Debt Consolidation Articles

What is Debt Management?

Debt Management is defined as a strategy that assists in paying down debt. These days the term is often referring to a Debt Management Plan or “DMP”. A DMP is a financial product offered by banks & finance companies thru approved non-profit agencies. These plans are also commonly referred to as “debt-consolidation”.

What is Bad Credit?

What defines bad credit? It’s a documented history of not paying revolving charge accounts, and other debts by the due date. If you don’t pay your accounts within 30 days of the due date, many creditors will report the late payment to the credit bureaus. If you have multiple late payments reporting, you are going to fall in the bad credit consolidation loans category.

How to Consolidate Credit Cards?

If you think you need to consolidate credit cards, be sure to review the terms, conditions and interest rates being charged on each credit card. There are two ways to do this; the first is a new loan or line of credit, or balance transfer. The second is a debt consolidation or debt management plan offered by non-profit agencies.

Read out multiple solutions for Credit Card Debt Relief

If you’re looking for Credit Card Debt Relief, there are a number of solutions that may give you the relief you’re looking for. In this article we will review the solutions that are used by the majority of people looking to resolve credit card debt. Those solutions are as follows; Debt Consolidation Loans, Balance Transfers, Debt Management Plans, Bankruptcy, and Doing Nothing.