(Note: After much thought, I have decided to allow guest posts on Surviving Bad Credit. This site’s first guest post comes from Robin Williams, a writer who covers various finance topics. If you have an idea for a guest post, send me an email at MikeOwens.SBC@gmail.com.)

Are you wondering whether or not you should consolidate your credit card debts? If you are getting dunning notices from creditors and your accounts are being turned down to collection agencies, then your next step would be to consolidate your credit card debts and save money at the same time. Just use the credit card payoff calculator to determine what it will take to pay off your credit card debts and what you can change to meet your repayment goals. Have a look at the benefits of credit card debt consolidation program and how it saves money.

1. Lowers interest rate: While you enroll yourself in a debt consolidation program, your debt consultant will negotiate with your creditors and attempt to lower the interest rates on your credit card debts. If you pay off your credit card debts with a lower interest rate, then it is very obvious that you save those extra dollars that you had to pay on huge interest rates.
2. Single monthly payment: If you decide to pay off your debts through a debt consolidation program, then you can save a lot of money on your monthly payments. As you consolidate all your credit card debt obligations, you only have to make a single payment to the debt consolidation company. This is certainly better than writing multiple checks to multiple creditors. Instead you just have to accumulate your savings in the debt account with the consolidation company. They will later on disburse this money to your creditors.
3. Waives off late fees and penalties: If you have been late on your monthly payments, then your late fees and penalties must have accumulated, increasing your total outstanding amount. With a debt consolidation program, your debt consultant will waive off all kinds of late fees and penalties thereby helping you to save money.
4. Negotiates on your behalf: As you enter a debt consolidation program, you are no longer required to keep direct contact with your creditors. The debt consultant starts negotiating on your behalf. You may also stop receiving harassing creditor calls as the creditors will keep in touch with your debt consultant. Since you need not make any kind of payments to your creditors, you can save a lot of time and money.

Thus, if you have determined what it will take to pay off your debts through a credit card payoff calculator, then go straight to a debt consolidation company. Take into account the above mentioned benefits to pay off your debts and save money at the same time.

This is a guest post made by Robin Williams who covers credit card debt, credit history, credit repair and related topics.