Credit card debt is growing every day, with credit cards becoming easier to obtain, consumers balances are on the rise, and people are even using one credit card to pay off another. Credit card debt is also becoming a problem on college campuses and it is a major factor in a lot of bankruptcy cases, with near $20 billion discharged in chapter 7 bankruptcy cases each year. It is an outbreak in world but even more so in the western world, most notable in the US.

1. Credit Card Debt Help
Credit card debt is growing every day, with credit cards becoming easier to obtain,
consumers balances are on the rise, and people are even using one credit card to pay off
another. Credit card debt is also becoming a problem on college campuses and it is a major
factor in a lot of bankruptcy cases, with near $20 billion discharged in chapter 7
bankruptcy cases each year. It is an outbreak in world but even more so in the western
world, most notable in the US.
A debt consolidation loan could help you to consolidate the high debts on your current
credit cards to a lower interest rate and probably a lower payment. Consolidation loans
are intended to help consumers pay off their bills and lower debt. When you have many
cards with large amounts of debt and high interest, debt consolidation can be a life saver.
Rates on credit cards vary quite a bit, so a good idea is to know all your rates and try to
transfer balances to lower rate cards when ever possible. It is also possible that consumers
can call their creditors and negotiate for lower interest rates, usually it's best to consolidate
the debt at a lower rate when possible. If you fail to make your monthly payments as
agreed, your interest rate will then go to the penalty rate which is usually quite high.
Overwhelming credit card debt is also causing students to be hounded by creditors and in
many cases, declaring bankruptcy said Candy Acezedo, director of education at Consumer
Credit Counseling Service. A high debt can also force a student to take a part time or
regular job, which often will have a negative effect on their studies.
The best way to stay out of trouble with debt, is to just use your head and don't spend
money you know you will have a hard time paying back. If you are already drowning in
debt, there are free credit counseling agencies that can be found here, that will be able to
help get you started in the right direction.
Credit card debt can be the source of needless stress in our lives, and has the potential to
have a negative impact on your life. Credit card debt is not just a problem in the U.S. it is
also increasing in industrialized countries as well. Credit card debt is also a major issue in a
large number of consumer bankruptcies. Credit card debt will make it more difficult to live
the life that you deserve.
Students
College students are among the most vulnerable to credit card debt. Credit card debt is
growing faster among students than in any other part of society. Students are often offered
incentives to apply for credit cards, and some requirements are often waived. With the
ability to buy something now and pay for it later can be hard to resist for students, and most
are already struggling financially. The Public Interest Research Group's - quot;PIRGquot; Student
Credit Card Trap study in 1998 found that most students who received credit a credit card
from campus tables had higher unpaid balances than other students who received the credit
cards elsewhere and were more likely to roll over their balance from month to month.

2. Interest
Credit card companies have started to take an interest in educating credit card users
because knowledgeable consumers are much less likely to be overwhelmed by debt,
leaving them in a much better position to make their payments on-time and avoid getting
bad credit and even bankruptcy. If your already overwhelmed by credit card debt, consider
a debt consolidation loan, so instead of having a lot of high interest credit card bills due,
you now will have one bill that is due once a month usually at a lower rate. Consolidating
credit card debt can be as simple as contacting one of the many credit counseling agencies
on the web. According to the Consumer Action, (a public interest organization) who does a
survey once a year of over one hundred credit card companies, card holders can be hit with
late fees of up to $39 and raised interest rates.
The increase in credit card debt is rising at an alarming rate. Some popular economists are
predicting that the rise in credit debt is likely to continue. Many people do not realize how
debilitating credit card debt can be to their lives.
REDUCE YOUR DEBT AND START MAKING MONEY !