AP reports on the rush to consolidate credit card debt:

In the wake of the jump in defaults on subprime mortgage loans made to borrowers with poor credit histories, banks have been less willing to allow consumers to consolidate credit card debt into home equity loans or refinanced mortgages. That is leaving some with no option but to miss payments, economists said. Investors also are backing away from buying securitized credit-card debt, said Moshe Orenbuch, managing director at Credit Suisse. But that probably has more to do with concerns about the overall health of the U.S. economy, he said. "It's been getting tougher to finance any kind of structured finance -- mortgages, automobile loans, credit cards, student loans," said Orenbuch, who specializes in the credit industry. Capital One Financial Corp. reported that delinquencies and defaults are highest in regions where troubled mortgages are concentrated, including California and Florida.

From the FinancialPost.com, this article about consolidating credit card debt:

He's got about $20,000 total outstanding on two credit cards, his wife's line of credit is jacked up another $10,000 and he's paying double-digit interest rates. With that much debt, it would seem like a no-brainer that one of my good friends, who shall remain nameless, should consolidate his debt. After all, he has close to $200,000 in equity in his home, plenty of cash to pay down all those credit cards and lines of credit that are costing him more than $400 in interest each month to carry. "No, I'm not touching those at all. I'm gonna pay them down on my own," he told the bank manager who tried to advise him to pay off the credit cards and tack the debt onto his mortgage. "If I pay off those cards, I'm just going to rack them up again right to the limit." His addiction to eBay and the fact that one of his cards is registered with an online betting service have not helped him fight his growing credit problem, but the bottom line is he know his limits -- certainly his credit limit. The logic may seem flawed, but my friend is not alone in recognizing the inherent problems that come with consolidating debt and paying down credit cards. Credit counsellors say a significant portion of consumers will simply max their credit cards back out again once they get the balance down to zero.

Asheesh Mani writes about how to consolidate credit card debt:

So, you find that debts emerging from your existing credit cards are wrecking your finances and pushing you towards bankruptcy. Simple, seek another option, the credit card debt refinance one. This is a way of transferring or consolidating all existing debts of your credit cards with a new card with the help of a credit card debt consolidation company. One more new card- wouldn’t that mean one more burden to take over? Absolutely No!

Consumers under the immense pressure of credit card debts can actually consolidate their total debt amount of existing cards to a new, single card. Now, credit cards specially designed to refinance credit card debt come at much lower rates. That gives you a low interest consolidation loan to reduce your debt level.

What Is Credit Card Debt Refinance? With the credit card debt refinance option, you can take the opportunity of using a credit card at an exceptionally lower rate. There are several credit card debt consolidation companies which offer cards at zero level of interest rate for a certain period of time. For a specific number of months, you can transact and pay off bills of those credit cards at zero percent interest rates before the high interest rates begin. After you use this card with zero interest rate payment term, you can consolidate credit card debt by transferring or refinancing your previous credit card debt with a new zero interest payment card.

Here's a report on consolidating credit card debt:

If you are looking out for a way to eliminate the mounting credit card debts and regain control over your finances, credit card debt consolidation might be an ideal answer for you. The credit card debt consolidation loan carry virtually endless advantages, which can eventually help you bid farewell to all your debt worries. Some of the advantages can be described as follows.

When you are unable to pay a particular instalment for your credit card loan, interest and other penalties are charged on you. This way, the total amount of debts eventually becomes bigger and bigger. When you go for a credit card debt consolidation through a reliable program, the first thing it does is that it eliminates the accrued interest and other financial charges. And, you are left with a much-reduced amount that you need to pay. You can understand this with a simple example. Suppose the original credit card debt that you owe is $5000, but since you defaulted on certain instalments, the interest and penalties just stacked over this debt and the eventual debt reached to $8000. It means $3000 are just for certain financial charges. Now, when you go for a credit card debt consolidation program, the first thing it does is that it eliminates the debt to $5000, deducting the other financial charges.

When you apply for a credit card debt consolidation loan, you get the valuable services of a debt counsellor. The counsellor negotiates with your credit card companies and persuades them to substantially reduce the rate of interest. The new interest rates that are much lower than the earlier do not only reduce your overall debts but they also substantially reduce the amount of the monthly instalments payable. Let me give you an example. Suppose, you owe to three credit card companies and the interest rate they charge are 16%, 14% and 12% respectively. This way, the average interest rate becomes 14%. Now, the counsellor negotiates with the credit card companies and turns up with a much lower interest rate as 10%, 9% and 8%. This way, now the average rate of interest payable is just 9%. You can see the substantial difference and the amount you can save. Thus you come out that much informed from a session with credit card debt consolidation counselling.

Saurabh Jain writes the drive to consolidate credit card debt:

A bad credit report can ruin your financial life forever. Please do not let this happen to you. If you have mismanaged finances for some time, then look for a bad credit debt consolidation advice to get out of your financial mess and get credit card debt relief. When you receive service or cash on your credit card, it is your duty to keep the trust of the creditor company and pay your dues on time. It is very necessary to keep good credit. In today’s world, we can get everything on credit. You simply cannot buy a car, a house, its furnishings, or even a computer without credit. It is so easy to fall out of good credit as well. A few late payments are enough to start the rot. It Is Time To Wakeup Has your credit rating fallen lately? Have you been late on your payments because of illness, injury or unemployment? When bad times befall good people then help is available in the form of credit card debt online counselors. You can also seek best credit card debt help online. Here are a few tips on credit repair.