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Credit Card Consolidation Loan Credit card debt is a growing national problem. Credit Card Consolidation Loan companies are reporting that over 50 percent of credit card accounts are 90 days or more past due. Many Americans are finding they have overextended spending with credit cards and struggling to reduce the debt. Credit card consolidation loan programs provide a mean of resolving the debt in a more affordable manner.
The goals of a Credit Card Consolidation Loan is to combine the credit card debts and generate one affordable monthly payment. In most cases, this Credit Card Consolidation Loan debt can be paid off in just a few years (about 3-6 years in most cases). Credit card consolidation loan often qualifies for lower interest rates based on the amount of the combined debt.