http://www.aboutdebtsettlement.com/debt/debt-consolidation/credit-card-debt-consolidation/ How does credit card debt consolidation work? Is credit card debt consolidation the best thing for your needs? en-us Sat, 26 Jul 2008 15:00:00 EDT Sat, 26 Jul 2008 15:00:00 EDT Weblog Editor 2.0 Let's say you go to a restaurant like...oh, Radius in Boston. Radius is a great place, but a typical dinner for two is about $200, minimum. Yes, you're buying the ambience and everything, but you can't possibly pay for that in cash. Not only is that a stack of bills and that looks, you know, gauche, but if you're like most people, you probably can't casually spend $200 on a meal, even if you want to really impress your date. This means, of course, that you're going to incur some credit card debt. You do that enough without having the proper income to support it and guess what, pal--you're gonna look into credit card debt consolidation eventually. Credit Card Debt Consolidation - The Basics Imagine having your interest lowered and the amount you pay out to the twin titans of Visa and MasterCard be less than it was when you were writing individual checks to each of them. Sound impossible? It's not if you get help from a good credit card debt consolidation program. If you have more than $10,000 in credit card debt, it can take up to eighteen years to pay off. A credit card debt consolidation firm will actually negotiate and basically refinance your debt, setting it up so that you pay a lot less per month but pay off your debt much more quickly. How do they do this? They negotiate with your creditors to get lower interest rates and lower monthly payments. Then you make one payment to the debt consolidation company, which they distribute among your creditors. This can save you 8-10 percent per card! More of your payment now goes toward the amount you really do owe instead of all that interest--and that can add up! And that's why you end up having your debt paid off in five years instead of a decade or more. (Yes, you read that right!) Now, where can you sign up for credit card debt consolidation? We provide a number of links on all of our pages to different firms that offer various forms of debt consolidation. Some recent graduates are looking for a student loan debt consolidation program to make sure they get the best deal possible. There are also a lot of homeowners looking to refinance and cover their various debts, which leads them to a debt consolidation mortgage. Another bonus when you opt for credit card debt consolidation? Credit counseling. A good debt consolidation program will offer credit counseling as part of the services they offer. They teach you how to use credit wisely and how to budget so you can stop the behaviors that got you in debt in the first place and develop good financial habits that can last a lifetime. For more information on credit card debt consolidation, credit card debt elimination, etc., just visit our "Related Resources" section. You can also find debt consolidation services that will work for you. Sat, 26 Jul 2008 15:00:00 EDT