Consolidating your bills

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But, before applying, be sure to ask about the lender’s credit requirements.

Keep in mind that you’ll need Be sure to check out any potential online lenders with the Better Business Bureau before applying for a debt consolidation loan online.

Keep in mind a debt management plan may have a negative impact on your credit during the course of the program because your creditors will close or suspend your accounts while in the program, and this can affect your credit utilization.

So make sure you are ready to live credit card free for a while.

Some strategies will be more affordable than others, and your credit card consolidation choices may be limited by your credit standing.

Personal loans charge simple interest (as opposed to credit cards, which often have variable rates and sometimes have different rates for balance transfers and purchases on the same card) and they typically have loan terms of three to five years.

And, Credit.com’s free credit report summary can help you understand what’s inside your credit report. There are several safe and smart ways to consolidate credit card debt, so you’ll want to research them before deciding what’s best for you.It's all about finding financial stability for you and your family.That way you can look forward to a brighter financial future.The best way to consolidate credit card debt — and whether consolidation will work for you at all — depends on your situation, so you might want to consult a non-profit credit counselor about your best options.The following five tips can help you figure out which credit card consolidation strategy suits you best.

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