Weapons of Mass DistractionCredit Card Debt Consolidation

There's one thing I can't help notice going on these days is that Americans seem to be up to their necks in debt.  Many people are running around carrying a credit card balance that is 50% of their yearly salary.  I think that is insane, but I can understand how we get ourselves into trouble.  We are encouraged by our modern society to be good little consumers.  We have advertising constantly blasted in our faces telling us about the latest and greatest products that we need to have.  Combine our egos and competitive nature and we must have better stuff than the people around us, even if we can't actually afford it.  Next thing you know you find yourself making the mimimum payment and giving your first born child to Visa or Mastercard.  At least if you have an American Express you know you'll have to pay it off at the end of the month, and can't get yourself into this kind of trouble.  Then suddenly when it all seems hopeless along come these seemingly heroic companies and services offering you credit card and other debt consolidation.  While it may seem great, keep in mind that many of these places probably don't have your best interests in mind.  They're trying to make money just like everyone else.  Considering the amount of debt consolidation advertising on TV, Google, and other places, I'd say it must be a huge business.  In fact, some advertisers are paying over $50 every time someone clicks on one of their ads.  That should give you an indication of the amount of revenue being generated.  Be careful though, rolling all of your debt into one account can do some damage to your credit due to your existing accounts getting closed.  I think the best advice is to not use your credit cards unless it is an emergency.  Personally I've paid off the balance on mine and have no plan to let it get out of control ever again.

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