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Does Free Credit Card Debt Consolidation Exist?

Free credit card debt consolidation service is often advertised by many credit card and debt consolidation service providers. But the companies that actually provide free credit card debt consolidation services are very few. Most of the companies that advertise free credit card debt consolidation charge a monthly fee in exchange for their services. But nevertheless, we can’t deny that the monthly charge levied by these companies is considerably lower than what other ‘for profit’ companies would charge you.

How Do I Choose A Reliable Service Provider?

Since many companies advertise free credit card debt consolidation, it is not easy to spot a fair deal. You can start with looking for free credit card debt consolidation service provider online. You can get a lot of information on the companies’ websites. Most of these companies will also offer you free quotes that will give you an idea of the interest rates, the term period of consolidation loan, and the monthly payments you will make to payoff the loan. Once you get the free quotes from multiple companies offering credit card debt consolidation services, you can compare the pros and cons of each.

What Do I Stand To Gain Out Of Debt Consolidation?

You can expect many benefits from your credit card and debt consolidation program.

  • The first benefit is that the free credit card debt consolidation can help you move towards the goal of debt reduction and ultimately debt elimination.
  • You will not have to deal with multiple creditors and therefore, you will get rid of all the confusion that multiple card bills ensue. There won’t be different bills for different amounts to be paid on different dates and at different rates of interest.
  • Since, there will be a single payment that you make to the credit card debt consolidation provider every month; there is no chance of missing a payment.
  • The company providing credit card debt consolidation services will renegotiate the terms on your cards, thus, getting you lower rates of interest and waivers of fees.
  • Even if you miss a payment, you won’t be charged excessively high interest rates that the credit card companies normally charge.
  • A credit card debt consolidation company that is interested in your financial troubles will not only offer you the service free of cost, but will also offer you a host of other services. The service provider will begin with a credit card and debt consolidation counseling session for you. During this session, a professional of the company will help you fix a goal for your financial security and also help you chart out a plan to attain that goal. The company will also provide you credit card debt reduction and debt management services.

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