Consolidating Your Debt


By Roslyn Lash

Being in debt is not fun. In fact, it can be downright stressful! If you have so much debt that you can’t meet your bills, it will affect your credit score. About 35% of your credit score is determined by on-time payments.  So, if you are late on your payments or are totally unable to pay, your score will tank.  There are a few things that you can do to keep tabs on your finances and possibly to keep your score from dropping:

·      If you have been delinquent, start paying on time. If you can’t afford the payment amount, call the creditor to see if it can be reduced.

·      Prepare a budget. This will help you learn your spending habits and it will determine how much you can afford to spend.

·      Visit to develop a debt-reduction plan to pay off your bills.

·      Consider consolidation. This strategy will require careful consideration. If not carefully executed, you could find yourself in worst shape. I was quoted in an article by Credit Karma ***insert happy dance!** This article explains the 6 steps to do a balance transfer.  Once you’ve read the article, if you have any questions, feel free to email me at