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I'm looking to consolidate my cards so I can pay just one bill and save on interest.

2007-01-26 00:24:30 · 2 answers · asked by Jfranc1 3 in Business & Finance Credit

2 answers

An online debt reduction company can offer you all the services of a traditional debt consolidation company from the convenience of your home. You can shop for the best fees and sort through the scams all without making a commitment. In the end, you get lower interest rates on your bills with an agency handling your accounts for a low fee.

Easy Comparisons On Fees

Debt consolidation companies will get you the same low interest rate from your creditors because lenders have already determined these rates. The difference between debt consolidation companies is in the fees they charge.

You should be suspicious of large up front fees to be paid with a cashier’s check or wire transfer. These are often scams where people will take your money without paying your bills. Legitimate companies will charge a fee for each account they handle. This may be a small monthly charge or an upfront fee.

When you compare fees, also request pay off dates for your accounts. If the agency is experienced, they will give you a different pay off date for each account.
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2007-01-28 20:43:43 · answer #1 · answered by Anonymous · 0 0

Ask a someone at your bank that you can trust. You may not get a fixed rate when you consolidate which would defeat the purpose. Once you do consolidate put the other cards away. A big mistake a lot of people make is after they do this they run the other cards up again.

2007-01-26 00:45:46 · answer #2 · answered by saturn 7 · 0 0

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