Dealing with Debt

The Remarkable Benefits of Credit and Bankruptcy Counseling

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You’re in debt. Like many other people, you may not be exactly sure how you got here. Maybe you are a recent college graduate with an ample amount of student loans. Or maybe you’re a single parent who has just been laid off due to the difficult economic times and is having trouble making your mortgage payments. Maybe your frivolous credit card spending habits are beginning to catch up with you. Whatever the reason, having a debt monkey on your back can wreak havoc on your social life, health, stress levels, and your happiness. However, enlisting the help of a credit counseling company and following a personal budget and a few guidelines can help you eliminate your debt forever.

Here are some rules or guidelines that you should begin following right now:

  • Don’t spend more than you have – Work out a personal budget for yourself. Add up your monthly expenditures and total up the necessary expenses you must pay for things like health insurance, car payments, rent, mortgage, and food costs. Once you have this amount, make sure that it does not exceed your monthly income. If it does, look for places where you can cut costs. Can you trade your car in for an older, cheaper model that will give you a lower insurance rate and better gas mileage? Can you stop buying processed snacks for your family, start using coupons, or grow your own produce? These methods may seem inconvenient at first, but they will help you save money and help you get rid of that debt.
  • Pay the high-interest loans first – Mortgage payments and student loans generally have the lowest interest rates. Pay the minimum on these types of loans and then tackle your high-interest credit card payments first. Put more money towards these so you can pay them off faster.
  • Write down everyday expenses – Record every purchase you make. From a daily $4 cup of coffee to filling your car’s gas tank, these small costs can add up. Of course, some expenses are necessary. But many are not. Spending $12-$15 on your lunch break during the work week can add up to $240 a month if you eat out every day. You can easily identify unnecessary costs by keeping track of everyday expenses.
  • Set small goals for yourself – You didn’t get into debt overnight, nor will you get rid of your debt monkey quickly and easily. Take your time, don’t become impatient and set small, specific goals for yourself. Aim to pay $50 over your minimum credit card payment every month or sacrifice dinner at a nice restaurant once per week and save $40-$50. Every little bit helps!

There are a lot of consumers out there who are facing credit and bankruptcy issues. Many of these individuals have become discouraged and disgruntled about their current financial status and their inability to secure loans or pay down debt. Bad credit and debt can really have a terrible effect on consumers, but there is still hope. Consumers that want to improve their financial picture can seek out free credit counseling from the right non-profit credit counseling agencies.

Credit Counseling Services –

Credit counseling services help clients understand that there may be other options out there for them, instead of filing for bankruptcy. Free credit counseling can be a great help to people who are struggling with debt and with paying their bills each month. Many consumers that have debt or bad credit have a difficult time making the transition back to being debt-free. Credit counseling could help you get on the path toward financial freedom.

Sometimes people may have good intentions, but they may not know exactly what they need to do in order to get out of debt. A certified credit counselor can help consumers who want to set up lower monthly payments and provide them with better suggestions for long-term planning.

There are credit card companies that provide people with suggestions and resources on finding the right non-profit credit counseling agency for them. There are some consumers that need more help on how they should manage their money and for those people creating a spending budget is essential. Credit counseling agencies can even help with the consolidation of unsecured debt and most medical bills.

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All of this gives clients a higher degree of knowledge and understanding. This ability to acquire more information leads to better decisions being made in the future. Better decisions about money management will obviously lead to fewer bankruptcy filings and less chance of getting into debt again.

It’s not about HOW much money you make, it’s about what you DO with the money you make. It will take some time and some budget practicing to bring consumers into the light. People have to be informed about the best decisions possible and strive to make them. They have to know all of the options that are available to them in order to make better choices and that’s exactly what free credit counseling offers.

Credit counseling isn’t just for people that have bad credit scores or a ton of unsecured credit card debt. It is also an option for young adults who have little to no experience with credit cards and money management. These people need to get informed before they approach the real world of debts, loans, and credit cards. People who are about to branch out on their own would truly benefit from a free credit counseling session.

Bankruptcy Counseling Services –

Bankruptcy counseling services can help people understand the bankruptcy laws and procedures. These counseling services can be valuable for people that want to get out of these predicaments. Lots of people that have to file bankruptcy do not fully understand the process. Some of these people may not know what they can do to improve their credit without these services. It’s also required by law to obtain a pre-filing bankruptcy counseling certificate from an accredited Non-profit credit counseling agency. Advantage CCS is an accredited non-profit agency that can provide these bankruptcy certificates.

Conclusion –

Getting out of debt isn’t easy! Employing a few smart, money-saving strategies, and obtaining credit counseling as the first step can help you get rid of your debt monkey. Speak with a certified credit counselor today and find out if credit counseling is right for you. Bankruptcy counseling can also help if you choose to file for bankruptcy, but you won’t know what the best option is unless you speak with a counselor first. Give us a call toll-free at 1-866-699-2227 or visit us online at https://www.advantageccs.org

Author: Lauralynn Mangis
Lauralynn is the Online Marketing Specialist for AdvantageCCS. She is married and has two young daughters. She enjoys writing, reading, hiking, cooking, video games, sewing, and gardening. Lauralynn has a degree in Multimedia Technologies from Pittsburgh Technical College.