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Great site and informational, thanks! Question, I recently took a 0% transfer @ 3.99% for 18 months to payoff other existing debt. This was a no-brainer for me in either case of my pay-offs, as in both instances, the payment will be less and interest is wayyyyyyy less. Which scenario is better? 1: Payoff 5 other credit cards, as they aren’t super high, but all between 10-17.24% interest and the payments together would be the same as the transfer, actually more by a few dollars. 2: Payoff an existing 28.92%(apr, we know what that means) lending club loan @ 596$ a month ( although I pay $650 to try to get ahead), but I have to utilize one of my other cards and add $2200 to pay the loan off. The credit card I’d be using is already at 70% and I overpay all of my cards, loans, etc even if by $5. I’m just having a dilemma as to which way to go, I know I can in a month or two pay off the one or 2 small cards, as the transfer will only be approximately $410 per month to payback within the 18 months, which I will. The original loan I took, was for 5 years and its been almost 3 years. Every time I look at how much interest I’ve given them, I just cringe.
A lesser known option for consolidating your debt is to borrow money from a life insurance policy. You can borrow up to the cash value of the policy, use the money to pay off several smaller credit card debts, and then make payments to your life insurance policy. You may not need to repay the borrowed sum, but understand that your death benefit will be reduced by however much you borrowed.
In this situation, a certified credit counselor helps you find one consolidated payment that will fit your budget. Then they call each of your creditors to negotiate. It’s basically the exact same thing you do yourself. The difference is that these agencies have established relationships with creditors and proven records of helping other people get out of debt. So, even when a creditor won’t work with you, they often sign off on your enrollment in a DMP.
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Programs are designed to help clients understand their debt, pay off their debt, and create budgets to stay out of debt. You can use the debt calculator to determine monthly payments prior to applying, and find answers to most of your questions by clicking on the "View all Debt Consolidation Questions" link. There are even programs to lower your payments should the need arise.
My question is this: Should we work on paying off that %0.0 interest loan first so that we get that $245 per month payment quicker to apply towards other loans, should we make only the minimum $245 payment towards the $3,000 loan since it will get paid off in a year (well before all the other loans), or should we change our minimum payment for that loan to the financing-specified $30 and treat it like %0 interest loan until the percentage increases and then change it to a %29.9 interest loan after 12 months (basically moving it from the bottom of the ladder to the top once the rate increases)?

Debt consolidation are fixed-rate, unsecured personal loans that enable borrowers to pay off or reduce their balances on multiple unsecured debts more easily. They are offered by traditional brick-and-mortar banks, credit unions and online lenders. Check out eight top lenders of personal loans for debt consolidation and find out what it takes to qualify and how to apply.
Our main reason for not giving Accredited Debt Relief a score higher than 3.5 stars was a lack of information on their website. Most of their higher-ranked competitors provide details as to the average fees charged - either by themselves or by the debt relief companies with which they partner - so that prospective clients can get an idea of those rates before making that first contact. Also, the ADR site says in multiple places that they operate in "most states", but that their service is "not available in all states and [their] fees may vary from state to state". It would save customers time if they knew in advance that their state is not one of those covered by Accredited Debt Relief's services.
To this catalogue of circumstances that tend to the amelioration of popular systems of civil government, I shall venture, however novel it may appear to some, to add one more, on a principle which has been made the foundation of an objection to the new Constitution; I mean the ENLARGEMENT of the ORBIT within which such systems are to revolve, either in respect to the dimensions of a single State or to the consolidation of several smaller States into one great Confederacy.
The National Debt Relief website is clean and customer-friendly. To start, you simply fill out their online form or call their dedicated debt help line at 1-888-919-1355. You'll discuss your financial situation with one of their certified debt counselors, who will walk you through a free debt analysis. Their staff is knowledgeable and friendly, and together you will create a plan to pay off your debts for less than you owe. Best of all, you can get started on your plan with no upfront fees.
Almost 2 in 5 Americans with credit cards (38%) say they don’t know all the interest rates on their cards, which can cost them when they’re deciding how to pay off their balances. To save the most money and eliminate your debt in the shortest amount of time, pay off your cards in order of annual percentage rate. Make the minimum payment on each card, then put all your leftover money toward the card with the highest rate.

As discussed above, average credit card debt in America has been rising over the last decade. However, despite this, the average percentage of people holding credit card debt has been gradually decreasing. This tells us that the while average credit card debt is increasing, it’s not due to a greater number of individuals spending. Instead, in recent years, more people have been more heavily indebted.


I have approximate $15,000 in high interest credit card debt and just spinning my wheels making minimum monthly payments. My credit is borderline fair/good. Would credit counseling help me pay this off quicker?? I just recently leased a brand new car for 3 years and when the time comes to trade it in or finance it and keep it I want my credit to be okay to do so. What do you recommend for me??


You must have at least $15,000 in unsecured debt unattached to collateral, such as a house or car. If you qualify, you talk with one of Freedom Debt Relief’s debt consultants and determine a plan that works for you. Freedom Debt Relief’s program length can range anywhere from 24 months to 60 months, and you can track your progress on an online dashboard 24/7. To better see if you qualify, Freedom Debt Relief offers an online evaluation tool. 
The website is very well structured and easily readable, with categories clearly marked. You will find the most information about credit card consolidation under "Personal Loans". From here, you simply click the "Get Started" icon, follow the prompts, and enter your information. Their process is designed to match you with up to 5 lenders with very compeitive rates.
The second type of debt consolidation you may hear about are debt management plans offered by debt settlement companies. With these programs, the debt settlement company may be able to secure lower monthly payments with your creditors by negotiating a reduced balance on your accounts. You then make one "consolidated" payment to the debt settlement company each month, and in turn the company makes payments to each of your creditors on your behalf.
Credit card consolidation - is it right for you? If you're carrying a high interest rate across multiple cards, you may benefit from such services. With more and more Americans facing large medical bills, job loss, and other financial setbacks, credit card debt is higher than ever. And, with interest rates and late fees, it's not unusual for people to get in over their heads. Credit card consolidation helps consumers to better manage their debt and get back on solid financial footing once more.
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