Credit Tips: Credit Card Debt Consolidation Tips

Posted On: January 1, 2006

Author: arthor brady
Posted: Sun Jul 11, 2004 12:54 am
Post subject: Credit Card Debt Consolidation Tips

11/27/2001 10:34 pm CDT

I have someone who is considering consolidating debt. Are there any experiences that can be shared in this area. is this a win win situation? what are the pros and cons of doing this? credit affects? not like they cant handle the payments but they are close to out of control. advise …

Author: Linda in VA
Posted: Sun Jul 11, 2004 12:54 am
Post subject: Credit Card Debt Consolidation Tips

11/29/2001 9:08 am CDT

I would not use a Consumer Credit Counseling agency - that is about the same thing on one’s credit report as bankruptcy. Suggest that they consolidate using a fixed line of credit or a consolidation loan from a bank or credit union. Refinancing a home with cash out is good if they have that ability. However, of course, none of this will do any good if they continue to run up CC debt on top of it.