Consolidating credit card debt with chase

There are clearer benefits to using debt settlement as a method to resolving debts placed with a collection agency or sold to a debt buyer. Depending on your perspective, this fact can be seen as a major strength, or a huge weakness. The limitations on who can budget to repay their debts through a counseling agency make the lines less blurry for you, and for the counselors that pick up the phones at these companies when you call in.

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Ideally, that new debt has a lower interest rate than your existing debt, making payments more manageable or the payoff period shorter.

Options to consolidate your credit card and other debts include a balance transfer credit card, an unsecured personal loan, a home equity loan or line of credit and a 401(k) loan.

For example: You have ,000.00 in unsecured debts and you are able to get your monthly payment down to 0.00 by enrolling in a credit counseling service.

You make payments for 6 months, but then something unexpected occurs preventing you from continuing with the plan. That money could have been used to help fund one or more negotiated settlements, or more than covered the costs of a chapter 7 bankruptcy filing.

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Credit counseling is one of the least confrontational ways to get credit card debt relief.

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