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How Do I Consolidate My Credit Card Debt Into One Payment? – Michelle

Written by Steve Rhode

“Dear Steve,

I would like to consolidate my credit card debt into one payment to lower my payments and can see a end date. What is the best way to do this and what company can help? I don’t have extra money to pay down.


Dear Michelle,

That’s hard to tell just based on what you shared. But let’s look at this from how long it can take to be debt free.

90 Days – If you need to file bankruptcy then your debt can be eliminated in about 90 days.

3 Years – Maybe an unsecured debt consolidation loan from is more what you are looking for and you have a credit score above 700. This might lower your monthly payments, pay your debt off faster and help to boost your credit.

5 Years – A credit counseling program might do the trick for you but you but will close your credit cards and that may lower your credit score. Still, if you can afford the minimum payment and are looking for a lower interest rate, it’s worth a look.

Please post your responses and follow-up messages to me on this in the comments section below.

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About the author

Steve Rhode

Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.

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