Credit Card Debt

If you have ever found yourself in serious credit card debt, you are not the only one. In fact, credit card debt is the number one financial problem of many households across North America with families and individuals owing an average balance of $8000 spread over several credit or department store cards. Because credit cards charge such high interest rates, carrying a high balance means that a sizeable chunk of your monthly budget goes towards paying off the interest without ever actually reducing the overall balance. And the longer it takes to pay off the balance, the more interest you will be paying in the long-term, costing you hundreds, if not thousands, of your hard-earned dollars a year.

Too Much Credit

While it is becoming increasingly popular to "just charge it", a reliance on too much credit is what gets people into debt in the first place. The following is a list of warning signs that you may be overusing your credit cards and are more than likely heading down the road to credit card debt:

• Having to withdraw money from one credit card account in order to pay off another.
  
  
• Being unable to meet the minimum monthly payments on your credit cards.
  
  
• Being unable to pay off the balance on your credit card for two consecutive months.
  
  
• Excessive worrying or emotional stress due to your increasing credit card balances.
  
  
• Compulsive buying on credit.
  

If you meet any of these criteria, it may be time to consider a credit card debt consolidation in order to pay off your credit card balances and enjoy a more financially secure future.

How It Works

Like other debt consolidation programs, credit card debt consolidation allows you to pay off all your credit card debts with one monthly payment that is often much less than you would have to pay otherwise.

By consolidating all of your credit card debts into one lump sum, the program can save you thousands of dollars in interest and puts you on a realistic timetable to become debt free once more.