Credit card debt has become a real problem in our society. The slogan, “Get it now and pay later” is getting more people into credit card debt than ever before. Sure, we all want things now, but at what cost? Interest rates are increasing every day, as credit card companies are raising their rate, because of non-paying consumers. Not only do you, as a consumer, pay for increased interest rates, you also pay for:

• Late payments—if you are more than 30 days late, the fees can be quite high
• Charges exceeding the credit limit—even if you exceed it just a little, the interest rate can skyrocket
• Returned check fees or payment processing fees
• Cash advances and convenience checks
• Transactions in foreign currency
• Membership fees

These charges can add up quickly and before people know it, consumer credit is out of control and right now, it seems as if a pattern is quickly developing, which hurts both creditor and consumer. Credit card fraud is at an all time high, according to the Federal Trade Commission, which ends up costing the taxpayer and the credit card companies. Credit card fraud can damage someone’s credit report for many years; therefore, it is crucial that consumers protect themselves. There is a solution, however; a way to pay off your creditors, develop a budgeting plan that will keep you in control, and protect you from credit card fraud.

Consumer credit counseling can help you in all those areas and with any debt you have. They can help you:

• Devise a budgeting plan, first taking into account the money you are bringing in
  
• Sit down and work out a workable budget, with the #1 priority of paying off creditors, usually in one lump sum
• Teach you how to balance your checkbook
• Reconcile bills
• Curb excessive spending and
• Devise a savings plan