"The borrower is servant to the lender" (Proverbs 22:7).

"Credit-card debt has reached staggering levels," wrote attorney Alan Kopit about a new survey by Lawyers.com. Half (48 percent) of Americans have credit card debt, but a third of those have done nothing beyond monthly payments to reduce that debt in the last 18 months. "Even those with the most credit card debt, over $20,000, tend to feel relatively comfortable with their debt levels," Mr. Kopit said. "They seem to think the debt will 'take care of itself' in due course."

"Therein lies the problem," said U.S. News and World Report in their May 19 edition. This overly optimistic attitude keeps many from making the changes needed to get free from the trap of the high interest rate debt.

Our free booklet, Managing Your Finances, has a section on "How to pay off credit-card debt" which includes the following advice:

"Stop charging items on your credit cards... If you carry a balance and have credit cards with high interest rates, you are wise to look for a card with a lower rate and transfer your balances...

"After obtaining as favorable an interest rate as possible and eliminating costly luxuries, rank your credit cards in order of their interest rates, and use your disposable income to completely pay off the card with the highest rate. Once you pay that one off, close that account and destroy the card. Then focus your attention on the next card, and continue doing the same until you have paid off all your credit cards."

Managing Your Finances has many other helpful tips, and you can find it on-line or order a copy at www.ucg.org/booklets.