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And you can verify if a lender is registered to do business in your state by contacting your state Attorney General’s office or your state’s Department of Banking or Financial Regulation.

Beware of any lender that promises to offer you a loan regardless of your credit.

For it to truly help you get out of debt, you have to stick to the plan, whether that’s paying off your credit card balance within a 12-month promotional financing period or making sure you make payments as agreed for the entire five-year loan term.

Throughout the process, you can keep tabs on how your credit card consolidation plan is affecting your credit by reviewing your free annual credit reports and viewing your Comments on articles and responses to those comments are not provided or commissioned by a bank advertiser.

The following five tips can help you figure out which credit card consolidation strategy suits you best.And if you make your credit card or loan payments as agreed, you’ll establish a positive payment history, which affects your credit scores more than anything else.(Payment history accounts for 35% of traditional credit scoring models.)Transferring credit card balances, paying off credit cards with a personal loan or enrolling in a debt management plan is only the beginning of credit card debt consolidation.Promotional interest rates expire — like 12 months of a 0% APR on a balance transfer card — so make sure you can repay your debt within that time frame, otherwise you may not be saving any money at all.The same goes for debt consolidation loans: Ask about any loan origination fees, and make sure the loan payment amount is something that easily fits into your budget.

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