Credit cards are any easy way to get what you want when you want it, even if you don't have the cash on hand. Credit card companies make their money from customers who carry balances on their credit cards by charging interest, at varying rates, as well as finance charges on top of the interest.

Debt consolidation is not the answer. Yes, life is full of surprises, but bills don't seem to care. They keep rolling in, even if you've lost your job, fallen ill, encountered unexpected household expenses or simply lived a bit above your means. Your financial crunch may be temporary, but your credit score can be enduring, and overdue bills can haunt you for years to come. Fortunately, there are positive alternatives to debt consolidation. Here's what to do it

Debt plagues millions of Americans. Just as damaging is choosing the wrong method to mangage debt you can't pay on your own. Use these steps to determine whether you should consolidate or settle your debt.