have direct connections with creditors in order to reduce or eliminate the interest rates applied to your debt to reduce total credit card payments by up to 30-50%. You could be out of debt in as little as 36 months – much faster than many DIY alternatives.
Also, just having an advocate on your side makes everything more manageable – once you apply, you'll receive a followup email from a representative from their certified credit counseling team to execute your personalized plan. There's no stressful negotiating with banks or collectors. They have relationships with American Express, Capital One, Chase Bank, Citi Bank, Wells Fargo, Discover, and more.
If you're unsure, the analysis is 100% free. Simply tracking all those debt collection letters and emails can exacerbate an already stressful situation – boiling them down to one reasonable payment every month could be what puts you on the path to a debt-free future.
No more anxiety around emptying the mailbox – with Consolidated Credit, you can start taking action towards paying off your credit card debt.