Credit Card Debt Consolidation Loans?
Most of us are old enough to remember when it was possible to contact a credit card company, explain you just received a balance transfer offer with a low rate from another company, and they would trip over themselves to match it and keep your business.
Those were certainly the good old days when great offers for credit card debt consolidation loans came in the mail almost every week. It was almost to easy to jump from one promotional rate to the next for years on end.
These days, if you try that trick with a creditor they won’t bat an eye and most of the time the interest rate stays right where it is. In fact it even seems like your interest rate is more likely to get raised if you contact your creditor and ask them to help you out by giving you a halfway decent rate.
If you are stuck with interest rates above 20%, struggling to make minimum payments, and your credit is at a point where getting a credit card debt consolidation loan is not a possibility, you do have some options that you can look into.
One option that many consumers are turning to is debt settlement. Even though a debt settlement strategy does not involve getting a loan at a lower interest rate, it can be a very effective way to get out of debt in only a couple of years with a reduced monthly payment.
Debt settlement is not a one size fits all strategy and it does carry some risks, but if you are in a situation where credit card debt consolidation loans are just not available, and bankruptcy is not a good option, then speaking with a qualified debt settlement specialist will show you a potentially quick way out of debt that you might not have thought of.
It is a good idea to research and explore all the different options available to you to ensure that you are following the most effective debt reduction strategy for your situation. To learn about how a debt settlement plan might work for you, contact the professionals at Pacific Debt for a free debt reduction evaluation, and thorough explanation on how debt settlement works.