Consolidating credit card debt without hurting your credit
You have to accept that paying off your credit card debt completely will take at least a couple of months to finish.The higher the balance, the longer it will take for you to be completely free of debt.
Check with us if you qualify for debt consolidation by visiting our website and talking to one of our trained debt experts. We will help enlighten you about various financial truths so you can make a smart decision about your debt situation.For instance, if you chose Debt Management to consolidate debt, you can rest assure that your credit score will not be harmed.However, that does not mean your credit report will not be affected.It will indicate that you are currently enrolled in a DMP.Not only that, your credit accounts will be frozen.Debt consolidation, like all the other debt relief strategies, will have an effect on your finances.
No matter what you choose, going through the process of paying off debt will change your financial position forever.
So if you are thinking about consolidating your multiple credit card debts, you need to consider a couple of things first.
If you are concerned about the effect of debt consolidation on your credit score, that would depend on how you choose to consolidate your debt.
If you choose balance transfer cards, the inquiry that the creditor will make could dip your credit slightly - but then again, it should be easy to recover that.
Since this form of consolidation lets you enjoy a couple of months of low to 0% interest rates, you can aggressively pay off your debts without worrying about high finance charges.
At least, this is true if follow through with the Debt Management Plan that the credit counselor will help you create.