So many people have credit cards and other cards, and some of them find it hard to pay their monthly bills. If this sounds like you, you might want to look into debt consolidation and getting help with budgeting so you don't end up going bankrupt. You can also get a loan, but you should think about all of your options first.
The easiest way to consolidate credit card and other card debt is to put all the balances on one low-interest credit card with one low monthly payment. Most card companies do offer low rates for this type of debt consolidation as a way to get you to try their card. But it should go without saying that you should make sure the balance on your new card is enough to cover the balances on your other cards.
Look for transfers with low interest rates so that you can consolidate. Many cards offer these transfers at 0% interest for a set amount of time, which makes them perfect for combining your credit card and store card balances. But before you take the plunge, you should know your own financial situation and how much you can pay each month. Don't put any more balances on a card after the introductory period has ended and the transfer rates have gone back to being high. You could hurt yourself and your ability to pay. What would you do right now if your personal situation changed quickly? Fact: You would still have the same problem of interest building up and no way to extend the time period.
You can also ask family and friends for help to combine your credit and store cards. You'll have to get over your pride and shame. Family and friends, on the other hand, don't charge service fees or interest. They are much more likely to have the most affordable payment plans. You are also guaranteed to make your payments on time, and if one month your money is tighter than you thought, you can talk to them about it. It's much easier to talk to them about things. But it's smart to put everything in writing so that neither side can break the deal. There can be misunderstandings. Protect yourself against them in advance.
Lastly, you might want to learn more about non-profit groups. They can talk to your creditors about lowering your payments and keeping you from having to take out loans or get money from other places. Now is the time to look at all your choices and decide what's best for you.
