Balance Transfer

This is something that can be done by yourself, there are Zero APR balance transfer credit card allowing your transfer the balance from a higher interest rate credit card to a lower interest rate one, this is very useful is your intention is paying off the total balance of the highest APR one.

Debt Settlement

The main advantage of debt settlement is that your debt is reduced, saving you thousand in the process, plus it has a shorter span of time in order to be debt free, usually between 12 and 36 months, the main disadvantage is that your credit score, consequently your credit report, get damaged. However, if you want to save money and you are not interested on new lines of credit for a while this is the best option.

Debt Consolidation

Advantages such as, lower interest rate, lower monthly payment and that your credit is improved during the repayment span (4-5-6 years) makes debt consolidation at least a quiet interesting debt management program. However, you become debt free in less time and pay less with debt settlement, and this is when a seasoned debt counselor play an important role in order to help you choosing the right alternative that meets your needs.
Summing up, credit card debt consolidation is a highly recommendable alternative for those trying to get their finance back to order, it has more benefits than downsides. However, debt settlement is a good option as well, specialized advise from a debt counselor or debt management agency is suggested. Just make sure that you are dealing with a trusted and reputable credit card debt consolidation company.

Hector Milla runs the Credit Card Debt Consolidation website, where you can find his best rated credit card debt consolidation company recommendation, and the Bad Credit Debt Management resources center.

Find credit card debt consolidation tips and debt management advise for people with bad credit respectively. Visit for further information.

— By Hector Milla