Credit Card Consolidation Loans Can Cost You Thousands!

Many of us automatically seek credit card consolidation loans because it’s one of the most advertised debt reduction solutions available. Consolidation services are in the media promising to “erase” your personal debt. It is important to know all the facts behind these programs. Most have a failure rate of 75% and can keep you in debt much longer than you bargained for!

Consolidation Loans Can Increase Your Debt!

The idea behind consolidation loans is to take out a secured loan to pay off your credit cards with their unsecured interest rates. But there are numerous problems with this debt reduction option:

Qualification is almost impossible – First and foremost, you have to apply for the credit card consolidation loan. With the current shape of credit markets, qualifying is very difficult. Also, your credit level might be damaged if you have excessive credit card debt.
You need collateral – With a credit card consolidation loan, you need some form of collateral. This typically means your house, car, or some other big-ticket asset. If you can’t make your loan payments, you risk losing everything!
Your debt will increase – Don’t be fooled into thinking your overall debt will go down. You might be paying less each month, but that just means it will take you longer to pay off your debt.

Consolidating Without the Loan Doesn’t Help Either

One alternative to credit card consolidation loans is to consolidate without a loan. Here’s how it works: you transfer all of your credit card balances from accounts with higher interest rates to a new credit card with a lower interest rate. This may sound great but there are some of the same problems. The likelihood of qualifying for a card with a low interest rate is almost impossible if you are among the millions with excessive credit card debt. Plus, many times the low interest rate is only available for a short, introductory period. Once that time has passed, your rate can end up higher than before!

Stop Consolidating & Start Centralizing

You are no longer forced to use consolidation loans. There is now a revolutionary debt reduction program called the Money Merge Account® system. The Money Merge Account program uses powerful debt reduction software to CENTRALIZE your existing income and expenses instead of forcing you into applying for credit card consolidation loans.

The Money Merge Account Program Difference

Once your income and expenses are centralized, the Money Merge Account software uses complex algorithms to determine when to employ the following proven debt elimination techniques:

Interest Accumulation: The Money Merge Account system tells you how much of your money to keep in your savings account for maximum interest accumulation. 2-3% may not seem like a lot, but you can use that “extra” money to reduce credit card debt.
Interest Float: Your credit cards may have extremely high interest rates, but when you “payoff your loan” before they assess interest, you end up with an APR of 0%. This means you can achieve debt reduction without credit card consolidation loans.
Interest Cancellation: It probably won’t surprise you that creditors charge you interest on your credit card debts at very specific times in order to maximize their profit. The Money Merge Account debt reduction software alerts you exactly when to make payments, and in what amounts, to pay more of the principal and cancel future interest!
Strategic Payoff: If you have multiple credit cards, it’s hard sometimes to figure out which one to pay down first. Instead of getting a credit card consolidation loan, you can now potentially save thousands by paying your credit cards off in the best order. The Money Merge Account system shows you the best path to debt reduction so you’ll be debt free as quickly as possible.

By using the proven debt reduction techniques mentioned above, the Money Merge Account program can have you on the path to eliminating personal debt in as little as 1/3-1/2 the time! You only need a checking account, a savings account and the Money Merge Account accelerated debt reduction software to get started today.

Don’t put up with credit card consolidation loans that can end up costing you thousands. They can negatively impact your interest rate, put your personal property at risk and keep you in debt longer…all which can cost you thousands in the long run. Find out how the Money Merge Account system can help you reduce credit card debt. Get your complimentary analysis today to see for yourself how you can achieve debt relief without consolidation!

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