Credit Card Debt Consolidation

Can You Pass The Test?

What you need to know about credit card debt consolidation

Before you start consolidating debt, there are some things you should know about credit card debt consolidation. Typically, the more consumers know about the consolidation process prior to signing up, the better their experience will be. With most credit card consolidation programs, the service will negotiate with your creditors on your behalf. In doing so, your consolidation company may be able to obtain more affordable interest rates and payments for you. More manageable credit card payments will allow you to repay your debts more quickly.

True or False...

We want you to be as informed as possible about credit card debt consolidation, but we also don’t want to bore you to death. To convey debt consolidation information in a way that is as engaging as possible, we’ve put together the following true/false quiz on consolidation for you. Take it and see how you do.

1. Many consolidation companies have prior arrangements with most major creditors that allow them to pass on interest rate savings.
2. The average Credit Card Debt in the U.S. is a few hundred dollars per household.
3. Thousands of consumers have become debt-free thanks to reliable consolidation services.
4. A radical idea at the time of its inception, credit card debt consolidation was created in the late 1960s as part of President Lyndon Baines Johnson's "Great Society."
5. Some student loan debts and unsecured medical bills are also eligible for debt consolidation programs. The industry offers much more than just debt consolidation credit card programs.
6. The first thing you need to do to start consolidating debt is sign up for a free referral on our site.
7. You cannot qualify for credit card debt consolidation if you have a poor credit history. Bad credit makes you ineligible.
8. Debt consolidation loans are an effective form of debt management.
9. A good consolidation company will work with you, not for you, to create a debt consolidation program that is appropriate for your finances and worthy of your personal expectations.
10. The drop-out rate for most debt consolidation services is over 50%.

If you want the answers to this quiz, please see the paragraph below. For more information on how to start consolidating debt, fill out our free sign-up form. One of our consolidation partners will be in touch with you shortly thereafter.

1) True. 2) False. 3) True. 4) False. 5) True. 6) True. 7) False. 8) True. 9) True. 10) True.