It can be easy to build up credit card debt over time. Spending a few dollars here or there can lead to high credit card balances if you aren't careful, especially when you factor in the interest charges. And, if you have a significant amount of credit card debt, you may be feeling overwhelmed right now. After all, the high interest rate environment isn't conducive to borrowing and stubborn inflation is likely impacting your budget.
Debt consolidation programsDebt consolidation programs work to create an affordable payment plan to get you out of debt as quickly as possible, which is done by negotiating better interest rates and terms with your lenders on your behalf. Following successful negotiations with the credit card companies, you'll make your monthly credit card payments to the debt consolidation company, which will pay the card companies on your behalf.