Credit card debt has been growing steadily over the years as consumers have been using credit cards more frequently. Credit cards have been becoming more of a common place on a daily basis. According to the Federal Reserve Bank (Fed), the aggregate US consumer debt (including installment debt, but not mortgage debt) arrive at $2.46 trillion in June 2007, an increase from $2.398 trillion at the end of 2006. Also, in June 2007, aggregate US consumer revolving debt reached $904 billion, an increase from $879 billion at the end of 2006 (source: Fed)

In addition to credit card debt, Americans have been garnering other forms of debt. More and more consumers are in need of credit repair, credit card consolidation, credit counseling, debt help, debt settlement, and debt consolidation services.

Debt Management Plan

Debt counseling servicing can help you in taking the first step to becoming debt free. You receive a customized, individualized plan to help you reduce stress, get peace of mind, and still pay off your debt.

In addition to any common debt, if you are in rigorous debt, you may want to consider finding about a Debt Management Plan (DMP). The DMP program is a methodical way to pay off your remaining debts through monthly deposits to a debt counseling service provider. In turn, the service provider distributes the deposited funds to your creditors.

By partaking in DMP, you gain from reduced or waived finance charges. Once your debt is repaid, the provider can help you re-establish your credit. Depending on the severity of your financial debt obligations, it may take between 24-60 months to settle up debts through a DMP. If your debt crisis seems insurmountable, participating in a Debt Management Plan is an effective first step on the road to long-tem financial success and a debt-free life.

Credit Counseling

Credit counseling is professional counseling provided by debt services and credit counseling organizations that help you structure methods for repayment of debt involving budgeting and management of your finances.

Expert credit counselors trained in helping consumers get out of credit card debt offer customized solutions that best meet their individual needs. The comprehensive credit counseling process involves, offering answers to your financial issues, advising you in budgeting and money management, formulating a personalized game plan to prevent future debt problems.

All sessions with a credit counselor are confidential, the counselor works with you in-depth to determine a financial plan of attack, so that you can do more with what you have.

It is also important that you make financial management an ongoing part of your daily life. Once you are out debt with the help of a credit counseling or debt consolidation service, you have to endeavor to maintain fiscal responsibility.