Debt+Aid Processing | Debt Aid Processing

Debt Consolidation Companies

Set Yourself Free from Credit Card Debt With Debt Consolidation Companies

Debt consolidation companies can truly help people who are under a lot of debt. Credit card debt is something that should not be taken lightly. Sometimes I feel it’s both a blessing and a curse to have been on both extremes of credit card debt. I work as a credit counselor and I own about 6 credit cards with different amounts of debt on them. In this article, I would like to offer several useful tips regarding credit cards and credit card debt.

1) Avoid applying for a credit card if you can do without it. A lot of establishments that take credit cards will also accept debit cards. Or you can just pay in cash if possible. It is important to pay your regular bills on time if you want to build up your credit rating. You can actually build up a decent credit history if you regularly pay your phone and utility bills on time in a few years. Remember to manage your bills properly and avoid credit card debt if you can.

2) If you plan to get a credit card, don’t just go for the first credit card provider that you encounter. Avoid people in commercial or public places who try to offer you a credit card without understanding the terms first. A few of the important things you want to look for are the credit card’s annual percentage rate, or APR, and the car’s allowed grace period. The annual percentage rate or APR is the rate the credit card debt will rise to after the trial period has ended. The grace period is the period to make a payment after a purchase before the credit card’s interest grows. It is important to do you own research online about the credit card provider’s reputation. You’ll find it surprising that some popular credit cards have a not so good reputation with their customers.

3) If you get a credit card, control the use of it. Make sure not to charge more than you can pay off when the billing period comes. If you max out the credit card, you can actually acquire over the limit fees as the interest grows. At this point, your interest rates can be increased by the credit card company. It would help to ask for a credit limit increase every now and then to help you with your credit card debt. However, having a higher limit does not mean that you should purchase more using the card.

4) If it gets difficult to handle your debt to income ratio and your monthly income barely covers the charges, it might be practical to call in some outside help. You can find a good number of debt consolidation companies in your area. Again, before signing up, do some research on the company’s reputation. Some companies that say that they are non-profit can acquire considerable annual profits and have a nasty reputation with customers. Having TV ads does not necessary make a credit counseling company the best. A reliable credit counseling company can substantially lower your APR and lower the amount you have to pay back. They won’t get rid of your credit card debt, but they will lower the amount. Always remember that there is a catch. Your credit cards will be permanently cancelled and this might prevent you from getting new credit cards for a few years. But the good news here is the credit counseling won’t affect your credit score.

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Debt+Aid Processing | Debt Aid Processing, Debt Aid Processing, Debt Settlement Processing, Debt Settlement Backend Company, Debt Settlement Affiliate, Net Branch - DEBT AID
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Debt+Aid Processing | Debt Aid Processing

Debt Rehab does not assume or pay any debt, nor does it give legal advice, offer credit repair, or help stop creditor & collector calls. Individual results may vary and are dependent on successful completion of program and ability to save funds.