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Another mistake, she says, is consolidating credit card debt from multiple cards into another card.

People are often attracted to deals claiming “no interest” the first year.

If you have trouble managing multiple debts and are dissatisfied with your current interest rates, this is a worthwhile move.

However, if you have a high debt-to-income ratio or are concerned you could lose an important asset, reconsider your options.

On the other hand, if your current monthly debt payments total

On the other hand, if your current monthly debt payments total $1,500 and you bring home $2,500 a month, you’re in a very tight financial situation.

According to the Federal Reserve Bank of Philadelphia, consumers held a whopping $2.7 trillion in debt as of the second half of 2012.

Within that, the average household with credit card debt owes nearly $16,000, according to Credit

Additionally, the average credit card holder owned 3.5 cards as of 2008, as notes the Federal Reserve Bank of Boston. Plenty of citizens are knee-deep in debt, often from multiple sources.

With that comes confusion over paying multiple creditors at various interest rates, which can lead to a messy financial situation.

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On the other hand, if your current monthly debt payments total $1,500 and you bring home $2,500 a month, you’re in a very tight financial situation.According to the Federal Reserve Bank of Philadelphia, consumers held a whopping $2.7 trillion in debt as of the second half of 2012.Within that, the average household with credit card debt owes nearly $16,000, according to Credit Additionally, the average credit card holder owned 3.5 cards as of 2008, as notes the Federal Reserve Bank of Boston. Plenty of citizens are knee-deep in debt, often from multiple sources.With that comes confusion over paying multiple creditors at various interest rates, which can lead to a messy financial situation.

,500 and you bring home ,500 a month, you’re in a very tight financial situation.According to the Federal Reserve Bank of Philadelphia, consumers held a whopping .7 trillion in debt as of the second half of 2012.Within that, the average household with credit card debt owes nearly ,000, according to Credit Additionally, the average credit card holder owned 3.5 cards as of 2008, as notes the Federal Reserve Bank of Boston. Plenty of citizens are knee-deep in debt, often from multiple sources.With that comes confusion over paying multiple creditors at various interest rates, which can lead to a messy financial situation.