Credit card debt consolidation is a possible way out of this problem, but you need to be very careful about it.

Firstly, you need to consolidate your credit card debt before it gets out of hand.  Once you start missing payments and your credit score is hit, you will find it harder and harder to either get new credit cards at good interest rates or get a credit card debt consolidation loan.

Secondly, once you have consolidated your credit card debt it is absolutely vital you get rid of your credit cards.  Destroy them all.  Every single one and DO NOT GET ANY MORE.

Seriously.

You must.

Because you know what happens if you don’t?

You find yourself a little short of money at the end of the month and just think, “Oh I’ll put it on the credit card” or you see something you really want and decide to just put it on the credit card.

Then, before you know it, your credit card debt has gone through the roof again and you are in a position where you need another credit card debt consolidation loan in order to manage your debt repayments.

And that’s when you are in real trouble.

Because you may well be struggling to pay off your original consolidation loan and there is no way you will be able to afford a second.

Far too many people sort out their credit card debt and then get straight back into debt again with the credit cards because they do not destroy them and get rid of them.

Credit cards are not free money or money you can use when you like.  Credit card companies want their pound of flesh from you, and will think nothing of extracting it from you!  The temptation is to use credit cards when you are caught short and need some extra cash, but that is a slippery slope into credit card debt.

Once you get beyond a certain level of debt, you will reach a stage where there is no way you can get out of the debt again and your only solution it to look at something like bankruptcy.

If you are in a position where you can get a credit card debt consolidation loan then you really need to do so now.  Once you have got one at the best possible interest rate, destroy all your credit cards and never get another one.  That way, you can get out of debt and stay out of it.