Consolidating your credit cards good idea
If you must work with a debt-consolidation company, make sure to do your research.Investigate the company with your local chapter of the Better Business Bureau, check online for any complaints against the company, and get in writing exactly how much you’ll be paying in interest and fees to pay off your credit card debt.
You could also take out a loan from a family member to pay off your credit card debt.
It’s also easier for consumers to make one monthly payment to reduce their debt than it is to pay several creditors each month.
It makes financial sense for consumers to explore all other options before turning to debt consolidation companies.
Better options for dealing with high credit card debt might include transferring the debt onto a single low-interest-rate card.
This would give you time to pay off your debts without having to deal with sky-high interest rates.
Debt consolidation alone doesn’t help consumers change the negative spending patterns that left them with high credit card debt.