Start Consolidating debt bad credit

Consolidating debt bad credit

— and what the monthly payment and interest rates are on those bills. Once you have this information, make sure to compare lender’s rates, fees and length of time making payments before making a decision.

The best way to consolidate a large amount of credit card debt (anything over $3,000) without taking on a new loan, is to enroll in a Debt Management Plan.

Most financial experts agree that a Debt Management Plan (DMP) is the preferred method of debt consolidation.

The most-recommended DMPs are run by non-profit organizations.