If you have been thinking about the process of consolidating credit card debt, then you should learn all the truth and get all your facts straight before you do it.
You need to learn all the implications and consequences in order to make an informed decision.
It is no secret that millions of Americans have been suffering from a tough economic crisis for a while now.
This has forced millions and millions of families to get into deep credit problems just to pay for basic living expenses after they have lost their jobs or gotten a cut in pay.
People like you, that are feeling the strain in their health and family relationships because of the big deal of stress in which they are by getting dozens of threatening phone calls every day to their work place or homes.
If you are thinking that you can consolidate credit card debts and then be done with it, then think twice.
While debt consolidation is a viable choice for many, not all solutions are good for every person.
That's why you need to learn facts and options before you decide.
Debt consolidation is a good choice for many and it involves stop payment on your debts and obtaining the help of a middle man or agency that will deal with your creditors on your behalf.
After about 10 months or so that your debt is sold to a collection agency, or charged off as they say, then you will settle on pennies on the dollar.
Even after you've repaid your debt, this mark will stay on your credit report for up to 10 years.
So as you see, you must really investigate your choices before committing to consolidating credit card debt and find out what other options you have.