Credit Card Debt Consolidation Companies - How Consumer Credit Counseling Companies Work

For  bad credit borrowers who are planning to consolidate unsecured credit card  debts by transferring their existing high interest multiple credit debt  balances on to a new credit card with a low interest rate, a free free Non Profit Credit Counseling program help is a must. The Federal Reserve recently enacted a set of  rules to regulate credit card offers. This comes in the light of an increasing  number of complaints registered by borrowers regarding hidden costs and certain  unfair practices carried out by debt consolidation loans with bad credit or balance transfer card issuers. Typically, a borrower  can consolidate his credit card dues in many different ways as there are plenty  of debt management solutions available. But it is thereby imperative for  borrowers with a bad credit history to avail expert debt consolidation help  which could ensure that they get the best deal on debt consolidate loans for  doing away with their unsecured credit card dues. 

One  such reduce unsecured debt type is the balance transfer credit card which has a low  interest rate and which allows a borrower to combine all of your credit card  dues and transfer it onto a new card. This kind of debt consolidation is  ideally suited for those who possess high interest credit cards. Normally,  lenders who offer balance transfer credit cards Charge  zero percent rates of interest as well as balance transfer rates as part of a  promotional strategy for an initial specified period. However,   there still exist some hidden costs in the  form of extra service fees which is an abusive trade practice. Apart from this,  once the initial time period is over, the regular interest rates are  automatically applicable to the credit card which means that a borrower could  be required to pay anywhere between 15% to 20% interest on the balance transfer  credit card. Hence, borrowers with a bad credit are required to be cautious  when applying for balance transfer cards.

Nevertheless,  it is always recommended to use the professional online free consumer credit counseling provided by reputed service providers like DebtConsolidation123.  This could enable you to get proper guidance which is required when you are out  to consolidate your multiple high interest credit card debts and prevent you  from being a victim of such unfair practices. Additionally, you could secure  for yourself a debt consolidation solution which is highly affordable as well  as favorable to cater to your financial needs and requirements.