Out of control credit card balances

March 11th, 2013

Stack of credit cardsIs your credit card balance too high for your liking? Consolidating your debt may help you gain better control of your finances. However, it’s important to do some research first to ensure you’re making the right decision.

For example, a recent MSN Money story highlights various things to consider, as some companies may be deceiving.

“Unfortunately, some companies advertise themselves as ‘debt consolidation providers’ when in reality they actually provide debt management, which is different.

Why do they call themselves something they’re not? Because they know people are out there looking for debt consolidation loans. Such companies are banking on people not recognizing the difference between debt consolidation and debt management.

The reality is that debt consolidation is a legitimate tactic for managing your debt — but only under the right circumstances.”

Debt consolidation may be the right choice for you. If it is something you’re considering, please consult with the experts at The First National Bank & Trust of Newtown.  Our 12 branch locations are always happy to discuss what the best fit is for you.