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How Can I Do Credit Card Debt Consolidation?

Credit card debt consolidation really only means taking your bills and combining them into one monthly payment and there are several ways to do this. Typically the phrase applies to your unsecured credit card debt and sometimes even your mortgage, not utility bills and car payments. It is a term that gets over used in marketing pitches from all types of financial companies often making it seem more complicated than it is.

Generally, what’s important is that credit card debt consolidation:

1. Can make your life simpler by allowing you to combine several debts into one payment

2. It can be done several different ways depending on your situation

3. It can be done by several different types of companies

4. Its goal is to try and reduce your overall monthly payment

The first thing to determine is the type of debt solution you need and what you qualify for:

1. Do you own a home with equity that can be used to consolidate your bills by taking out another mortgage? – Yes? Then you may be able to refinance your mortgage and use that money to pay off your credit card bills so you are left with one home payment.

2. Are you in need of a little help with your bills but not in a dire financial situation? – Take a look at a debt management consolidation plan

3. Are you swamped in bills, falling behind fast and want to avoid bankruptcy? – Consider using a debt settlement consolidation program

Only you can decide which solution is best for you to achieve credit card debt consolidation and there are drawbacks and benefits to each method. What’s most important is to do some research and determine the best solution for you and then find an honest debt help company to assist you. I hope this website will help you get the answers you need.