Eligibility criteria for credit card debt consolidation programs explained

Not everyone qualifies for credit card debt consolidation programs, which help manage high-interest debt by combining multiple debts into a single loan. Eligibility typically requires a minimum of $7,500 to $10,000 in unsecured debt and a stable income. Applicants usually need a fair credit score, often in the mid-600s or higher, though some programs accept higher debt-to-income ratios than traditional lenders. A stable income is also necessary to ensure regular monthly payments. If you don't qualify for a consolidation program, alternatives include debt management plans, debt settlement, or negotiating directly with creditors. Creating a budget and using repayment strategies can also help manage debt effectively.