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Our Debt Consultants will be in touch with your quote as soon as they receive your submission.

How credit card consolidation works

Credit card consolidation involves an agreement with lenders that offers borrowers a fast track solution to financial freedom. The secret to such agreements involves the willingness of debt collectors to accept solutions that do not require bankruptcy or other court proceedings. Credit card consolidation is a compromise between both parties � the lender and the borrower.

The credit card consolidation process involves these steps:

A debt consultant interviews the borrower to see if the financial situation provides an opportunity for credit card consolidation.
If the borrower qualifies, the consultant crafts a payment proposal along with a fee arrangement. Either the borrower or the debt collector will pay the consultant company fees.
Once an agreement is reached, the consultant begins negotiations with all of the borrower�s credit card companies.
When a debt settlement is agreed upon with the collectors, the consultant company handles payment distribution to all the card companies.

Debt collectors welcome talks

When a creditor or collection agency knows that a borrower is in financial trouble, they are often willing to sit down and negotiate possible solutions. In most cases, a borrower bankruptcy is an undesirable alternative for the debt collector. They may have to pay expensive legal fees, which in many cases will not result in much, if any, financial gain on their part. So any solution that allows the borrower to continue payments is usually preferable, even if that means changing the original terms of the loan. So a credit card consolidation, while not the preferable option for either party, makes the best out of a difficult situation.

Benefits of consolidation

Your consultant will negotiate with your debt collectors for the best possible arrangement with your interests in mind. This will include consolidating all your credit card bills into one monthly payment at a much more affordable rate. In some cases, rates may be cut by as much as 50 percent. The consultant will also ask for the debt collectors to forgive a portion of the remaining balance on your credit card loans. Interest rates and late fees may also be reduced. In the end, the borrower may often be able to pay off all their credit card debt much faster than they would have imagined. In many cases, it will only take a few years to be free of all these debts � together with any other unsecured debt you own � forever! All debt settlements reached with debt collectors replace the old terms of the loans and are legally binding. Creditors and collection agencies cannot change their minds and ask for more money later.

1st-debt.com is America�s choice for credit card consolidation services. We are only the second company to exceed best practices standards in the debt settlement industry as defined by TASC. We are also a proud member of the Better Business Bureau (BBB). We work hard to provide our clients with the best possible results. To see if you qualify for 1st-debt.com�s services, please give us a call today!