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Credit card consolidation
A low interest credit card is offered to borrower to include any outstanding credit and loan balances. The interest rate is a low fixed rate for a period of up to one year, upon year’s end it will resume at its normal rate. Upon acceptance and terms account should be closed once paid in full and payments be made directly to new credit card provider. Some people have been able to master paying off one credit card with another to keep debt revolving and interest rates low. Some people fail to close out previous creditors account and run them back up again as well.
All three of these options provide solid relief for debt and help them reconstruct and manage their debt better.
Jakob Jelling is the founder of http://www.cashbazar.com. Visit his website for the latest on personal finance, debt elimination, budgeting, credit cards and real estate.