The best way to consolidate credit card debt under ,000 could be to get a zero-percent interest credit card and transfer balances from high-interest credit cards over to it.You also could look at a personal loan to pay off your balances.When you hire a debt settlement company the first thing they will tell you is to stop communicating with your lenders or collectors.Their objective here is to get your lenders so desperate for some sort of payment that they’ll be more open to accepting a settlement deal.That's where debt consolidation and other financial options come in.Consolidate Your Debt Now Debt consolidation is combining several unsecured debts — credit cards, medical bills, personal loans, payday loans, etc. Instead of having to write checks to 5–10 creditors every month, you consolidate bills into one payment, and write one check.This calculator assumes simple interest is charged every month at 1/12th of your annual rate.
The payment amount is your current monthly payment.
You may be frustrated because your total debt doesn’t seem to be getting any smaller, despite a big chunk of your pay cheque going to your lenders every month.
If you own a home on which you made a down payment of at least 20%, then there is a way to make your situation more manageable: a debt consolidation mortgage.
Fill in your loan amounts, credit card balances and other outstanding debt.
You can then see what your monthly payment would be with a consolidated loan.