Consumer debt is out of control, here are just a few facts for you to ponder.

• In 1999 the national consumer debt reached a record breaking 1 Trillion Dollars.
• In 1999 credit card debt was approximately 565 Billion Dollars.
• In 1999 there were more than 1.354 Million Personal Bankruptcies declared. Another record breaker.
• Last year, Americans paid out approximately 65 Billion Dollars in interest alone.
• The average balance on a credit card is $7,000.00.
• The average American family carries a $4,000.00 credit card balance from month to month.
• The average interest rate on a credit card is 18.9%.
• If you paid the minimum payments on a $8,000 balance at 18% interest for seven years, your total payout would equal $23,432, nearly 3 times the original debt!
• The average late fee is $29.00.
• The average American receives 7 "Pre-Approved" credit card solicitations per year.
• The average American family has 10 credit cards.