Credit Card Debt Consolidation: Getting Started FAQ's A good credit card debt consolidation program can help you not only with effective credit card debt consolidation, but also with medical bills, repossessions, and accounts in collections.
BigNews.Biz - Apr 14,2010 - Will a credit card debt consolidation program offer effective debt relief?
Yes, a good credit card debt consolidation program can help you not only with effective credit card debt consolidation, but also with medical bills, repossessions, and accounts in collections.
Are credit card debt consolidation programs the same as debt consolidation loans?
No, debt consolidation programs for credit cards, notably debt settlement and credit counseling, do not involve lending at all. Rather, it involves negotiating with credit card companies to reduce interest, overall payments, and/or settle the debts for less than you owe.
What are some common ways for consumers to consolidate their credit card debt?
Debt settlement / debt negotiation – This debt reduction option involves negotiating the principal balance owed by the consumer down so that it can be settled for less than the actual debt. It most cases the fastest and most cost effective debt consolidation option.
Credit counseling / debt management – This option involves negotiating the interest rates charged on the credit cards. Credit counseling plans typically last between 4 and 5 years.
Credit Card Debt consolidation loans – This option involves taking out a loan to pay off any outstanding credit card balances. Normally it is secured by collateral like your home or vehicle.
The bottom line is that credit card debt consolidation provides effective debt relief that can eliminate up to 50% of credit card debt in most cases. Credit card debt consolidation works fast, is proven to be effective, and can work for you.
To learn more about credit card debt consolidation and how to get started, please visit Federal Debt Relief Program at:
or by simply clicking on the "Federal Debt Relief Program" link located directly above the body of this article.