Should I look into Debt consolidation with my credit card debt being $6000 or should I work something out?

I'll not repeat what everyone else said but add more food for thought. Debt consolidation/credit counseling/whatever the catch phrase of the day is, can damage your credit. It's often interpreted as you not being able to manage your bills on your own and it negatively affects your abiliy to borrow later.

Work out a monthly budget which lists all your income and outgoings, so that you know where the money is going. You can then work out how to pay off the credit card debt. In the meantime, stop using the credit card.

It depends on your credit rating and income. Honestly, $6,000 is not that much in cc debt. If your credit score is decent, you might be able to transfer that debt to a lower interest rate card. Have you tried putting together a monthly budget? You might be surprised to see how much you spend in a month and there may be some cost savings there that could do towards paying the card off. If you are considering a debt relief company to assist you, make sure you only work with non-profit debt relief companies. Either way, these companies will charge you a fee, but the non-profit companies charge a much less than for profit companies. I once had over $24,000 in cc debt from starting a business that never got off the ground. I worked it out myself, over a few years, and now am debt free. It can be done. I would try it on your own first before seeking counseling. However, either way, there is a light at the end of the tunnel so hang in there.

start a written budget every month. You will feel like you got a raise. I started one about 6 months ago and i found money to put towards my cc debt and i will be done next month paying off almost 20k. If you do a written budget you can see exactly where the money goes. You can tell your money what to do. But, you have to stick to it. Maybe even get another job for a few months. oh yea cut up the cards. check out daveramsey.com and listen to his radio show or find a station near you to listen to. He has lots of GOOD advice on money and debt.

Get on a written budget and work it out yourself. Six thousand is doable. Do not go with debt consolidation. Myth: Debt consolidation saves interest, and you have one smaller payment. Truth: Debt consolidation is dangerous because you treat only the symptom. Debt consolidation is nothing more than a "con" because you think you've done something about the debt problem. The debt is still there, as are the habits that caused it - you just moved it! You can't borrow your way out of debt. You can't get out of a hole by digging out the bottom. True debt help is not quick or easy. Larry Burkett, noted financial author, says debt is not the problem; it is the symptom. I feel debt is the symptom of overspending and undersaving. Our certified counselors will not recommend debt consolidation for a client. Why? Because debt consolidation doesn't work. Debt Consolidation Statistics A friend of mine works for a debt consolidation firm whose internal statistics estimate that 78% of the time, after someone consolidates his credit card debt, the debt grows back. Why? He still doesn't have a game plan to either pay cash or not buy at all. He also hasn't saved for "unexpected events" which will also become debt. Debt consolidation seems appealing because there is a lower interest rate on some of the debt and a lower payment. However, in almost every case we review, we find that the lower payment exists not because the rate is actually lower but because the term is extended. If you stay in debt longer, you get a lower payment, BUT if you stay in debt longer, you pay the lender more, which is why they are in the debt consolidation business.

That depends on the interest that you are paying. If the lending company can give you a lower rate than the card, then get a consoldiation loan. Generally, a $1000 credit card will take twice the time to pay off as a loan, so keep that in mind... But, that being said, if you can make bigger payments, considering it's only one debt, I would do that...just pay it down as quickly as you can, and lower the limit as you go so you can't rack it back up.

why not get a 12 months interest free credit card and transfer your debt into it? Then pay off your $6000 as quick as you can.

Well that depends on how much money you make.. doesnt it? Also depends on what kinds of monthly expenses you have.To some people 6k in debt is nothing, and to others it is all the money in the world. I heard a financial expert say that when your total debt becomes 2/3rds of your yearly income you are to the point where you should seek debt help. And when it reaches your yearly income you may consider bankruptcy. So base that off of how much money you are making. Normally i would think 6k is "manageable" debt for most people.

Combination of various high interest loans into a single one, it is called debt consolidation. The aim behind debt consolidation is to reduce the payments or the interest rate. Opt for a debt consolidation loan: The easiest method of getting a debt consolidation loan is to utilize the equity of your home. Equity of your home is calculated and determined by the difference in the amount you have paid and the amount you owe. If the amount you have paid is more than the amount due, you can use it as collateral. This allows you to borrow money on lower interest rates. Besides, you also get tax benefit on this type of loan. Consult your tax advisor before opting for this loan.