Frequently Asked Questions about Credit Cards Debt Consolidation

Here are the answers to the most commonly asked questions about credit cards debt consolidation.

What is credit cards debt consolidation?

Credit cards debt consolidation is a service that combines your many, high-interest credit card debts into one, lower monthly payment. Your credit cards debt consolidation service will have pre-negotiated reduced interest rates with most major creditors when you sign up. These rates are available only to credit cards debt consolidation customers and not to the general public. When you sign up, we then apply the rates we have negotiated with your particular creditors to your accounts. Your new monthly payment is determined from these rates.

How do I apply for credit cards debt consolidation?

You can apply for credit cards debt consolidation by filling out our free, online form. Our form will ask you only for some basic contact information, and a credit cards debt consolidation representative will then contact you to explain the process and answer any questions you may have. Our form is free and comes with no obligation, and we can even get you a free quote on credit cards debt consolidation services.

Do I qualify for credit cards debt consolidation services?

Qualifying for credit cards debt consolidation services is easy. We just ask that you have at least $5,000 in unsecured debt, be fairly current on your payments, and be willing to cancel the credit cards you include in consolidation.

Will credit cards debt consolidation damage my credit?

No, credit cards debt consolidation will not have a negative impact on your credit. In fact, most of our customers experience a boost in their credit scores because credit cards debt consolidation helps them reduce their debt-to-income and debt-to-limit ratios, which are critical determinants of creditworthiness. If you sign up for a form of credit cards debt consolidation called debt negotiation, the service will have an initially negative effect on your credit. However, this initial damage is relatively easy to fix with credit repair and other services. Using credit wisely can help your credit score.

How much does credit cards debt consolidation cost?

Considering how much credit cards debt consolidation can save you in the long-run, it is a very affordable service. Typically, credit cards debt consolidation services charge a one-time commission fee and a monthly administrative fee. The one-time commission is usually the amount of your first monthly payment. For instance, if your first monthly payment were $200, you would pay $400 for the first month to cover commission. The monthly administrative fee for credit cards debt consolidation usually ranges from $10-$40 and will either be a flat fee or a per-creditor fee.