While consumers with good credit and manageable credit card debt can often utilize 0% balance transfers to quickly and inexpensively extricate themselves from credit card debt, many consumers either have too much credit card debt or lack the credit needed to qualify for a low rate balance transfer.
If you fall into the latter category, the best approach to getting out of credit card debt may be the use of a consumer credit counseling service. Unfortunately, the web is littered with shady debt consolidation firms promising miracle debt reduction. Avoid sites like these, as they can sock you with high fees, ruin your credit score, and ultimately leave you in a worse position than you were when you sought their assistance.
That said, consumers who need help getting out of debt can utilize the resources available from the National Foundation for Credit Counseling at www.nfcc.org.
At this website, you can search for a credit counselor in your area that can help you get your credit card debt in control. The companies listed at www.nfcc.org do not promise to cut your debt by 50%. They work with your credit card companies to help you work out payment plans and lower your interest rates to levels you can afford.
