When you default on a secured debt, the creditor takes the asset that backs up that debt. When you convert credit card debt to mortgage debt, you are securing that credit card debt with your home. That's a risky proposition.

By definition, saving - for anything - requires us to not get things now so that we can get bigger ones later.

If you'd asked me a few years ago about debt settlement companies, I probably would have told you to avoid them.

You must be sure - and I mean absolutely positive - that you have the willpower to pay off those credit cards and not use them again.

If you are, consolidating at a lower interest rate can help you pay off your debt faster. But if there's even a small chance that you'll spiral back into debt, it's not for you.

You really don't need to hire a debt settlement company to negotiate with your creditors.

It's not about having it all. It's about having what you value most.