You find yourself in increasing debt on multiple credit cards, as time goes on it only gets worse.
You want to do something constructive about it.
Wouldn't everybody? Almost everybody in the civilized world finds themselves in some sort of debt these days.
It only gets worse as time progresses until you can barely afford the minimum amounts.
If you find yourself struggling to make the minimum payments each month then finding out how to consolidate credit card debt should be your top priority, nobody wants to be paying off debt for most of their life.
When most people first try to consolidate their debt there are two places they try.
A local bank or possibly a questionable lender in their area who is known to give loans to people with bad credit.
You will rarely find the answers you are looking for from either place.
It will most likely go something like this.
Bank - Although polite the bank employee will rarely be able to do anything for you.
Applying for a loan with a mountain of credit card debt is simply implausible.
There is simply nothing the bank can do for you, in fact do not be surprised if the employee thinks your foolish for even trying.
Not exactly as you had hoped.
Questionable Lender - You will probably be given what you request from these places.
You will be able to consolidate credit card debt but do not be surprised when you find the loan comes with unwanted extras.
You will have to offer some collateral on your loan, this can range from your house to your car.
You will also be forced to pay ludicrous interest rates.
The result may end in you being able to consolidate credit card debt, but only with perhaps an even worse loan than you had before and with your home or something else of great value on the line.
Would you say this sounds like an improvement? I doubt it.
Now you are probably wondering how you can actually consolidate credit card debt without running into these problems.
Your best option is to use a company that has only one purpose, to help people consolidate their debt into easy to manage payments.
You can not expect help from the companies you owe the money to, all they care about is collecting on what they are owed.
It does not matter to them what financial situation you are in at the time, they just want their money.
The good news is with the rise of debt in the modern world, there has arisen more and more non-profit groups set up to help.
These organizations have one purpose, to help you consolidate credit card debt.
The first step was to achieve non-profit exemption.
This meant that any concessions given by those you owe money to become tax write offs once the non-profit organization negotiates for you.
This means that when the non-profit organization gets involved the credit card companies no longer need to worry about losing money.
Being able to write off any difference in their corporate taxes means that even reducing interest rates to 0% allows the credit card company to come out of the deal in a favorable position.
Does it make sense now? This may not be the most traditional way to consolidate credit card debt.
However it is fast becoming more and more popular as a greater amount of people become aware of the possibilities.
You could feel like you are being suffocated by debt, take some time to investigate this option and find out what it can do for you.