What is credit consolidation?

Credit consolidation is a process of getting your unsecured credit balances and interest rates reduced through a process of negotiation. Then your balances are combined into one, and you make one monthly payment to the credit consolidation company that did the negotiating on your behalf. They will distribute the payment to your creditors. Because of all the reductions in balance and interest rates, you can be debt free in about three to five years.

Additional Related Frequently Asked Questions

Q: What is credit counseling?

Q: What is debt consolidation?

Q: Should I seek credit debt counseling?

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