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There are so many companies out there on the internet vying for your attention online every single day, many who want to sell you their product. This includes debt consolidation companies. As it turns out, there are a lot of ways to do debt consolidation but only ONE WAY to do it CORRECTLY.

Debt Snowball Method: https://youtu.be/KWp7ZjD6AD8
Debt Avalanche Method: https://youtu.be/d3H2ODyQo0I

Before you can even THINK about utilizing debt consolidation, you MUST make a few commitments/promises to yourself:

1. Remember that you are in DEBT! The Focus is GETTING OUT!
2. Cut up your existing Credit Cards!
3. You MUST use a WRITTEN BUDGET!

You are in debt! That is why we are even talking about Debt consolidation at all. You need to make a commitment to NOT use your existing credit cards AT ALL while you pay off your credit card debt. Your focus needs to be 100% on paying off your existing debt as quickly as possible. On this same note, you MUST HAVE a written budget to do debt consolidation the right way. You need to be in control of your finances each and every month to make sure your income is being used efficiently and you have extra money left over each month to pay off debt.

The 1st step to completing debt consolidation the right way is to utilize a debt consolidation credit card that has (2) characteristics:

– The debt consolidation credit card MUST have a 0.00% interest rate period of at least 12 months but longer is definitely preferred.
– the debt consolidation credit card MUST have a $0.00 balance transfer fee

There are a lot of credit cards out there that offer a 0.00% interest rate period of 12-18 months, but very few credit cards out there also offer a $0.00 balance transfer fee. Most credit cards will have a balance transfer fee of $10 or 5% of the outstanding balance whichever is higher. As you can imagine, this could end up being a very significant amount of money depending on how much debt you have to consolidate.

The only credit card that I could find that meets these requirements is the American Express EveryDay Credit Card. This card currently offers a 0.00% interest rate for the 1st 18 months after the credit card is opened and it also offers a $0.00 balance transfer fee for every balance transfer completed during the first 60 days after the account is opened.

Some things to consider before opening and using this credit card are:

– How much debt do I need to consolidate?
– Will I be able to pay off this debt during the first 18 months?

After you have utilized the American Express EveryDay loan consolidation credit card, the next best option would be to utilize a debt consolidation personal from a company like Marcus by Goldman Sachs or Discover. Both of these companies offer excellent options for fixed-rate low interest rate unsecured personal loans that you can utilize to pay off your high-interest credit card debt. A debt consolidation personal loan will allow you to have one payment instead of multiple payments with an interest rate lower than your credit cards.

Here are the takeaways:

1. START with a WRITTEN BUDGET for your personal finances
2. Cut up your existing credit cards to avoid additional debt
3. START with the American Express EveryDay card then utilize a personal loan

My name is JOE and I am just your AVERAGE JOE ON MONEY. This channel talks about ALL THINGS personal finance that help people like YOU and I, the Average Joe, learn the fundamental principles of money and win with our finances. Whether it is learning how to budget, saving money for retirement, investing, paying off debt, and all things in between, I have you covered here on the Average Joe on Money YouTube channel.

When you ignore the warning signs, debt problems can climb out of control. Using credit cards and making minimum payments only makes the problem grow. Break the cycle; you can get out of debt. Well help you reduce your monthly payments, lower or eliminate interest charges and stop those stressful collection calls. Well work with you to develop a plan that fits your budget so you can live while paying off your debt sooner.

Get help to create a plan, deal with your debts, and get back on track. Appointments are free, confidential, and non-judgmental. We’re a non-profit service, and we can help.

Consumer credit counselling is a service that can help you get out of debt. The process starts with a free credit counselling session that helps you identify the best debt solution for your needs, credit, and budget. If you need help getting out of debt, the counsellor can help you enroll in a debt management plan.

To learn more about the process visit: https://www.debt.ca/credit-counselling/how-does-consumer-credit-counselling-work

Avoid Bankruptcy – debt settlement companies and so called credit counsellors are cold calling to offer their services to debt strapped Canadians. The majority of these offers are misleading and deceptive, and will end up costing you money that you don’t have. Ultimately, your debt will not be eliminated. Brian Doyle, President of Doyle Salewski, advises that before you make a commitment, meet with Doyle Salewski for a free second opinion. It may prevent you from making a serious mistake. Doyle Salewski has the information you need to make the right decision. Call the people you can trust: Doyle Salewski. 613-237-5555 or 1-800-517-9926
Ready to get started? Call our Ottawa number at 613-237-5555, or our toll-free number at 1-800-517-9926 (or email info@doylesalewski.ca ) to speak with one of our professional counsellors and set up your free consultation. The professionals at Doyle Salewski are all fully experienced in providing financial management advice such as credit counselling, bankruptcy, consumer proposals, budgeting, debt settlement, and debt consolidation.

At Doyle Salewski, we go out of our way to make our process as comfortable as possible and to help you achieve financial freedom. Visit our website at https://www.doylesalewski.ca/ to learn more.

Your initial meeting is free, fully confidential, and carries no obligation. If you decide to proceed with any of the options presented to you, your counsellor will determine the cost at that time, based on the choice you make.

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Read our Blog: https://www.doylesalewski.ca/blog

Take a look at our helpful information pages:

Debt Solutions: http://dev.doylesalewski.ca/debt-solutions/
Stop Collection Calls: http://doylesalewski.ca/debt-solutions/stop-collection-calls/
Credit Card Debt: https://www.doylesalewski.ca/debt-solutions/credit-card-debt
Eliminate Tax Debt: https://www.doylesalewski.ca/debt-solutions/tax-debt-help
Bank Loans: https://www.doylesalewski.ca/debt-solutions/get-help-with-bank-loans
Payday Loans Debt: https://www.doylesalewski.ca/debt-solutions/get-rid-of-payday-loans
Student Loan Debt: https://www.doylesalewski.ca/debt-solutions/student-loan-debt
Debt Consolidation Loans: https://www.doylesalewski.ca/debt-solutions/debt-consolidation-loan-debt
Wage Garnishment: https://www.doylesalewski.ca/debt-solutions/stop-wage-garnishment

Manraj Waraich provides important credit council to vulnerable Albertans who find it difficult to manage their finances and are often victims of financial exploitation. Topics covered include:
• How to avoid building unmanageable debt loads due to cell phone contracts, credit cards, pay day loans, etc.
• Managing debts on a low or fixed income
• Budgeting on a low income to ensure necessary bills are paid before luxury spending

It allows for heavily indebted consumers to have unsecured debt of up to R50 000 written off. Courtesy #DStv403

Credit counselling should be about personal contact. At CCSAC, a credit counsellor will be with you every step of the way on your journey to financial freedom.

Visit our website at www.solveyourdebts.com

Are you looking for debt solutions? Are you disorganized? Do you have trouble paying your bills? There is help. Youre not alone in this. We are a Canadian non-profit service, and we can help.