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When I got my first job, a high-paying cool job that I love not only because I enjoy my job functions but because of the many perks that come with it, I was offered a lot of consumer accounts. Credit card companies solicited through agents, not requiring me to undergo a strict application procedure, but they simply asked me to fill up the forms and in a couple of weeks’ time I already got my credit card. Since there is no limit to the number of credit cards I can own, I filled up every form, entertained every agent, and voila! Five credit cards to my name, all waiting to be used, misused, abused – the more you abuse it the better it becomes for credit card companies. I was too near (and in some, beyond) my credit limits before I finally realized I am way over my head in credit card debt.

Good thing a friend introduced to me the concept of debt consolidation, where I can take out a comprehensive loan account to pay for all my outstanding credit card debts, and pay only one account that corresponds to my debt consolidation loans. With less interest, no penalties, no past due payments and lower monthly payments, I’m slowly getting back on my feet, after having learned my credit card lesson the very hard way.