How do credit consolidation programs work? Are they worth it?

Answers:0   |   LastUpdateAt:2012-11-05 14:45:02  

Question
Linda Wortham
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My bf has about 14000 in various credit card debt. Most of it interest. What credit consolidation programs (if any) would be worth looking into?
Answer1Momof8Answered at 2012-11-05 14:44:01
It will work ONLY when the person changes their habits-means spending no more than they earn each and every month for the next 12-24 months.

Make sure the consolidation program does NOT charge a fee, otherwise you are increasing you monthly out flow. Too many places do it for no cost to pay for it, but it will require discipline/record keeping on your part.
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