Credit Card Consolidation Works | Ramblings of an e-trader

Sunday 2 May 2010

Credit Card Consolidation Works

It has been a long time since keeping in touch with a friend, Jason. he lost his job and had to move back to his hometown because he could no longer cope with the higher cost of living in the capital city. While most people would still be able to keep in touch with the telephone and/or internet, Jason was not able to settle his bills and his subscriptions were terminated. It was certainly a bad time for him.

During this time, Jason lived on his credit card advances and naturally, without an income, he was not able to fully settle his credit card bills at the end of the month. Somehow, Jason was able to get himself enrolled in a consumer credit counseling service and he said that it helped him to manage his finances better.

Of course, it also helped that he underwent credit card consolidation which means that instead of taking care of payments for a few cards at various dates of the month, he could pay off his credit card debt one time only every month, and ant a more manageable rate too.

I am very happy to know that Jason has finally gotten a good grip of his finances, though he is still desperate for a job but he seems to be doing better now and doesn't feel the pressure as he once did. He told me receiving credit counseling was the best thing that happened to him since the nightmare of losing his job.

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