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Consilidating credit card debt

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Some creditors might be willing to accept lower minimum monthly payments or change your monthly due date because they would rather get paid less on a regular basis – than not get paid at all.

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If so, you need to know that 0-percent interest doesn't come free.This will allow you to make one payment and sometimes will result in lower payments.Many zero-percent or low-interest credit card offers only last for a limited amount of time.If you are thinking about debt consolidation, you might want to first consult a non-profit credit counselor.Many people get into debt because they can’t afford to make monthly debt payments on top of paying for daily living expenses.With more than 20 years experience in the nonprofit credit counseling industry, Kevin Weeks joined the Financial Counseling Association of America (, @Trust FCAA) as its president Dec. Weeks has extensive knowledge of both the credit counseling industry and the FCAA organization, having served in leadership positions for three of its member agencies and on the FCAA board of directors.

In addition, Weeks is working with FCAA members to help develop a long-term solution to the student loan crisis through the website

Most balance transfers will incur a transfer fee of 2 percent to 5 percent on each balance, which in your case would cost $120 to $300.

Also, most 0-percent interest offers are good for only 12 to 18 months.

Again, be careful to check the interest rate and terms and conditions to make sure you won’t be adding to your debt, or paying it back over a much longer period of time.

If you take out a loan, always repay the credit card debt and destroy the card so that you're not tempted into using it again.

In order to pay off the debt within that time frame, your payments could be anywhere from $340 to $525 each month.