If you’re becoming overwhelmed by your increasing credit card debt, then it may be time for you to consolidate. If it’s gotten to the point where you can no longer make large payments with each of your creditors, then consolidating with our credit union in Brownsville should be your first plan of action. Here are a few steps you can take.
Create a Budget
Before consolidating, you should first write out a list of all bills you pay. You should then:
- Budget your needs, such as food and gasoline per week.
- Include financial opportunities for you and your family to enjoy eating out or for entertainment.
Reach Out to Your Creditors
Call all of your creditors and ask if they are willing to lower your payments or which solutions they have concerning your situation. Feel free to also use your budget to explain to each creditor why you need a lower amount in monthly bills and what you’re able to pay instead.
Prepare Your Finances
Before you consolidate your credit cards, prepare all of your documents ahead of time. If you do not have an account with VFCU, you will need to bring the following:
- Driver’s license with current address
- Social security card
- At least two recent check stubs
- Documentation of current balances from your creditors
- As many previous statements as possible
Consolidate with Our Credit Union in Brownsville!
After collecting all of the above, stop on by VFCU to learn how we can consolidate your debt! Contact us today to speak with one of our loan officers to help assess the best path for you!