So where can you go to get debt help? You have many choices including credit repair companies and credit counseling services. The choice would depend on the severity of your debt, but you cannot go wrong if you just start somewhere. If your first choice cannot help you, they would point you towards someone who could help you with your debt problem.
You only need to watch for individuals and companies who would gladly take your money and not provide any service in return. These scams are prevalent on the Internet and you should check out the company or individual before you put any money down. Of course, you can seek help from one of many nonprofit firms set up to help people in debt. Look in your Yellow Pages for their telephone number and address.
You can also scan self-help guides that apply to debt management. These you can find either online, or in your local bookstore. Your local library might also have these handy guides that will help you manage your debts on your own. Self-help can also include contacting your creditors directly. This is a good way to win points with your creditors. Creditors like to hear from delinquent or near-delinquent debtors before the debt becomes unmanageable. You should not use this hoping to salvage your reputation because it would not work. You need to talk with your creditors early.
Working with a credit counseling agency is a good place to get help in the early stages of your debt problems. They can help you come up with a plan to present to your creditors. Credit counseling is not for everyone because while they can help you, you must have some way out of your debt. Their advice can help most people for the present and to avoid further debt. However, some people are beyond credit counseling. If you are one of them, you will find out quickly and given a number to call a trustee in bankruptcy. But here we are assuming you have a ray of hope and can contribute some funds to your financial rescue plan.
Your credit counselor will get you involved in a debt management program that would benefit both you and your creditors. Through this program you will list your sources of income and bills you are paying each month to all of your creditors. The goal is either to reduce your monthly payments, or the number of times you write checks to several creditors. Writing one check each month is the ideal arrangement but your situation may be different, and you can do something else. You can benefit from this program by getting current credit advice, and avoiding the unpleasant task of declaring bankruptcy.
Debt help is common and not something you should fear. We make mistakes and should correct them once we recognize them. Correcting them means taking responsibility for our situation. If you have a problem with your debt load, you should put out a call for help before it gets worse.