Debt management plans are offered by professional credit counseling agencies, which inform your creditors that they are assuming your accounts.
Credit cards, while convenient, make it easy to get into and stay in debt.
If you have debt across multiple credit cards that you’re repaying, you may be able to reduce the interest and fees you’re paying by consolidating them into one account.
You have several options for reducing your debt burden.
You can enroll in a professional debt management plan, or consider rolling several of your debts into a new consolidation loan.
For your credit utilization ratio to have a good effect on your credit score, it needs to be within the 1%-30% range.