We're not going to mince words here: Americans are drowning in debt. As a nation, we owe nearly $700 billion in credit cards and carry a whopping average balance of more than $9000 each and every month!

If you fall into this category and are truly struggling to make those minimum payments (IF you can even do that), then debt consolidation may be a good option for you.

Debt consolidation can be a critical step toward taking control of your finances. However, BEFORE you make that decision, there are a few very important things to consider. Read on...

Next: #1: What is Debt consolidation?