Credit Card Debt Consolidation- Is it right for you?

Do you have credit card debt? According Creditcards.com

, the average credit card debt per household is: $15,788. That is a lot of credit card debt! With the economy trying to get through a recession and unemployment so high, I can only imagine that consumer credit card debt is growing rapidly! There are a number of things one could do to get out of credit card debt. One of those is credit card debt consolidation. Not sure what credit card debt consolidation is or how it works. That is ok, because I am going to break it down in this article.

What is credit card debt consolidation? Who should use credit card debt consolidation? What are the benefits of consolidating credit card debt?

Credit card debt consolidation is when you combine multiple credit card bills into one. This is usually done by using a company who specializes in consolidating credit card debt.

For those of you who are do it yourselfers, you can look for balance transfer cards and then transfer your credit card debt to the one card. Just make sure you will be getting a lower interest rate. Now for the people who would rather go ahead and use a professional company to consolidate your credit card debt, typically these people will have $10,000- 15,000 in credit card debt.

The benefits of using a professional company for consolidating credit card debt are: The debt relief professionals communicate directly with your credit card companies. This means no more embarrassing phone calls to your home or job. Your credit card debt consultant will work with the credit card companies to get you lower interest rates, they can also get your late fees and over the limit fees dropped. These are all great benefits to help you get out of credit card debt faster, but one of the best benefits is that your consultant will work with you on setting up a budget and give you debt advice.

I hope this was helpful to those of you who are interested in consolidating credit card debt. Remember no matter what your situation is; it could always be worse! If you have $1,000 or $10,000 plus in credit card debt, work hard and stick to your budget (If you don't have one, make one) and in time you to will be debt free!

Credit Card Debt Consolidation- Is it right for you?

By: Josh Blackburn

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