This paper uses Probit regression model for Third Undertaken National Financial Literacy survey in 2011 by Financial Supervisory Commission in Taiwan to examine the relationship between self-control, financial literacy and harmful consumer credit behavior. Lack self-control and financial illiteracy are positively associated with consumer over-indebtness and consumer cash advance. It means that people with lack self-control or financial illiteracy are more likely to suffer consumer credit problems. In most specifications we find a stronger role for lack of self-control than financial illiteracy in explaining consumer over-indebtness. Besides, physiological characteristics, like gender, marriage status, education level, family origin and household income, are also key factors affecting the chance to suffer consumer credit problems. Finally, our results are robustness to the potentially endogeneity and selection bias issue.