1. If you spend more than 50% of your credit limit every month, this indicates to the Credit Bureau that you do NOT have enough cash on hand to meet your monthly expenses. This will identify you as a high credit risk and will actually reduce your credit score by 60 - 70 points overnight (Fair Isaac).

2. If you miss 1 or 2 payments on your credit card debt, the issuing company will skyrocket your interest rate to a whopping 27% - 30%!

3. Out of a random sample of 3 million American consumers (included in Experian's National Score Index), 51% of them have at least 2 credit cards and 14% of them have 10 or more credit cards.

Debt consolidation Policies of Bank of America - Loans

Other Names:	Bank of America Loans Center
Physical Address:	100 North Tryon Street Charlotte, North Carolina (NC) 28255
Phone #:	1800-551-4453
Fax #:
Their Cut (Fair Share):	Electronic Payments -> ? Paper Check -> 7%
Late Fees Charges:	n/a
Interest Rate Charged:	12%
Fresh Status:
Minimum Payment Accepted:	Debtor must pay 3% of the original balance in order to get a debt consolidation.
Account #'s:	Account #'s consist of 14 digits beginning with 0001, 0002, 0011, 0017, 0018, 0021, 0031, 0041, 0051, 0061, 0071, 0091, 0092, 0093, 0094, 0095, 0096, 0097, 0099, 6802, 6811, 6817, 6818, 6821, 6831, 6841, 6851, 6861, 6871, 6891, 6892, 6893, 6894, 6895, 6896, 6897 and 6899.
New Policies, Notes:	- Bank of America - Loans pulls accounts from collection agencies. - The company does not accept electronic payments.

Other Names: This is the other names that the debt consolidation firm possesses. You can use these other names to check Better Business Bureau (BBB) records of the firm.
Physical Address: This is the physical location of the debt consolidation firm. If the field is blank, please help us by providing us with the address of the firm.
Phone #: You can reach the debt consolidation firm at this phone #.
Their Cut (Fair Share): The debt consolidation firm will negotiate your debts with other creditors. In this, they will also take their "cut" or "fair share." For example, if your monthly payment is $400, the debt consolidation firm will deduct an automatic 10% of this ($40) and pass on the $360 to the creditors to whom you owe debts.
Late Fees Charges: This is the charges they put against any late payments you make while on your debt consolidation program.
Interest Rate Charged: This is the reduced interest rate you will be paying to your creditors whilst under the debt consolidation program.
Fresh Status: If you pay your bills regularly every month, the creditors might give your account a fresh status and re age your accounts.
Minimum Payment Accepted: This is the minimum monthly payments you must make to your creditors whilst under the debt consolidation program.
Account #'s: This is the pattern with which your creditors assign Account numbers. This will help you in locating any of your creditors.
New Policies, Notes: This shows any new policies being implemented by your creditors that will affect your debt consolidation program.