Have Bad Credit? Need to Consolidate Credit Card Debt? No Problem!

It is a sad but true statement that around 70% of households in the United States are failing to meet their monthly credit card repayments. It no wonder that the majority of these households are desperately seeking the answer to how to successfully consolidate credit debt.

The answer on how to this dilemma is not as easy as it may at first appear, this is largely due to the fact that by the time the consumer has looks into methods to consolidate credit debt it is already too late. Like a lot of problems in life people lie to hide from the or ignore them until they have no choice but to faced the situation they are in, in the case of credit debt this usually occurs when the card owner has already missed several minimum payments on their billing cycle. This in turn leads not only to penalty fees, but also will affect the credit score of the card owner detrimentally.

So what's the big deal about a bad credit score? well once your credit score has suffered, your bank or financial institution will no longer give you a line of credit, this in turn means its very hard to get your bank or credit card company to agree to consolidate your credit card debt, not to mention it becomes next to impossible to get a loan for anything else such as a car or home until such time as your credit rating has been restored.

So if you have ideas of running of to your credit company to try to work some deal to consolidate your debt, you can forget it, these companies are in the business of making money, they make a good income out of you missing your payments believe it or not. There is one way however you can get these credit card companies to play ball and that is to use the services of a non-profit organization that has been specially set up to help people to help people who have unmanageable credit debt.

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These non-profit organizations have the edge when to comes to dealing with your credit card company, in fact it's a win - win for them. You see due to the fact that these organizations are declared non-profit any costs incurred by the credit card company that result from a loss in renegotiating or consolidating your debt (i.e. reduced interest rates, minimum payment reductions and even reduced total repayment) is deemed to be tax deductible. So as you can see not only will the card company be able to claim the loss off their tax, they will also be more likely to receive payments of the outstanding debt as the debt holder can now manage the repayments. The same concession does not however apply to deal cut with you and as a result it is highly unlikely you can ever strike such a deal on your own.

Once a deal has been struck you will no longer have to deal with credit card company, you simply pay the non-profit organization who in turn handle the repayments to the creditor or creditors as the case may be.

So as you can see, even if you have a poor credit rating and you cannot manage your monthly repayments you can consolidate credit card debt and you won't even have the daunting task of dealing with Credit Company itself.

So where to start? well the first thing you have to do is take action, the longer you put off contacting a non-profit organization as described above (see the link below) the bigger your debt will grow, this is a situation you just simply cannot ignore, the last thing you want is to find yourself in a position which has legal ramifications, as once you have reached this stage the aforementioned organizations can do nothing to help you.

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Article Source: [http://EzineArticles.com/?Have-Bad-Credit?-Need-to-Consolidate-Credit-Card-Debt?-No-Problem!&id=3716408] Have Bad Credit? Need to Consolidate Credit Card Debt? No Problem!

Free Government Debt Consolidation

There is no doubt, the current economic depression is a bad one, and millions of Americans are having a tough time just keeping up with the minimum payments on their debts. If you are one of the many millions who have accumulated over $10,000 in debt, there is good news ahead. The US Government has stepped in and wants to help those struggling with high interest debts. There are now dozens of government and private debt consolidation programs available to help you get debt free. Read on the learn more and how to find out how much you can save!

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With the current US unemployment rate hovering around 10% and the average American carrying over $8,000 in credit card debt, it's no wonder some many people are turning to government and private debt consolidation loans for help. Debt consolidation works by eliminating all of your high interest debts, such as credit cards, student loans, and payday loans, and replaces them with one low interest loan. These consolidation loans give you more manageable payment terms and help you work towards eliminating your debt.

The best way to find out exactly which consolidation programs will work for you is to apply online. When you apply online you will be able to see which programs you are eligible for, quickly and easily. For example, you may be eligible for the DOE program; a free government debt relief service which can consolidate your high interest debts into one low monthly payment and even lower your total amount of debt.

This is just one example of the many debt consolidation programs which are available to all Americans. Request a free online quote today and discover which program is right for your individual needs. [http://www.debt-consolidation-source.com/]Click Here to request a Free Quote Online and see exactly which [http://www.debt-consolidation-source.com/]Free Government Consolidation programs will benefit you.

I highly recommend the link above if you want to see exactly how much you can save!

Article Source: [http://EzineArticles.com/?Free-Government-Debt-Consolidation&id=3717917] Free Government Debt Consolidation