Getting credit cards later on

I think it depends..In the companies I talked to when I was considering consolidation, all accounts that you are paying on would be closed. However, if there's a card that you're current on and not running a huge balance, you could simply not put it in your plan. I would not do that with more than one though, and I wouldn't do it with a card that has a high IR, because you're already making a payment to the consolidation co, and extra payments could get expensive. After your consolidation program is finished and you want a card, You might be able to get one with a lower interest rate.

Hi

You won't be able to use those accounts that have been put in the consolidation program. This is done with the intention so that you don't build in additional debt. In case, if one is allowed to use those account that have been put in the program and keeps putting additional debt, he will never come out of the debt cycle and it will seem like chasing a moving target.

Elizabeth, when you consolidate your debts, you do generally have to close the accounts. However, when you are done with the consolidation, your credit will usually be much better. At this point, you can apply for a new credit card and, more often than not, you will qualify for a lower interest rate and better terms now that you have paid off your debts through debt consolidation. If you go this route, just be sure to learn from the past and avoid falling into the debt trap again.