Credit cards

Date: Wed, 06/22/2005 - 08:52

Submitted by anonymous
on Wed, 06/22/2005 - 08:52

Posts: 202330 Credits: [Donate]

Total Replies: 1

Credit cards

I was wondering when I consolidate my credit cards. Does that mean my credit cards will be closed out compeletely? or is that up to me to close out?

Thanks
Val

Hi ValWelcome to the forums. The accounts that you included

Hi Val

Welcome to the forums. The accounts that you included in the debt consolidation program may be closed or frozen. The reason for freezing your accounts is to stop your balance from going up which will incur additional charges.

Moreover, if you keep your accounts active, then you will be building up an additional pressure on yourself and the creditors might not facilitate you with any reduction or elimination of the interest and hence lower the monthly payment if you are allowed to use your accounts.

The creditors appreciate your sincere desire to get out of debt after the enrollment in the debt consolidation program and build up your credit. I am sure that you will be convinced with the successful results of the debt consolidation program.

Regards
Roxette

lrhall41

Submitted by roxette on Wed, 06/22/2005 - 09:28

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