A friend of mine had 5 credit cards, which made her debt payed for the rest of her life, okay, a bit of exaggeration there. The need for credit counseling and debt counseling seems to be at an all time high. Credit counseling is especially warranted when terms for large financing, such as for an auto loan or mortgages are typically confusing. (Some believe this to be purposeful.) The NFCC or National Foundation of Credit Counselors found that a surprisingly large amount of their clients knew very little about the terms of their car and home loans. It's been argued that terms and conditions of loans are often made byzantine purposefully, to obscure them from the consumer, but that aside, it is definitely clear that some credit counseling, credit repair, and a rise in financial literacy is something we all could use.