I live in NY, I have 7or 8 credit cards and I am

I live in NY, I have 7or 8 credit cards and I am making minimum payments. I feel trapped and I will never get out of debt due to the interest rates. I tried obtaining a personal loan from capital one but no luck. i guess credit card consolidation is my best option. What agency/company do you recommend in NYC? Also do I have to meet in person with the agency/company? thank you

2 Answers

Yes, you may contact the credit card companies and negotiate for consolidation. At the same time, you must clarify your current financial situation to your creditors. Once they're able to obtain a clearer picture of your current financial obligations, they'll be able to offer the right repayment plan to you.

Depending upon your situation, I agree that credit card debt consolidation will be a good option for you to get rid of your debts. You can contact the credit card companies on your own and negotiate for consolidation rather than contacting consolidation companies. In case, they are not ready to negotiate with you, then you can think of contacting the local debt consolidation companies for help.

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