Consolidating all debt

Debt consolidation offers debt relief by consolidating your monthly debt payments into one affordable payment.

Debt consolidation programs are offered by debt consolidation companies and by nonprofit credit counseling agencies.

Consolidation works best when your ultimate goal is to become debt-free.

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Although signs show an upturn in the economy, many Americans are deep in debt, and not everyone can work overtime or a second job to pay down that debt.Most issuers charge a balance transfer fee of around 3%, and some also charge an annual fee.Before you choose a card, calculate whether the interest you save over time will wipe out the cost of the fee.This helps eliminate mistakes that result in penalties like incorrect amount or late payments.There are three major types of debt consolidation: Debt Management Plans, Debt Consolidation Loans and Debt Settlement.