Credit Card Debt Consolidation Tips

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Posted: Wed Jan 12, 2005 11:17 pm
Post subject: Credit Card Debt Consolidation Tips

Tom Arnold
Date: 8/11/2000 4:50 pm CDT

I have 3 separate accounts with mbna which total over 30k.

I need to lower my interest rates and get these paid down. any advice?

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archive
Posted: Wed Jan 12, 2005 11:18 pm
Post subject: Credit Card Debt Consolidation Tips

Board Monitor - AD
Date: 8/12/2000 1:39 pm CDT

Dear Tom,

There are several options to consider:

1) If payments are to high, see if you can negotiate directly with your creditors for lower monthly payments and perhaps lower rates, and make sure that they don't report such action to your credit report.

2) Transfer balances to lower rate credit cards - remember, the lower the rate you pay, the faster your balances will decrease.

3) Go through the "Debt Management" section in http://www.creditcardfreedom.com, there you will find lots of tricks and tips for credit card debt management.

4) If all else fails, consider contacting a credit counselor.

Good Luck!

Sincerely,
Alex D.
http://www.creditcardfreedom.com

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CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!

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