These days, a lot of people are seeking credit card debt consolidation. They have spent more than they can handle and are using one credit card to pay the monthly minimum balance on other credit cards. We have all done this at least once. This can quickly turn into a painful financial disaster. There are some things that we cant avoid in order to get into this kind of trouble such as when faced with medical costs or having to pay for major repairs on the home or car, but the end result is still the same, and the stress can be overwhelming.

There are a lot of companies that you can find online that are offering credit card debt consolidation loans, especially loans that are based on equity in a home. While this process may help some people out, using home equity for such a purpose can leave the family with little or no equity in their largest asset and, if they do not or cannot change their spending habits, it may mean that the situation will only get worse.

If you find yourself in this position, you may have a way to deal with your problem without getting further into debt. You can start by looking at your credit card balances. If you have a balance available on a low-interest card, you can try to transfer the balances from other cards and concentrate on paying as much as you can on that low interest card each month rather than paying the higher interest cards.

Do not get any more credit cards unless you are offered one with a high limit and a very low interest rate that accepts balance transfers as well; remember this is how you got into this mess in the first place. If you have a credit card or two with relatively low balances, make the largest payments you can toward these each month to clear them out of the way a bit quicker. Each time you eliminate a monthly payment, it means you can make a larger payment on another card.

Finally, take the time to learn as much as you can about credit cards and what your options are. In some cases, you may be able to talk to the credit card company and get them to work out a plan for you. If you can’t do anything else and you own a home, you will still have the option of getting a credit card debt consolidation loan. You can of course, use your home as collateral. Just be sure that this is done as a last resort because this is the one asset that you will need for a larger reason than credit cards. And by the way, stop using your credit cards until they are paid off.

Contact one of our Christian counselors using the form on the right for some free credit card debt consolidation help and advice. They will help you to lower your debt payments today without the risk of a consolidation loan.