Unfortunately, I learned about credit card debt at a young age! When I was in college I signed up for every card that offered a free t-shirt. I didn't realize that you actually had to pay the money back until I had a job and kept getting bills!
Over the past ten years I've been able to pay the debt off but at one point we considered doing a secured debt consolidation loan. Some of the cards that I had were nailing me with finance charges of over 22 percent!
I finally got smart and transferred most of my balances over to cards that offered 0% interest for a year.
For people that aren't as fortunate The UKPersonalLoanStore offers some great information on paying back debt. They allow you search over 200 lenders who might help you with a secured consolidation loan. The website is easy to use and the sign up form is on the front page of their website.
If you're unable to stay afloat with high credit card charges -- then do the smart thing and seek help with loan consolidation.
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