The issue of excessive credit card debt can be looked at from 2 angles. First is addressing of the excessive credit card debt problem at the industry level and second is the addressing of the excessive credit card debt problem at the individual’s level i.e. at the credit card holder level. The first method involves increasing awareness of the excessive credit card debt problem to the masses. This is more or less being done currently too.

However, there should also be an effort to tackle this problem of excessive credit card debt at an even deeper level. This means trying to devise a mechanism to nip the problem (of excessive credit card debt) in the bud. This mechanism should actually be a part of the overall system. A lot of thought needs to go into devising such a mechanism. Case studies should be taken up, statistics gathered and a proper forum formed (with representatives from the credit card holders and from the credit card suppliers).

As of now, the credit card suppliers just seem to be engaged in coming out with new products and getting customers enrolled to those products. There is little attention paid towards addressing the problem of excessive credit card debt in the real sense. Something like attending mandatory seminars on the root causes of excessive credit card debt could be made part of the credit card application process. Another way of dealing with the problem of excessive credit card debt could be: developing a system for calculation of applicable credit card limit at the individual level i.e. no standard/product-based credit limits.

Then there could be mechanisms for proactively warning the users about excessive credit card debt (based on their credit card usage) or even imposition of early restrictions on noticing the first signs that lead to excessive credit card debt At the individual’s level, the treatment of the problem of excessive credit card debt would include following of best practices (on credit card usage and avoidance of excessive credit card debt) by the individuals themselves. A checklist or a set of questions could be provided to individuals for recognising the first signs of excessive credit card debt.

So, the problem of excessive credit card debt can surely be dealt with by putting together some serious thinking at a broader level together with discipline at the individual’s level.

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www.TheCreditCardSolution.com offers free videos on credit card debt help, lawsuits, default judgments, and other credit topics from credit card debt expert Bob Lindsey. This program offers a national network of debt lawyers using a proven strategy to prevent lawsuits, judgments and debt collector harassment.

Help answer the question about credit card debt

Is there a way for credit card companies to forgive a portion of credit card debt?
Getting rid of debt is a priority in my family. We''ve been regular with our credit card payments. A word to you younger folks: never, ever use a credit card for anything.

I was curious if there was a way for credit card companies to forgive a portion of debt if you've been regular with your payments.

About Author

Uchenna Ani-Okoye is an internet marketing advisor and co founder of Free Affiliate Programs

For more information and resource links on bad credit loans visit: Small Business Loans Bad Credit

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My Fix for Excessive Credit Card Debt

There are many companies providing the service of credit card debt relief today with adverts on the radio, TV or press on a constant basis. It is always wise to be cautious about committing to anything that is heavily advertised without knowing exactly what you are getting yourself into. Credit card debt consolidation companies must be of concern to the Federal Trade Commission and Office of Fair trading in both these countries because they are warning people about the practices of these organizations. Quite often you’ll still end up with a bad credit record when you are making a serious effort to clear your credit card debt, which may have been made worse by the company that was helping you.

Unfortunately, getting your credit card debt relief moving can take some time but time is of the essence so it’s worth having the process started as quickly as possible. Contact your credit card company and explain your situation, sometimes, they may be able to assist you and lower your interest rates or payments. The credit card companies can, at their discretion, put into effect a package that won’t have any ill effects on your credit in the future. Credit card counseling services can be of great assistance and if you are lucky, you may find one that does not charge for their services and advice. It is often the case that they just sit down and go through your budget with you and highlight ways to save money and sometimes mediate with your credit card company for you. It never hurts to follow the advice of these professional as credit card counseling service companies will know exactly if what you plan to do will affect your credit rating. Often the hardest part is making the initial contact but you must if you intend to get help with getting credit card debt relief and these companies have a great deal of experience that you can call upon.

Talk to your bank and if you have equity in your home and are getting a steady income, you may want to consider getting a home equity loan to provide some credit card debt relief. Equity loans can help but only if the amount of the new loan is lower than the credit card debt that has been cleared and if you fail to pay this debt your house is under threat. Part-time jobs or any way of finding an additional income can help to provide you with some credit card debt relief.

And no matter what, cut up the credit cards, because the less debt you continue to accrue, the less credit card debt relief you will need.

Finally, use the Internet because now there are many sources of help that not only help you to remove these debts, but they can often put you on the path to having money in your own pockets without the need for credit cards. However these companies are few and far between, but are emerging due to the badly written contracts drawn up between the credit card companies and you and as such many of these contracts are un-enforceable.

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www.TheCreditCardSolution.com and view FREE videos by Bob Lindsey on a remarkable plan that has helped thousands of debtors eliminate their credit card debt. Christian debt relief that works. This approach is 100% legal and very effective. Here are some keywords used to find these…

Help answer the question about credit card debt

Does the credit card debt restart if a different agencies send letters about your debt even after 6 years?
I mean i heard after 6 years or so your credit card debt is written off, but if during those 6 years you get letters from different solictors, agencies etc does this include the 6 years or is it restarted from the beggining when to a another agency?

About Author

Glen Francis the author has experienced the full force of credit card companies and banks during his early days setting up his company and has learned the hard way how do deal with these companies with success.

Find out more about dealling with Credit Card Debt at If you want to learn how to eliminate that debt

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Eliminate Your Credit Card Debt Using Legal Loophole

There are many credit card consolidation services available out there. These companies are out there to help people who have credit card arrears repay at a faster rate and also at a lower cost. There are many things individuals need to keep in mind in order to strive for a debt free life ahead.

Using credit cards or “plastic money” can cause havoc to the individuals using them. For many having too many cards is the issue. By keeping less cards thus less spending. By keeping a credit card for emergencies only is one way to begin. By doing this than there will be less need for credit card debt consolidation in the future. And like many who are in debt you will feel much better.

Another great step in avoiding having to do credit card debt consolidation is cutting down ones overall spending. Keep track of what you are spending. Are you charging unnecessary items? For those that have the self discipline tightening the belt and being aggressive with spending can work wonders. If you are really deep in debt than you should be concentrating on paying the debts that are due verses what luxury you need to buy next.

All individuals should consider starting an emergency fund. For those who are already in debt an emergency can be the “straw the breaks the camel’s back”. Many successful people with great credit keep an emergency fund just for this reason. They have something to fall back on just in case. For those who have high interest rates on existing credit cards the last thing you want to do is make the bill that much higher. These are the bills you are already struggling with.

Next you need to look at what credit cards you are paying. Check the interest rates and annual payments. If you have a higher one you may want to consolidate it with a lower one thus saving you more money. This will help you achieve financial success. Credit card consolidation is a great way to take the first step. Getting rid of the high interest rates before the debt gets too high saves money.

As mentioned earlier, you need to prioritize and stay strong. If you feel there is no hope then consult a professional. There are many available out there and you do not have to spend a lot of money. The little you spend getting the help you need will save you bundles in the end.

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Credit Card Debt Consolidation

Do you have multi credit cards with balances on them? Are you looking to better your credit? Learning how to consolidate your credit cards may be a great way to start. There are many great reasons as to why to consolidate your credit cards and we will touch on a few of the better ones.

The following are just a few tips as to why you should consolidate your credit cards. These are not the only reasons and there are many more that can be discussed in future articles.

Why consolidate your credit cards?

One of the major reasons why people consolidate their credit cards is to get a better rate. Nobody out there wants to pay out more money than they actually have too. Anytime you can consolidate you should jump on it. There are always advantages to saving money. Not to mention it will get your credit card balances down with the extra money you have to put on the payment.

First, get all your credit card statements together. Make a list of them all and all the interest rates you are paying. You may be surprised at some of the rates you are paying. Now compare this to the new rate that is being offered to you. If this rate is considerably lower than you are better off consolidating your credit card debt. Take into account that if you have credit cards already existing that has a lower rate than you do not have to consolidate these in with existing credit card debt. You are looking to consolidate credit card debt not spend more. It makes no sense to pay more money.

Another great reason to consider consolidating all your credit card debt into one is the fact you only get one bill. Life is much simpler when you have to keep track of one bill verses say 3-5 bills. In this case you can make the payment on the one while not trying to remember if you’ve missed a bill payment. Do not use this as your only reason for consolidating your credit card debt. If you are not careful and watching the beginning rate you could end up costing yourself more trying to make things simple.

When you consolidate credit card debt you also give yourself a better chance of getting out of the credit card crunch. This gives those who have gotten themselves into a mess a better chance of getting out of it.

By consolidating credit card debt chances are you may have lower monthly payments and better chances of fixing ones credit.

Seeking Professional help to consolidate credit card debt?

As with any major financial decision a professional can give the best advice. Many credit card companies out there as well as banks are willing to help. When seeking help make sure there are no hidden fees. You may want to double check this and even get something in writing before agreeing. Doing your research the right way can and will save you lots of money in the end.

Is it time to make the choice?

If you are feeling that now is the time then take the first step. Look at all your finances in detail. Next, consult with a professional and you are well on your way.

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Consolidate Credit Card Debt