"It's like a mosquito that buzzes around your head and then starts gnawing at you until you do something about it." In fact, the more your finances are spread between financial institutions, the more likely you are to be inundated by needless paperwork.
And while you deal with that distraction you become susceptible to costly mistakes, like paying a bill late or writing a cheque on the wrong account and getting slapped with overdraft fees.
Between work, kids, friends and paying bills, things get pretty hectic.
Yet we have a tendency to add to that pressure by complicating things that should be kept simple. In a strange way we feel the more we spread our money across several accounts, the more control we have over it. The best way to gain control of your money is to streamline your bank accounts and bill payments.
We take the work out of debt management through debt consolidating: combining your payments into a single, predictable monthly payment. The average credit card interest rate is around 15% APR.
Debt consolidation offers debt relief by consolidating your monthly debt payments into one affordable payment.
Debt consolidation programs are offered by debt consolidation companies and by nonprofit credit counseling agencies.
Consumers can use debt consolidation as a tool to deal with student loan debt, credit card debt and other types of debt.
There are several ways consumers can lump debts into a single payment.