If you are stuck waste deep in debt, and are looking for a way to get out, then you have probably come into this article in a very discouraged mindset. I say that because it is very, very difficult to get out of debt if you do not have a plan, and a pretty good one at that. Credit card debt is tough to get out of, in fact the credit card companies design their cards in such a way that it is almost impossible to get the credit paid back at all. The interest rates are so high that unless you make above the minimum payment every month, you really have no way to make any real progress with the bills. Fortunately, there is a way out, which involves what some people call credit card consolidation loans. I want to make it perfectly clear that this is NOT a loan. I do not know why people label debt consolidation as a loan, because that is the furthest thing away from what it is. But it can absolutely put you in the right track to getting out of debt forever.
What this actually entails is not a loan, nobody loans you any money at all. All you are doing really is taking your bills and condensing them down into one bill that you have to pay once a month. There is no “combining” them or “loaning” money out to you. Your just condensing everything down to one rate. This is usually cheaper than what the rate would have been if you had paid all of your bills individually like you normally would have. This is the best and easiest way to become debt free because your making your financial life a lot easier, there’s less confusion, the interest rates are lower, your not going to incur any late fees, and many other great advantages.
Credit card consolidation loans do not exist. What people are referring to when these say this is debt consolidation, and it is something that you need to take advantage of if you are in any type of debt whether it be credit card debt, or any kind of debt. It could very well be your golden ticket to getting out of debt and living a life that is free from bill collectors calling you, and free from late fees.
