Is Credit Card Consolidation right for me?
If it's been more than a year when you are carrying a certain amount of debt in your credit card and you are burdened with the monthly payments and increasing interest rate, then a plan to pay off your debt will be very helpful. Credit card consolidation is one such option that will help in this situation. A credit card consolidation company will offer you it's services.
What do you mean by credit card consolidation?
In this case, a new loan is taken to pay off the balances on any outstanding credit cards. As the balance of your credit cards is at zero, your focus should be on making only one monthly payment to the loan company. The interest rate for the consolidation loan is less than the interest on any of your cards. This helps in saving your money and paying the loan faster.
Benefits of credit card consolidation loan
- You have a fixed rate of interest that won't be a burden on your head.Making a single payment every month rather than paying multiple cards having different due dates.
- When your loan is ended, you know you have a pay-off day.
Here are some of the benefits listed below:
Is credit card consolidation right for me?
Consolidation loans will not be beneficial for everyone. It might not serve the best interest of everyone. It can be helpful for those who have balances in one or more credit cards for almost a whole year or if you are paying high-interest rates on your credit cards. You can do the maths and see how much you save in the next few years.
If you are looking for a company who solves your debts or credit cards, visit us at Ooraa and pay off your credit card bills by saving more.
Please note that all calls to the company may be recorded or monitored for quality assurance and training purposes.
Ooora Debt Relief helps its customers to understand the different choices they have to get rid of unsecured debt. Based on the conservative estimates clients that enroll in our Debt Management Plan and make all their payments on time generally experience a 50% reduction of their enrolled balance before our fees and about 30% reduction after payment of fees over12-48 months. Individual results may vary and are dependent on factors such as the total amount of debt, creditors’ cooperation, ability to save and successful completion of the program. Ooraa Debt Relief does not guarantee percentage reductions or the specific period in which the consumers’ debt will be resolved. We do not charge any upfront fees until a settlement that you have approved has been negotiated and at least one payment has been paid towards it. We do not provide tax, bankruptcy, legal or investment advice. Depending on your state we may be able to suggest a local tax professional or a bankruptcy attorney. Our program is not available in all the states and fees may also vary from state to state. Please consult a tax professional to consider the tax consequences of debt settlement.
The simulated savings calculator on our website is for illustration purposes only and may not always be accurate since they vary by each client’s unique situation. You should get a specific estimate from our company office for an accurate assessment before you decide to enroll in our program.
Please read and understand the contract terms and how the use of these services can adversely impact your credit before commitment.