Hi Friends

Can any one who have knowledge in only please reply this.

I am in 22 G debt of credit cards and paying 575 every month for minimum payments

I want to reduce interest as much as possible and clear principal soon

Present credit score is around 585

I want know how the debt consilidation by Bank will effect future credit.

What are the other options to consolidate my debts and make life little easier

Dont have intention to avoid payments or forfiet just to reduce load of monthly payments and streamline

pls reply

Rahul

Ashedfc has already given good suggestions.

You may also want to check with citifinancial or HSBC Financial (not bank) and check what interest rates they will give. There interest rates are typically 3-4% less than CC companies.

But if try to apply for more credit (credit card, line of credit or any other type of credit) too many times in short period of time, your fico score will go down.

Thanks a lot

But at this time my score is 585 (bcaz i closed unused credit cards so that my availabilty gone down and used 100%)

any chances to get bank debt consolidation at this scores

Better declare backruptcy / debt consolidation and just move on !
The economy is very bad and hence if you start paying just the interest, you will go no where.
It looks like you are getting a regular salary. This is a good thing.
Peace

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I am a Gents and not a Ladies.

Bankruptcy for $22,000 loan. You must be kidding!