How to Consolidate Credit Card Debt?

It is often possible to consolidate terms, interest rates and credit card debt payments. You can also try to consolidate a settlement of the amount you owe. The steps you take and the options available will depend on your situation and the credit card company with which you are dealing.

When to Consolidate Your Credit Card Debt?

When to Negotiate Your Credit Card Debt?

Your trading strategy will depend on the weather. If you are not struggling with your payment, you may get a better interest rate. If you are in financial trouble, you may be able to get better terms or payment dates, or perhaps a relief of payments.

If you are not having trouble paying your debts and you have a good credit history, you can contact your credit card companies to ask for a lower interest rate. Although the answer may initially be no, if you say you are thinking of switching to a card with a lower rate, they may be willing to consolidate with you.

Renegotiating card debt is more difficult if you have financial problems

Renegotiating card debt is more difficult if you have financial problems

While credit card companies encourage you to get in touch with them in advance if you have trouble paying off your debt, some are more likely to work with you than others, and it is almost impossible to guess how they will react until after you contact them, the

With most companies, you should contact them if you know that your payment will be delayed in a few days, or if you think a change in the regular payment date will make it easier for you to pay on time. Many companies can also provide relief if you are temporarily out of work or there is a sudden illness or a family emergency that you need to attend to.

Other companies may cut your credit if you give clues that you will have trouble making the payments. So you need to be careful when deciding to consolidate, who you decide to consolidate with, and how much you talk about your financial problems. If you start negotiating, be prepared to respond to the concerns of the credit card company.

Finally, do not let a bad experience with a lender discourage you as others may take a different approach mainly with the actual possibility of credit portability.

Do not let the debt of the card go out of control or you can get in trouble.

Settle Debt: Your Options After Trading

Settle Debt: Your Options After Trading

There are many options to explore when you are negotiating a credit card debt settlement. They may involve changing payment dates, lowering the interest rate, or even reducing the payment of the installments of the card.

If you need larger credit card company grants, the company will probably cut your credit, at least until it is paid, but usually takes longer. If you are having serious financial problems that probably will not be resolved in a few months, you can explore these possibilities with the credit card issuer:

  • Tolerance agreement (no payments) for a period of time
  • Long-term repayment plan with reduced or no interest
  • Payment of full settlement at a reduced amount

In the latter option, it may be necessary to obtain a personal loan for the payment of the credit card in full.

Who to talk to at the credit card company?

credit card

Who you talk to depends on what you want to consolidate.

Change the payment date

If you just need a change in the regular payment date (to match your payday, etc.), you can probably talk to anyone in the customer service department.

Interest Rate Reduction

Asking for a reduction in the interest rate may require a manager to get involved.

Your payment will be delayed.

Many companies have a specific department to which you will be transferred if you are calling because you anticipate that a certain payment will be a few days late. You can even cancel fines and interest if you call in advance about this.

Negotiating agreements or long-term payment plans

But if you’re asking for a more serious problem, the customer service department probably will not be able to help you, even if he says he can. You will need to talk to a supervisor or a manager in that case.

When negotiating the debt, obtain the agreement in writing

When negotiating the debt

No matter what agreement you have finally reached: make sure you get the agreement in writing and fulfill your payment plan. If you have more financial problems, contact the lender before you are late so that you can reconsolidate. If you wait until you set the settlement payments, the lender may not be willing to reconsolidate with you.

How Do You Consolidate Credit Card Debt? What other tips are important?

The right term for a mortgage loan

It’s about getting the house we’ve dreamed of, but does that mean we have to pay that mortgage for the rest of our working life? Of course not! And even to apply for this credit we must have certain considerations, in order to make sure we can enjoy our home when we are still young.

Are you sure that the house you want to buy is within your means?

money loan

Experts mention that if the term you need to pay for that home is more than fifteen years, then it is simply a bad purchase. Remember that it will always be a risk, so it is better to start small. Invest a reasonable amount that does not harm your monthly budget. If you don’t know anything about investments, you can approach the institutions that handle investments in mutual funds (which are an option) such as banks and ask what profitability is.

Again it is good to remember that in matters of credits

A longer term will always be related to higher interests, so if we talk about a 20 or 25 year loan, it is a considerable amount of higher interest to be paid. Now, it is true that when the term is reduced, the monthly fee increases, but if we compare the interest with the “extra” fee we would pay, it is worth it.

Do not be discouraged at first. If in your first investment you did not get so much money, do not be discouraged, remember that you invested only a little to see what it was. The important thing is to learn. You can search online education about investments and other recommendations.

But in the end it all depends on you and if you already thought about it and chose the term that suits you best, it is time to request the credit that you crave, but first compare them all , in order to find the one that dazzles you.

10 Tips to Pay Off Credit Card Debt

Credit card debt does not become a problem overnight. It builds up slowly and insidiously with only small signs like hitting it against a maximum limit or not being able to pay a minimum payment to warn you that a big problem is in your hands. If credit card debt has become a problem for you, the smartest thing to do is stop buying and paying off the balances on your credit cards. And to help you, we’ve chosen the 10 most important tips for paying off credit card debt.

Tip 1: Shopping


Stop buying items with your credit cards the instant you realize that you are in trouble.

Tip 2: Cancellations

Pay off the cards with small balances that you can afford to wipe out the debt. Cancel these cards or place them in a locked box so you will not be tempted to use them.

Tip 3: Negotiate

Talk to the remaining credit card companies, and ask them to lower their annual percentage rate of interest. Many companies will do this to keep a good customer as long as you have a track record as a good payer.

Tip 4: Interest

Tip 4: Interest

Choose the credit card with the highest interest, and concentrate all your energy on paying this card. When you have some extra money, it should go for payments on this card. When this card is paid, cancel it or block it. Then focus on your second card with the highest interest rate.

Tip 5: Pay more than the minimum

Tip 5: Pay more than the minimum

Make regular payments on the other credit cards. Try to make more than the minimum payments. Making only minimal payments means you pay two or three times the amount you were initially charged on interest rates alone, or even more.

Tip 6: Extra Income

Tip 6: Extra Income

Consider getting a part-time job, doing some freelance work from home or auctioning items online to help pay off your credit card bills. Remember that this need not be permanent, only temporary for debt repayment.

Take good care of your cards so you do not sink into debt and have to turn around to pay the balance of your cards. 

Tip 7: Stop spending

If you can not afford to pay a monthly balance, stop using all credit cards immediately. Block the use, leave them at home or use any other solution to escape the temptation.

Tip 8: Communication

If you get into trouble with credit card debt, keep the lines of communication open between you and your creditors. Say what you can afford and when. The worst thing you can do is simply stop making payments. Talk to the card issuing institution and ask for payment planning help, if applicable.

Tip 9: Ask for help

giving money

If you are in trouble with debt, get credit counseling right away with your bank account manager, an area professional or with internet searches. The more information, the easier it will be to end the debt.

Tip 10: Control yourself

Keep only one or two credit cards. The more cards you have, the greater the likelihood that you will sink very deeply into credit card debt.

With these precautions, we are sure that dealing with credit card debt will be much easier.

Changing jobs can improve your finances

Many years ago, workers worked in a certain institution in which they would retire, nowadays people change jobs to improve their expectations of income and personal fulfillment.

Allow them to start their own business in the future

Allow them to start their own business in the future

Today, many people seek to develop experiences that will allow them to start their own business in the future. The worker’s commitment to the company has not changed, on the contrary, he is committed to work as if he were the majority shareholder.

While it is true that many seek recognition from their bosses, it is also important to know efficient work processes, which you can replicate in your own company or by advising others.

Achieve a similar or higher position in the new company

Achieve a similar or higher position in the new company

According to the Good Finance consultant, 75% of people leaving a job find another job equal to or better paid than the previous one. Also, almost 80% achieve a similar or higher position in the new company.

The labor market is at its best, for this reason people must accumulate assets that generate income and obtain savings with better interest rates. Not all life will have the energy and age requirements demanded by the market, we must prepare for the future.

In addition to better remuneration, people are looking for development opportunities, for example someone is looking for a promotion to manager, then they can compete in the labor market for a management and not for a leadership.

We must develop an intelligent strategy to assimilate difficulties

We must develop an intelligent strategy to assimilate difficulties

While it is true that the work environment can sometimes be adverse, we must develop an intelligent strategy to assimilate difficulties and show solutions to the immediate boss, this is something that companies value.

On the other hand, training and continuous training will allow workers to improve their employability and even build competitiveness for an upcoming venture.

Why be lazy attentive to your personal finances?

Since we were small we have heard that getting lazy is not good for all of us and that laziness is ” the mother of all vices. ” But have you ever thought that apathy could affect your economic climate? The truth is that it does and different ways.

When informed

When informed

It is extremely common for lazy individuals to end up stuck with financial products that not suit them simply because they do not take the time to inform on their own to see which company suits all of them best. Thus, they get rid of valuable opportunities because they never spend a few minutes reading.

It is the most typical in the case of credit cards, they keep your first offer – that is not necessarily a good one – rather than comparing the cards on the market and see which one really matches them.

With the savings

With the savings

Sluggish people want to refuse anything that represents extra work and the case of their savings, it is sometimes the same. Most prefer to keep your account in which they spend the salary, to avoid the particular fatigue of taking out the cash and opening an account in the bank that pays better interest.  that is not necessarily a good one – rather than comparing the cards on the market and see which one really matches them.

It is a simple motion that must be repeated month simply by month

It is a simple motion that must be repeated month simply by month, but for those who are close friends of laziness, they are produced a world of thinking. Thus, they get rid of valuable opportunities because they never spend a few minutes reading.

There are several other cases in which apathy can play for you, so that you need to understand that you must eliminate it to see your finances develop.

Offshore pilot: make your real estate loan cheaper

Offshore racing

Offshore racing

Offshore racing is a nautical competition sport that consists of flying boats powered by very powerful engines.


Real estate loan insurance for off-shore pilot borrower

Real estate loan insurance for off-shore pilot borrower

When you buy a home loan to finance the purchase of a home, you can not usually escape the fact of joining a loan insurance. Indeed, banks systematically require insurance loan is subscribed by the borrower to secure the loan because this type of credit engages for a long time. Loan insurance thus protects the bank in case of occurrence of a disaster resulting in an inability for the borrower to repay his monthly payments. It is not compulsory to subscribe to the group insurance contract proposed by your bank: you can opt for “insurance delegation”. This consists of taking out loan insurance outside the lending institution. So you have the opportunity to compete between insurers to find the best loan insurance contract on the market.

Loan insurance: the problem of off-shore racing

Loan insurance: the problem of off-shore racing

The practice of off-shore racing is likely to lead to a refusal to assure you from some insurance companies because it is a sport “at risk”. For those who will agree to insure you, this should be done under the condition of the application of specific terms and an increase of your insurance premium.