Those facing difficulties because of the current economic situation start thinking on debt management programs like credit card debt consolidation for getting back in control their unmanageable credit cards repayments, debt consolidation is growing in popularity every day, it seems it has just advantages but not, there still some risks associated that you need to be clear about it in order to get the most of the consolidation of your credit card debt.
Firstly, it needs to be pointed out that credit card debt consolidation is a great program, because you get all your debt consolidated into a larger loan, with a lower interest rate and "a" lower monthly payment, the repayment span is longer enough but you should be informed that the longer the span, the most you pay back.
Another really important benefit you get by consolidating your debt is that you rebuild your credit history, if you pay on time of course.
Secondly, as you probably know most of the credit card debt is unsecured, and then through credit card debit consolidation you are turning them secured, you need a guarantee that usually is your house or other valuable asset, then there is the associated risk because of the collateral that is used for guarantying your loan.
This is an important decision that you should analyze with your debt counselor thoroughly.
Last, it is not wise going with debt consolidation without analyze first other debt management programs like debt settlement, known as well as debt negotiation for example, these programs could save you thousands if you are working with a seasoned debt negotiator, specialized advise from a trusted and reliable debt management company is always highly recommendable.