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How do I consolidate credit card debt

When credit card balances are spiraling out of control, consumers often want to know "how do I consolidate credit card debt?"

There are a number of ways to consolidate or eliminate credit card debt, ranging from credit card loan consolidation to balance transfers and debt settlement.

But the real question to ask is "how do I consolidate credit card debt in a way that will allow me to be debt free in the near future?" In many traditional credit card debt consolidation strategies, consumers are simply shifting debt around rather than resolving their problems once and for all.

That's why, before you start a credit card consolidation or credit card settlement process, it makes sense to consult a credit counselor to get straight answers to the question "how do I consolidate credit card debt?"

How do I consolidate credit card debt?

  • Contact a credit counseling agency to help determine consolidation options , the potential cost of consolidation and get further debt advice.
  • Choose the best consolidation option that will work with your particular financial situation keeping in mind the terms and costs discussed with counselor.
  • Review all terms and conditions of your consolidation option before you move forward.
  • Make the official commitment and follow through on your obligations.

How do I consolidate credit card debt with ACCC?

American Consumer Credit Counseling (ACCC) is a nonprofit organization offering free credit counseling to help individuals and families get out of debt and learn to live debt-free. Our certified credit counselors are available six days a week by phone, and in-person to answer questions like "how do I consolidate credit card debt?" and "What are my credit card debt options?"

During your free credit counseling session, we'll help you get a sense of your complete financial picture, including your income, assets, expenses and debts, and we'll talk with you about your financial goals for the future. Then our highly trained counselors will outline personalized options available to you and answer your questions such as "how do I consolidate credit card debt?" and questions about paying credit card debt. We'll help you decide which path makes the most sense to get out of debt for your situation and goals, and direct you to the resources you need to eliminate debt for good.

How do I consolidate credit card debt in a debt management program?

For some clients who want to know "how do I consolidate credit card debt?" we recommend a debt management plan that lets you consolidate the payments instead. Unlike debt consolidation, a debt management plan does not require you to take out a new loan to pay your bills. And unlike bankruptcy or debt settlement, a debt management plan should not negatively affect your credit rating in the long run.

In a debt management plan, we work with you to create a manageable budget for paying your bills and debts. Then you'll make just one payment each month to ACCC, and we'll make sure your creditors are paid on time and keep you updated on the status of your accounts. We'll also submit proposals to your creditors to potentially lower your interest rates and monthly payments, or to re-age your accounts so that they are current. The goal is to get you out of debt as quickly as possible.

Contact an ACCC credit counselor to get more answers to the question "how do I consolidate credit card debt?" and to other questions like "What does a debt counselor do?" and "What is a debt consolidation loan?"

American Consumer Credit Counseling (ACCC) provides non-profit credit counseling and debt reduction services for consumers with credit problems who want to know how to pay off credit cards and how to get out of debt. Our certified credit counselors have helped thousands of individuals and families nationwide pay off credit card balances and unsecured debt through credit card relief programs and credit card debt solutions. Our debt management plans provide a kind of personal debt consolidation strategy for help getting out of credit card debt, and we offer a wide variety of financial education services to consumers who need help getting out of debt and managing their finances more effectively.

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