A well trained Counsellor will help you explore all your options and help you identify your best options to get your finances back on track, consolidate your debt, and get out of debt.They can also help you create a spending plan so that you can not only get your finances on back track, but you can stay on track and get out of debt.
(To learn more about managing credit card debt, see out topic on getting out of credit card debt.) Consolidating your credit card debt essentially means combining all of your debt into a single loan or paying your creditors through a single monthly payment.
You can do this by taking out a consolidation loan or using a debt consolidation or management company.
Loans through Avant give you the flexibility to pay off your debt with simple monthly payments over the course of 24 to 60 months** We give you the flexibility to personalize your loan and choose the best option for your needs.
Avoid the hassle of managing multiple credit card bills every month.
Debt consolidation is the process of taking out one loan to pay off two or more unsecured debts.
If you have multiple outstanding credit card bills, for example, a debt consolidation loan could be used to pay off those bills, leaving you with only one monthly payment.
Ask for monthly accounting statements so you continue to keep track of your debts and what your current balances are.
Before signing up, ask how long your repayment plan will be so you know exactly when you are expected to be debt free.
When someone's bank or credit union won't give them a debt consolidation loan, many people respond by trying to get a loan from a consumer finance company, or they turn to their credit cards.