Mist consolidation companies make big fees for getting your payments spread out longer, doubling what you pay in thelong run. Call the credit card companies and see what you can do to negotiate a long term payment plan.

You need to first contact Primerica Financial Services. They will look at your situation for free in person and explain if there is anything they can do to help you. Even if they can’t they will still come up with a plan to help you and not charge you anything. Trust me I used to work for them and hav helped many people including myself. They will educate you and wont cost you anything. I would go and talk to them first before you do anything.

I had the exact problem about 7 years ago. I also had $25,000 in credit card debt. I went to a non-profit agency called Consumer Debt Counseling. For a small fee they will negotiate a lower interest rate for you with each credit card company. They will get all late payment fees waived if there are any. They will have you bring all your cards and most recent statements in. Your accounts will be put in “inactive” status while they are being paid off. They will destroy your cards and ask that you don’t get any more while you’re in the program. I made $500 a month payments for about 5 years and was able to pay them off. It can be done.

It sucked while I was doing it but it paid off in spades! My credit never took a hit because of my choice to enter counseling. I never applied for credit of any kind while in the program. I lived well within my means. I can honestly say my credit is now in the mid 700’s. Credit companies LOVE me…..but I won’t fall into that trap again. I learned a valuable lesson from that mess. The day I paid off my debt was the happiest day of my life. Don’t wait…..do it tomorrow!