Find a Debt Consolidation Lender (cont.)
Contributed by Melanie Vannuys
The best advice to take is to shop around from lender to lender and compare notes. You don't want to jump in with both feet with the first lender you see. Compare and evaluate all of their options and then make an informed decision for the debt consolidation that's right for you.
I Don't Want To Use A Debt Consolidation Lender, What Are My Options?
If your debt is under $5000, chances are, you don't need to consolidate your debts. By establishing a budget and chipping away at your current debt you can probably pay down your debt on you own.
Start with your highest interest rate cards with the highest balance and pay more than the minimum payments. Even adding an extra $50 to your monthly payment will decrease your payoff time. But be careful, don't cut yourself short and not be able to make at least the minimums on your other cards. Once the highest card is paid off, take that same $50 and apply it to the next highest and so on. Continuing in this manner will help pay off your credit card debt and on the road to recovery!
