When people get into trouble with credit cards, the first thing they often think of is refinancing the debt by putting it all into a credit card debt consolidation loan. While this seems tempting (and it is advertised to be tempting), it isn’t always the best approach. Before jumping into a credit card debt consolidation loan, ask yourself some basic questions.

First, ask yourself if you can make progress paying off your debt without a credit card debt consolidation loan. The first step is to stop using your credit cards. Assuming your cards are all current, the next step is to pick out the card with the highest interest rate and pay as much over the minimum as you can until it is paid off, then proceed to do the same with the next card and the next until they are all paid off.

Say you have a department store credit card with a balance of $800 and a minimum payment of $15 a month, but after looking over your budget you can set aside an extra $85 each month by giving up eating out. Once that card balance is paid off, you close out the card, and add $100 (the amount you just finished paying on the department store card) to the monthly amount on the next card on your list.

If you are in more trouble than that, the next thing to try is negotiation with your creditor. Some creditors will shut down your card and let you pay larger monthly payments at a reduced interest rate until you are paid off. You can pay a credit card counseling service to negotiate this for you, but you can ask yourself for free.

Ask yourself if you have considered all other sources of income you can tap to pay off the cards. Do you have things around the house you don’t need? Do you have a third car you can live without? An expensive cable TV set up you could do without at least for awhile? Could you work ten extra hours a week, or get a small second job?

Why consider these measures first? Because often credit card debt consolidation loans will come with bad terms and damage your credit more than if you make an earnest effort to pay the debt back yourself. Another danger of credit card debt consolidation loans is that you will continue to use credit and end up owing the debt consolidation loan payment, and also new credit card debt. This actually happens rather often.

One of the biggest reasons to avoid credit card debt consolidation loans is that often they are secured by the equity in your home. While it may seem tempting to knock $800 in monthly credit card payments down to $200 in home equity payments, home equity lines and loans can be horrendously complex, and sadly many credit card debt consolidation loans are actually predatory mortgage lenders who don’t really want to see you succeed, they just want your money and then your house.

If you are in trouble with credit card debt, you aren’t likely to get decent terms on a credit card debt consolidation loan unless you have some decent collateral, and why risk losing any decent collateral for a debt you have likely paid many times over already anyway? Better to face the credit card debt squarely and begin to work with it, with credit card counseling if necessary, but avoid taking on an additional line of debt. Your credit will rebound much more quickly that way.

Finally, if all else seems to fail and you feel you must take out a credit card debt consolidation loan, work with a reputable lender and read everything twice and again. If you need to seek an attorney’s advice, do it. Credit card debt consolidation loans sound like a good idea because there are tons of ads that make them sound like a good idea. Just remember, financial sharks can smell blood too: don’t let yourself be victimized if you can take control instead.