Credit Counseling Can Relieve the Stress of Debt
Could you be a candidate for free credit counseling? Ask yourself these questions: Do you feel like you need a vacation when you sit down to do your bills every month? After you have paid your monthly bills do you avoid buying anything for two weeks so you don’t overdraw your account? Do you get anxious whenever you come home and see a full mailbox?
If you answered “Yes” to any of these, free credit counseling may be just what you need. Credit counseling can help you get out of debt now before it gets any deeper.
Face it, not many of us have Donald Trump’s savvy when it comes to finances. It’s also a safe bet that not many of us listened to our Depression-era grandparents going on and on about not buying anything on credit. It’s getting to the point where people are again starting to repeat that message to their kids.
Credit card debt is crippling thousands of families across America. From California to New York, we live in a nation that’s drowning in debt. Credit cards are often easy to get, easy to whip out of our wallets, and easy to lose track of just how often we are using them. What is not easy is making a dent in the rising monthly balances. This is where free credit counseling comes to the rescue and could solve your debt problems.
Let’s see who could possibility be a good candidate for free credit counseling:
Opening multiple lines of credit –
If you end up opening several new credit cards or ask your current lenders to increase your credit limit, then that’s a good sign that you are living past your income level. If you are living beyond your means, you will find it extremely difficult to get out of debt. Try not to fall into the trap of reaching out for more credit when it’s clear you can’t successfully handle the credit you already have. Don’t worry about the future until you’ve figured out a way to handle the present situation. Credit counseling can help you set up a budget and find ways to make cutbacks to free up some money in order to pay off your debt.
If you’re carrying the same debt for years –
Let’s be truthful here. Almost everyone carries a credit card balance for a few months. That is completely understandable. People use credit cards for everyday purchases such as gas, groceries, entertainment, lunch, etc. However, if you end up paying on the same debt for quite a long time rather than just a couple of months, that’s a good indication that you have a budgetary fiasco on your hands. When you agree to a Debt Management Plan, you stop using your credit cards altogether so you can dispose of your old debt obligations as quickly as possible.
Zero savings to your name –
On the off chance that you see your investments dwindling while your liabilities keep getting larger, make a move to stop this as quickly as possible. This is also a sign that things are not headed in the right direction. You could find yourself in serious debt before you realize it. Individuals who save money every month frequently free up enough cash to begin developing their investments once more and save themselves from drowning in debt. It’s the individuals who don’t have any savings to their name or those who don’t see the importance of having a savings account that will find it hard to get out of a situation such as this.
Way behind on your bills –
In the event that you can’t pay your bills on-time each month, this is yet another sign that you are monetarily overextended and living beyond your means. Perhaps you have a few late charges and penalties assessed to your accounts? This will make getting out of debt even more difficult for you. The good news is that a certified credit counselor can speak with your creditors and try to come to an agreement where those fees and charges are waived, if you sign up for a Debt Management Plan (DMP) and meet your obligations to the creditors every month. Most lenders will agree to certain concessions such as lower interest rates, waiving of fees and penalties, shorter payoff time, etc. if you are enrolled in a DMP.
Credit counseling is professional help for those who feel they have lost the ability to stay afloat amidst a sea of monthly statements. Certified credit counselors are available to help you out and show you the full picture of your finances. They do this first by examining your finances and spending habits. After that, they will have an understanding of your current financial situation. If it’s appropriate, they can set up a Debt Management Plan that’s structured specifically for you. Many times this involves figuring out which areas you need to spend less money on, and which areas you need to save up money for future expenses. Their job is to make sense out of what seems to be a hopeless mess and find a reasonable way to deal with it.
Credit counseling won’t make your debt disappear overnight. But, with credit counseling you could soon be making strides that will carry you toward financial freedom in as little as 3-5 years. The first step has to come from you. Pick up the phone and seek credit counseling today or contact us online to have a certified credit counselor give you a call!