Credit 9, an affiliate of Americor Funding, claims to be able to provide loans that help you pay off your credit cards and simplify your life. The problem is that most customers don’t qualify for loans and get shifted to another debt relief or credit repair product. Some are calling it a bait and switch and others say they are helping everyone they can. The results are inconclusive.
Being buried under piles of debt can be frustrating and nerve-racking. After you have been bombarded with tons of collections calls and credit card statements, consolidation of credit card debt seems to be the only reasonable option. The idea of consolidating heavy lumps of debt into one seems convenient, and it is. You no longer have to stay on top of various creditors at a time. Also, you remain aware of your deadlines, and no longer worry about spiking interest rates.
However, credit card consolidation is only the first step towards controlling your debt and paying it off. There is still a long way to go before you can call yourself debt-free. Undoubtedly, credit card consolidation can provide you with some greatly needed immediate relief but what about the long run? If you don’t change your habits, you may never get out of credit card debt.
Most financial experts believe that so many Americans are in credit card debt because they lack the basic financial education to make informed and intelligent decisions when it comes to personal finance. It is about time that most Americans learn the basic principles of personal finance.
Paying off credit card debt is not an easy process. Changing your spending habits is not an easy process. Keeping yourself motivated is not easy either. There is some initial excitement, a sense of motivation and responsibility when the the credit card consolidation process begins.
As time goes on, the excitement wears off along with the motivation. Suddenly the desire to spend carelessly comes back. You need to know that credit card consolidation is a process that can take up to five years.. You need to be consistent and take it seriously.