Credit card consolidation - questions.

When you consolidate cc, can you still have a cc?

Also, what is the best credit card consolidation service available?

Is there a company in the Bay Area that I can meet with in person, or will I have to conduct all of the proceedings/questions/meetings by way of e-mail?

Finally, how long does debt consolidation take - from start to finish?

Thank you.

My take on CC is this, if you have to consolidate them then you have a problem, you can't make the minimum payment. You do NOT need another credit card because it sounds like you are living beyond your means. So please focus on getting your debt payed down, paying your daily expenses with cash and not accruing any more unsecured debt. Good luck

The process of how long debt consolidation takes on CC would depend on how much you are in debt with them. As for being able to keep a CC, when I contacted a consolidation company about mine, they had told me if I didn't want to include all my CC, I didn't have too.

Brownsugar you're right, I've been told that you should keep one and not use it, save it for a TRUE emergency.

building up a nest egg fund ie saving account, money market account can help when a true emergency comes around and then you have the cash to pay for it and don't have to worry about finance charges or paying an unsecured debt off. Good luck

It is good to build a savings account etc... It is how you choose to be responsible with the cc and that you can truly set it aside for that emergency when it arises and you don't have enough in that savings account to pay for it. You always have the option of paying the cc off before the next cycle to avoid accruing the finance fees.

I still think having cahs on hand to pay a bill is the best way, then when the bill or emergency is handled you don't ever have to think about it, it just seems like peace of mind to me.

In my opinion, I would keep one CC aside just in case of an emergency; for instance, if you needed to rent a car, you would have the credit card to do that. Alot of rental car companies don't accept cash, at least that's the way it is here in Ohio. If you can set the one CC aside and not use it for anything else but emergency, then keep one.

You're right Brownsugar, you have to have a cc in order to rent a car, reserve a hotel room, etc.....And how do you anticipate how much an emergency is going to cost or when it will arise? I think that is why it is called an emergency. You could technically rent a car or reserve a hotel room on a debit card, but I can tell you that here in OH they will put a $300-500 hold on that account, and that is a pretty big hold to put on your account, and the hold isn't usually released for 3-7 business days.

Debit cars work great for renting cars and hotel rooms. I use mine that way and usually if I am renting a hotel room or car then I have the cash in my account to cover the expenses. that is what is great about cash its always there and there is no finance charge on it.

Well, like I said, a rental center for cars will place a $300-500 hold on your account for 3-7 business days, and you won't have access to the funds if needed. So if you have $300-500 in your account that you can afford to let sit there in suspension then that is great it shouldn't be a problem for the person. But if you don't then it is a problem.

That is why having a cash nest egg is so important these days.

I agree with you Steelers1, some people don't have that kind of money to set aside until the rental company releases the funds back to their account.

Do you have a nice nest egg set aside? Most people coming here do not, and are just in the beginning stages.

I am working on one as we speak by working several jobs and going back to school to improve my employment prospects, thanks for asking )

Good for you.