We really have to say that there is not much as bothersome for individuals when it comes to their finances as having credit card debt. Owing money on credit cards keeps a lot of people up at night. And if you are like most people with credit card debt who get behind on payments is that you are constantly hassled by phone calls and emails demanding payment.
Maybe it won’t make you feel better, but at least you can know that you are far from alone. If you have credit card debt in the US, Wikipedia reports that as of 2016 our national credit card accumulated debt is around $927 billion dollars.
So what can you do to eliminate credit card debt? Nerd Wallet has this great article How to Get Out of Credit Card Debt in 4 Steps. The article even includes a credit card payoff calculator. The article has some great advice about credit card consolidation which we have listed below:
Consider debt consolidation
If your credit is good but your debt payments feel overwhelming, consider consolidating them into one account. That way, you only have to make one payment each month to chip away at the balance.
0% balance transfer credit card: It might seem counterintuitive to apply for a credit card when your main goal is to get out of credit card debt, but 0% balance transfer cards can help save you money in the long run. Find a card that offers a long 0% introductory period — preferably 15 to 18 months — and transfer all of your outstanding credit card debt to that one account. You’ll have one simple payment each month, and you won’t pay interest.
Personal loans: Similarly, you can take out a fixed-rate debt consolidation loan to pay off your debt. Though you will have to pay interest, interest rates for personal loans tend to be lower than for credit cards, which can still help you save some extra cash. Use a debt consolidation calculator to estimate your savings.
However, if you need professional help with credit card consolidation and getting out from under credit card debt, we have another solution.
Check out Tuck Associates
Tuck Associates is famous for helping consumers relieve their credit card debt. They show you how to consolidate your credit cards to lower your monthly payment to one amount that you can easily budget into your regular financial obligations. The interest rate you will be paying may surprise you by how low it actually is when you turn over your credit card issues to Tuck Associates.
Small Business Promote would like you to call Tuck Associates today at 800-798-5294 and talk to the credit card consolidation professionals there. Even just having a conversation about the problem will make you feel better and most likely help you stop losing sleep over your finances.