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Are You Ready for Debt Counseling?

Created: On July 23, 2010 @ 2:43 pm In

Have you considered working with a [1] debt counseling firm to get your bills under control? A debt counselor can work with you to get at the root of any spending problems you have, and help you become a better manager of your money. Here are some things to look for when looking for a debt counseling firm.

  • Debt counseling only works if you are willing to change your behavior. It won’t do any good to seek debt help if you are resistant to doing the work that needs to be done. Digging out of a lot of debt won’t happen overnight, so you have to be committed sticking with the program for as long as necessary.
  • Debt counseling should be free or low-cost. Some churches or other nonprofits may offer free counseling or have sliding scale fees. But don’t let pricing or nonprofit status be your only criteria for selecting a counselor. Check out the reputation of anyone you are considering working with. Are they affiliated with a reputable membership organization such as the [2] National Foundation for Credit Counseling¬†and have accreditation?
  • Credit counseling should include help with curbing spending, budgeting, saving, in addition to paying off debt. Ask about workshops or other opportunities to learn more about managing money, such as workbooks or online tutorials.
  • Avoid agencies that pressure you to sign up for expensive debt management programs or require that you apply for a debt consolidation loan. High-pressure sales tactics could indicate a scam is brewing.

Don’t be embarrassed to get help with debt. Finding a counselor and admitting your weaknesses is better than digging a deeper debt hole that you can’t climb out of.

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URL to article: http://www.debthelp.com/blog/2010/07/23/are-you-ready-for-debt-counseling/

URLs in this post:
[1] debt counseling: http://www.debthelp.com/debt-consolidation/credit-counseling.html
[2] National Foundation for Credit Counseling: http://www.nfcc.org/CreditCounseling/counseling_guidelines.cfm