Why Credit Card Debt Levels Are Rising
News from San Francisco Chronicle:

The jig is up and so are American credit card debt levels. Between July to September 2012, the credit card debt per borrower was 4.9% higher than from a year earlier. Low interest rates keep consumers borrowing, which then in turn enables Americans to start carrying higher balances on their credit cards. It should be noted that this is a practice that can be very dangerous. Some professionals suggest that the increase in balances could be seasonal and be affected by common expenses such as back to school shopping and summer vacations which may lead to these higher balances. However, there may be a number of other reasons for this increase in credit card debt across the nation.

Banks Aren’t Helping
Banks and lenders have been steadily increasing the amount of credit cards they issue. In the second quarter of 2012 banks issued 3.1% more credit cards than in 2011’s second quarter, and about 25% of these issuances went to higher risk consumers with nonprime credit scores……………. continues on San Francisco Chronicle

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Whom Can I Trust to Consolidate Credit Card Debt?
News from Fox Business:

Dear Debt Adviser,

We need to consolidate our credit card debt. Do you know any trustworthy agencies that can help? Our payments are so high that we’re struggling to pay down more than the interest. What would be the smart route to take? We’re both nurses with two kids and a house for one year. Please help!


— John

Dear John, You can trust a nonprofit credit-counseling agency that is a member of either the Association of Independent Consumer Credit Counseling Agencies or the National Foundation for Credit Counseling. Both of these organizations have consumer protection standards that their member agencies must follow. When you contact an agency that belongs to one of these national organizations, you’ll speak to a certified credit counselor who will help you assess your situation. The counselor can make recommendations on how to move forward, based on your goals.

From the brief information you have included, it appears that you may solve your problem with some budgeting and negotiation tips or with a debt management plan. Here’s a quick overview of what to expect.

  • Budgeting. Because you both have well-paying jobs, this may be your best solution. Your counselor will help you prepare an in-depth spending plan. Few people can account for where all…………… continues on Fox Business

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