With the In Charge debt consolidation alternative, Anne will be debt free in 4 years and 2 months.“Having lived with credit card debt my entire adult life, I cannot tell you what it means to me to be debt free in a few years.
Here are some signs that consolidating loans might be a good idea for you: Consolidating your credit card debt can help you pay it off faster, but choosing a credit consolidation company can be difficult.
There are a number of places you can go, from online lenders like Lending Club, to debt settlement firms like National Debt Relief and Oak View Law Group.
Enter your current balances, monthly payments and interest rates under Current Debt Information.
Enter the proposed interest rate and repayment period under under Consolidated Loan Information. The results will show you your current combined monthly payment as well as the predicted monthly payment under a debt consolidation loan.
Some people refer to debt consolidation as bill consolidation because consolidating your credit card debt has the effect of consolidating your bills into one. By calling a nonprofit credit counseling agency like In Charge, you can reap the benefits without taking on a new loan, including: not having to make individual credit card payments, less risk of missing a payment or paying late, fewer late fees, the ability to access lower interest rates for many of your credit cards.