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Credit Counseling:Taking a Step Toward Serenity

Created: On July 28, 2009 @ 7:05 pm In

Financial expert Jean Chatzky notes that struggling with debt robs you of more than your paycheck. Physical and emotional health problems related to stress can contribute to strained relationships and other problems at home and work. Doing nothing is the worst course you can take, as stress will mountĀ as creditors become more insistent in their efforts to collect what they’re owed.

Credit Card Debt: Getting Debt Help

Chatzky recommends compiling a list of your bills including how much you owe, minimum monthly payments and each creditor’s contact infomation. Next, you’ll need to determine monthly income from all sources, and deduct all monthly expenses from this amount. What’s left is what you can pay your creditors. If you find you don’t have enough to pay creditors, it’s time to trim your expenditures by reviewing your budget and determining where you can cut back.

Credit Counseling Services Provide Assistance

Credit counseling servicesĀ can typically assist customers with reducing interest rates and fees, and can establish a repayment agreement with all of your creditors provied your debt can be repaid in five years or less.

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