http://www.debtdiner.com/credit-card-debt-consolidation.html Credit card debt consolidation can offer you a way out of credit card debt. Read on to learn more about credit card debt consolidation. en-us Sat, 26 Jul 2008 15:00:00 EDT Sat, 26 Jul 2008 15:00:00 EDT Weblog Editor 2.0 Have you heard the news? The Debt Diner now accepts credit cards! But only from those who use them responsibly. For the rest of you, they offer information about credit card debt consolidation. American Credit Card Debt Credit card debt eating you alive, much like stomach acid? With credit card debt reaching epidemic proportions in this country, the need for credit card debt consolidation is greater than ever. Consider these statistics: Over 55 million Americans need debt help Americans bought $2 trillion worth of stuff on credit in 2004 Current outstanding debt in America is $800 billion Average amount of unpaid credit card debt for families who have it is $9,312 Credit card debt for Americans living below the poverty level doubled by the mid 1990s The average credit card balance for senior citizens went up 89% from 1992 to 2001 Benefits of Credit Card Debt Consolidation Credit card debt consolidation is a debt consolidation program that focuses on your credit card debt instead of all of your unsecured debts. (Unsecured debts don't have collateral or tangible assets attached to it, and typically includes credit cards, department store credit cards, non-government student loans, medical bills, and personal loans.) To get credit card debt consolidation, you must first hire a debt management company. Their credit card debt consolidation experts will contact your credit card companies and explain your situation. Then they will negotiate with them for lower balances and interest rates. The new, significantly lower balances are then bundled together, and you make one monthly payment to the debt consolidation company instead of several monthly payments to your creditors. The debt consolidation company will distribute your payment to your creditors each month. If you're concerned about anonymity, you can enroll in online debt consolidation. If you've missed a few payments or had late payments, that's going to appear on your credit report. But some creditors will report your accounts as current after they receive a few on-time payments. Also, if you've had late payments or missed payments, your creditors might be calling you or sending you threatening-looking mail. But enrollment in a credit card debt consolidation program can put a stop to all that. (Yet another benefit!) Get a taste of credit card debt consolidation by contacting a debt management company today. There are a variety of debt consolidation companies on the Internet. But don't just choose the first company that pops up. You need to do some research, just as you would with any important financial decision. Make sure the companies you are most interested in are nationally certified and accredited. Make sure they have a physical street address, make sure your creditors are willing to work with them and make sure they are ready and willing to answer any questions you have. To get started, many of these companies have forms on their web sites that you can complete and submit to give their debt management professional an idea of your situation so they can return the appropriate recommendations to you within 24 hours. Compare these recommendations and get a feel for which company you are most comfortable with. Sat, 26 Jul 2008 15:00:00 EDT