Can you consolidate credit card debit?
Answers:
yeah of course. But its the biggest legal scam going these days. You dont end up saving money, and your credit score goes down. The only benefit is that you pay 1 large bill rather then a few small ones.
Do you mean credit card debt? If so, then the answer is yes... she can consolidate all her debt into one payment she will just need to provide this info to her loan officer when she initiates the loan process.
She should consult a credit counselling service. Credit card debt can be consolidated normally however it is linked to her ability to pay.
She may be able to consolidate her credit card debt. She should figure out which credit card has the lowest rate, then contact the company and ask if they would be willing to raise her credit limit for the purpose of combining her credit card debt on one card. If she has been making her payments on time and hasn't kept the balance near her credit limit, there's a good chance the credit card company will grant her the higher limit on the condition that she combines all her bills onto their card. That would be the best way. She could also go through a credit counseling service, but the problem there is they make you cut up all your credit cards and you can't get any new credit cards until you have paid off all your old credit cards in full. That would be a last resort.
Its actually quite simple to consolidate credit card debts. The easiest way would be to go to your local bank and set up an appointment to speak with a personal banker. More than likely they will do a personal loan to pay off all of the credit cards. Instead of having many balances with high interest rates you have one payment at a consolidated balance and rate. She would obiviously have to qualify financially to make the new payment but if she is a recent college grad that shouldn't be a problem.
She might want to find a credit counselor that she can meet with in person. If the problem is credit cards, then she might want to focus on consolidating those.
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