Article Side

Online Article Directory!

Hello Guest! Login or Register to submit articles!

Digging Yourself out of Debt with Credit Counseling

By William Hauselberg Subscribe to RSS | February 16th 2012 | Views:
loading
 
  



Excessive credit card debt can be a frustrating, frightening experience. As debts continue to pile up and interest rates continue to rise, you can soon find yourself paying only the interest on your cards each month while your balance remains the same. People in this situation often feel like a hamster in a wheel, going nowhere fast. However, there is hope and help available to help dig yourself out of debt and regain financial freedom.

Face Your Debt Head-On

One of the first steps toward getting yourself out of debt is to gain an understanding an awareness of your financial situation. All too often, when people are faced with mountains of credit card debt, the fear that comes along with it causes them to want to ignore the situation instead of tackling it. But the combination of missed payments and continued poor spending habits can, and will, prove to be disastrous.

Trained, professional counselors at a non-profit credit counseling agency can help assess your situation to come up with a plan that is appropriate for you and your specific financial needs. Together, you will compare your monthly income to your average monthly expenses. Ideally, income will outweigh expenditures, but individuals seeking credit counseling will likely be experiencing shortfalls. In this case, you and your credit counselor will look at where potential cuts can be made in your monthly spending in order to apply more money toward paying down your debts.

Debt Management Programs

Though many people are successful at digging themselves out of debt by setting and maintaining a monthly budget, some people may need to go a step further and take part in a debt management process. Through a debt management program, non-profit credit counselors negotiate with your creditors on your behalf to lower interest rates and even minimum monthly payments. And rather than trying to juggle multiple payments to multiple creditors, all of your payments are consolidated into one manageable monthly payment. The payment is made to your non-profit credit counseling agency, which then disperses payments amongst your creditors.

When selecting a credit counseling agency, be sure to choose a non-profit agency versus one that is for-profit. Although the services at a for-profit agency may seem appealing at first look, remember that their ultimate goal is to make money off of the hardship of others, and you will end up with even more expenses than you started with. A non-profit agency’s goal is to counsel, not to sell, and you and your needs are their top priority.

William Hauselberg - About Author:
The author has an immense knowledge on credit counseling. Know more about debt management program related info in his website.

Share on Facebook Tweet It Stumbleupon this post This post is delicious !

Article Source:
http://www.articleside.com/finance-articles/digging-yourself-out-of-debt-with-credit-counseling.htm

Related Finance Articles Subscribe to RSS

Bad credit loans no fees: Shake Hands with Cash Crunches with Smile
Published by Cameron White on December 13th 2011 | Finance
Bad credit loans no fees are always ready to shake hands with poor creditors to let them feel comfor...
 
No Credit Check Loans- Fast Cash Without No credit Checks
Published by Jason Welsh on March 29th 2012 | Finance
If you are looking for a hassle free and easy process to get immediate cash help, then you need look...
 
No credit search loans - Get Funds Without Verification Process 
Published by Alice Johnsonn on January 12th 2012 | Finance
No credit search loans don’t account your credit history and helps you to avail cash support in qu...
 
Signature loans no credit check- Get fund with a simple signature!
Published by John Simen on April 9th 2012 | Finance
With the aid of signature loans no credit check, you can avail funds up to $15000 with your signatur...
 
Primary reasons to get a credit card processor online
Published by Neal on February 9th 2012 | Finance
There are countless advantages of having a merchant account or payment processor beside you. In this...
 
What to consider when applying for a credit card online
Published by Fiona Roy on April 23rd 2012 | Finance
Discover which type of credit card is right for you....
 
With online research you can loan about car loan with bad credit
Published by Pamela Andersen on May 16th 2012 | Finance
The online auto financing is easy way of saving time and money as well as not compromising on the ra...
 
Free credit score report: why to get one
Published by Brigham Brock on May 29th 2012 | Finance
It is essential to begin creating a credit status as early as possible. You can start to create one ...
 
Prepaid card-The credit solution
Published by Anni on March 2nd 2012 | Finance
A prepaid card is some card that you place your own cash into ahead of era so you can employ that ca...
 
Welcome Finance Loans- Unsecured credit for helpful Roadmap
Published by Mark Fulton on January 26th 2012 | Finance
Welcome finance loans explicit information about finding it out may not be simple but we have gather...
 
Understanding Christian and credit card debt settlement organizations
Published by Julia Roger on December 14th 2011 | Finance
With increasing debts among the majority of the population, people have started to seek professional...
 
If you accept Visa and MasterCard you can get Bad credit small business loans
Published by Joseph Richard on April 4th 2012 | Finance
Despite it being a popular means of finance, there are several business operators who are unsure of ...
 
What's the difference between the purchase, balance transfer, and cash withdrawal rates on credit cards?
Published by Jesse Wallace on July 11th 2012 | Finance
Understanding the various rates offered by your credit card could help you get the most from your pu...
 
How can i get dependable credit card debt advice and exactly how could it benefit me?
Published by on March 27th 2012 | Finance
Credit card debt advice is a program provided by debt companies to help those people who are battlin...
 
Why hire a credit card debt management company?
Published by Yossi A on January 12th 2012 | Finance
As a matter of fact, it not only clears your already existing debt but also offer valuable technique...
 
Finance for worst credit sanctioned within a day of filling
Published by Ross Sorin on March 2nd 2012 | Finance
Online financial aid is available for bad creditors through which they can get easy cash without fac...
 
Student loan default might cause bad credit record
Published by Peter Paul on December 22nd 2011 | Finance
Student loan default is a very common problem that is seen globally. Student loans in default should...
 
Bad Credit Secured Loan: Huge financial support in spite of bad credit
Published by Ian Foster on February 2nd 2012 | Finance
Bad credit secured loan has introduce by the economics establishment to continue the people whose cr...
 
Free credit report no fee: know your financial standing
Published by Alice Marlen on May 25th 2012 | Finance
When you request for an extension of credit, loan or credit card, the promising credit grantor will ...
 
Merchant Account processing type Merchant debit and Merchant credit card processing
Published by Eric Hannelius on January 18th 2012 | Finance
When you are doing the business your main focus is onto customers’ service provided to them so tha...