Using the credit allowed by credit card companies as if we were at the roulette wheel is more dangerous than playing the stock market with out any prior information of the stock we are about to place our hard earned money into.

Credit card debt is the single worst investment when used unwisely, it is one of the bigger reasons for divorces, suicides, etc.. We must become informed before using our credit unwisely, for example if we are buying stock with a particular company we research every angle imaginable before we risk our money. The same must also be taken into consideration when determining how to use the credit extended to us. Bad investments bring about bad results, so does the uncontrolled and irresponsible use of credit cards.

In America today we are seeing more and more foreclosures on homes than we have seen in any other era besides the depression era, mostly due to the failing home industry. This phenomenon along with our bad spending habits, our taking credit to the limit with out thinking of the risks involved is leading many of us to the edge of financial disaster. Responsible credit management as responsible investing is something we all need to exercise if we want to keep our heads above water in these troubled financial times.

The outcome of our bad choices as I mentioned before can lead many of us to lose the roof from over our heads, our families and even our own lives. If the situation is such where we are close to hitting rock bottom we must seek help. Everything we have worked so hard to achieve cannot be lost simply because we have made some bad decisions or lady luck has not been on our side. Nothing can be used as an excuse simply because we are the captains of our own ships.

Luckily enough in America there are laws or mechanisms that will allow us to find help to alleviate the burden of debt. The new bankruptcy laws in effect today stipulate everyone must comply with a debt relief program before qualifying for either chapter 7 or chapter 13. This is great news, as consolidating or negotiating settlements on our accounts will help us avoid the stigma of having filed for bankruptcy and help us save a percentage of the monies owed in the process. Everything is not as bleak as we may think it is, there is always light at the end of the tunnel and in the case of debt we must seek the help needed to alleviate it. We must look for this help wisely as we would if we were to invest our hard earned money or the next time we think about using our credit cards, we must remember to use them responsibly.