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Should You Join a Debt Reduction Support Group?

Created: On December 23, 2009 @ 5:05 pm In

Need a little help reaching your [1] debt reduction goals? Consider joining a support group to find other like-minded individuals looking for help with debt. Here are some things to consider about joining a group focused on debt reduction.

Support Group vs.  Debt Counseling

Before joining a group it’s important to determine your goals for getting help. A support group offers debt help from other individuals who are also working to improve their financial situation. Members of a support group discuss their challenges with wiping out debt, share tips and strategies, and encourage each other to make positive changes.

[2] Debt counseling involves working with an agency who can help you put together a budget, work on debt consolidation, or figure out how to negotiate a debt settlement plan. For some people working with a debt counseling agency and joining a support group can help with paying down debt.

Find the Right Debt Help

Make sure that you find a support group that can help you reach financial goals. Attend a few meetings and find out if long-time members have actually paid off any debt. You don’t want to end up in a group that is all talk and no action when it comes to debt reduction.

Support groups focused on debt are held in many communities. You can also look for online [3] debt reduction support groups. But remember, unless you’re willing to be open and honest about your spending issues you may not benefit much from joining a support group.

Article printed from DebtHelp.com Blog: http://www.debthelp.com/blog

URL to article: http://www.debthelp.com/blog/2009/12/23/should-you-join-a-debt-reduction-support-group/

URLs in this post:
[1] debt reduction : http://cgi.money.cnn.com/tools/debtplanner/debtplanner.jsp
[2] Debt counseling: http://www.benzinga.com/personal-finance/59740/credit-card-debt-counseling
[3] debt reduction: http://home.ivillage.com/homeoffice/debt/0,,14lj,00.html