The percentage of people who own at least one credit card increases every year but there again, credit card debt is also at a record high as well; many families are now experiencing severe financial problems. The problem is it is just too easy to spend money but now people are looking for ways to try and pay off the thousands they owe to the finance companies. Generally speaking the only way out of this predicament is by using a credit card debt relief solution.

The first thing to do before opting for financial help is to stop using the card all together because if this doesn't happen it will be almost impossible to devise a debt relief plan. Making the decision can be the hardest part but no-one said credit card debt relief would be easy. The most frequent methods of debt consolidation are shown below.

Obviously, the easiest way to proceed is to apply for a credit card with a low interest rate on balance transfers where the debt can be consolidated where repayments can be made regularly within a specified budget. Alternatively a person can consolidate their debt with the help of a low interest loan and then decide how much money it will be possible to pay off each month.

This option does require a certain level of commitment on the debtor's part as once the debts are clear there must be no temptation to use them again. This option will not work if the credit standing of the debtor is poor and they are not in a financial position to pay off their debts monthly.

Failing this option then the services of a credit card debt relief company might be more suitable, negotiating a settlement with the card issuers directly. The company can negotiate with the creditors to accept some money, generally about 50 percent of the outstanding balance and then write off the rest.

The final option is bankruptcy which should not be taken lightly but if the debt is totally out of control and there is no way to escape from the debt trap then filing for bankruptcy may be the only way out. This is the last resort for a debtor because once they declare bankruptcy, their credit standing fails and it will be difficult to get further loans; however, the positive aspect of filing for bankruptcy is it enables a fresh start. Whichever credit card debt relief option you take, remember that this should only ever be a one-off as important lessons about managing finances should be learnt so the situation is not repeated.