Is it better to debt consolitdate or to pay off credit card one by one?

I have some debt in several cards and would like to consolidate into one but I do not want to do a consolidation program. It requires me to declare deliquent on my cards. I have tried snowballing but if I can find a credit card that will allow me to put together all of my debt into one that will be great. Any suggestions?

Is it better to debt consolitdate or to pay off credit card one by one?

Yeah-- don%26#039;t fall for that %26quot;consolidation%26quot; stuff. It%26#039;ll damage your credit.

It%26#039;s all about the interest rate. Figure out what interest rate you are paying on your cards and try to get the balance(s) all transferred to the lower rate.

A lot of credit card companies try to get you to use them by hooking you in with a zero or low rate for balance transfers. Get one of these offers and transfer all your balances to it. And don%26#039;t put any purchases on that card! If you put a purchase on it, the zero interest rate no longer applies and won%26#039;t until the entire balance is paid off.

You might not be able to get another card. If not, just pay the larger interest cards off first. If interest rates are the same, it doesn%26#039;t matter if you pay on a bunch of cards or one-- you end up paying the same. It%26#039;s a hassle to make more than one payment, though.

Just play the rates-- pay higher rates off first; shop around for transferring to a lower-rate card or offer.

Good luck!

Is it better to debt consolitdate or to pay off credit card one by one?

You can visit http://www.cashguru.info and find very useful tips and several articles on debt consolidation. Report It

Is it better to debt consolitdate or to pay off credit card one by one?

credit card companies send out balance transfer offers all the time. just transfer them to one

Is it better to debt consolitdate or to pay off credit card one by one?

i just did one with Chase Platinum

Is it better to debt consolitdate or to pay off credit card one by one?

Depends on the interest rate you can get for the consolidation. If it%26#039;s really good, then consolidate. If it sucks, then don%26#039;t.

Is it better to debt consolitdate or to pay off credit card one by one?

my friend is a paralegal,you can save much $ going to one as apposed to a lawyer,let alone a rip off consolidation place.First of all is VERY important to know how old each of these debts you have are,i.e. when you last paid on them,and exactly when they went into default.usually those two things are within a couple months of each other.If there 7 yrs old or more,forget em and wait til they go off your record.If you pay even a penny on them OR consolidate them they start all over! A good legal counsel can talk to them and get alot,maybe all the intrest off and have it in writing.Don%26#039;t ever consolidate them,you%26#039;ll just end up deeper in debt.if you can find a secure credit card that%26#039;s legit it can really help build your credit up.make sure they report to the credit bureas first.

Is it better to debt consolitdate or to pay off credit card one by one?

Can%26#039;t give a decent answer without knowing how much debt, income, and desposible income you have. So I%26#039;ll give my %26quot;general%26quot; answer.

With several cards I don%26#039;t think it would be practicle to go with another credit card and rolling over debts. I think a consolidation loan may be better.

If you have a home, can you access any equity? A home equity loan has lower interest rates, and the interest is tax deductable.

If you have enough disposable income, it would obviously be much better to try and work out a serious budget. Take every dime you can and pay off the cards. Start with the high interest cards first, then work your way down.

Whichever way you go, take this warning....stop using credit until you get everything caught up! Over the past few years banks have been pushing consolidation loans like crazy, and people are being sucked into that trap. They get the loan, pay off their cards, then turn around and charge them right back up again. Now they are in twice the debt! Their only escape is filing for bankruptcy. Many thousands of people have done that last year along! So don%26#039;t fall for that trap, control your credit spending!