If you are overwhelmed with large amounts of credit card debt and you are having trouble making your minimum payments each month, you probably are also experiencing the frustration of frequent letters and phone calls from your creditors.

Most likely you are becoming desperate to find a way to solve your debt problems. You may find yourself considering all kinds of possible ways out from under your debt, some more rational than others.

However, I would like to counsel you that it is NEVER a good idea to pay off debt by accumulating more debt. NEVER, EVER, attempt to obtain a personal loan from any financial institution to use to pay credit card debt.

First of all, if you have a large amount of outstanding credit card debt, it is highly unlikely that reputable financial institution would be willing to approve you for a personal loan. Furthermore, even if you do manage to get a personal loan approved, it is still not a wise course of action.

Take a moment to think about this. If you are currently not able to make your payments on your credit cards, it is very likely that at some point you will also be in danger of default on your personal loan.

So, do you have any alternatives? As a matter of fact, you do. The simplest and most direct method to relieve your burden and help you pay credit card debt is to negotiate directly with your bank. It is very possible that they can reduce your interest rate or give you a bit of flexibility on your minimum payment, and this may be enough to offer you a bit of financial breathing space.

You really have nothing to lose. Contact your creditors today and see if they are willing to offer you any relief. Particularly in today’s economy, many financial institutions would rather accept a modified payment plan that to have you completely default on your debts or declare bankruptcy.

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