stage, there are tendency that we keep everything (payment) on hold till next month, next month and next month, where, without you knowing, your bills are rising and rising and we called it Credit Card Debt"
Credit card debt initially grows in 2 ways. One is due to addition of a new debt on account of fresh spends on your card and the second is due to the addition of "Low interest" interest charges to the existing card debt. Once your card debt grows too much that you can't handle it, you will then need assistance for all these card debts. We called it Card Debt Consolidation.
The process of card debt consolidation can be referred to as balance transfer process (you transfer the balance or debt from one card to another). When most people think of debt consolidation, they think of those companies with the commercials featuring people in desperate situations, worrying about how they are going to pay their card bills.
Credit card debt consolidation could also be called as a loan. These loan could be a personal loan, a home equity loan, or a loan specifically for card debt consolidation. Many people view debt-consolidation loans as a way of helping them get out of debt, but please do take note that these consolidation loans simply combine debt.
As from Today, the average family owes roughly $7,000 on their cards. (According to Sources).
F.J.Yanie Sulzerino is an internet entrepreneur and a freelance writer. For more information aboutCredit Card,you can check his website about Low APR Card and other Card Information and Resources.