Is now a good time to take out a personal loan for debt consolidation?

Before you start the debt consolidation process, make sure you know what you're getting into right now. /iStockphoto High credit card debt has become a defining hallmark of the current economic landscape. The total credit card debt nationwide is currently sitting at over $1.23 trillion , the latest record high, and at today's rates, the average cardholder is carrying a balance that costs them significantly more than it did just a few years ago. …