You have found yourself drowning in debt. Credit card debt mainly. It may or may not be comforting to know that you are not alone. Credit cards are too easy to obtain and use. Combine this with our "buy it now and pay for it later" society and you have a recipe for financial disaster.
When you don't know how to use credit wisely, you can quickly find yourself in a financial hole. A hole that is very difficult to climb out of. Like over-eating, excessive drinking or gambling, over-shopping can be hard to stop. Especially when it is so easy to have everything you want. Just swipe that plastic card at the checkout counter, and bring it all on home.
The need for Credit Counseling is similar to counseling needs for other addictions. You first must realize that you have a problem, and be willing to look for help.
Then do some research to find the counselor that is right for you. Some are non-profit, some are for-profit. Some are government approved, some are not. You can find them on the internet or your local yellow pages. A good place to start could be your local clerk of courts. They may have a division for bankruptcy cases which would have a list of counselors.
A good counselor may educate you on how to wisely use credit, and help you set a budget for yourself so that you do not outspend your income. But what about the debt burden you already have? If your current credit card debt is at least 75% of your annual salary, you will probably never ever be able to pay that off. No matter how good your counselor is.
The credit card companies help to ensure that you cannot pay off your debt by raising your interest rates to excessive amounts. Congress has discussed passing laws to keep credit card interest rates fixed for previously purchased items. But don't expect that to actually happen. It just makes for good PR for your local congressman.
You must also find a way to eliminate the debt you have. A good debt elimination program will allow you to legally discharge 100% of your credit card debt, without bankruptcy, consolidation, or refinancing. This can be a one-time fresh start on your financial future.
Debt elimination may not be for you. Other solutions may include debt settlement, consolidation, or refinancing your home. Once you have identified that you need a solution, then you need to find a program you are most comfortable with.
Credit counseling may help you learn to live within your means now, but will not help you eliminate the burden you have already taken on. You may combine both counseling and an elimination program to truly get your financial life back on track.
Like the alcoholic, drug addict, or compulsive gambler, nothing will improve your financial situation until you understand that you need help, and you take action to obtain that help. Just stopping the use of your cards is a good start. But the interest will keep building. So every day you wait is another day deeper in debt.
Related Articles
Regulations on Credit Card Advertisements are Needed to Help Eliminate Debt
By: Jim Vrana | 20/05/2008 | Debt Consolidation
Credit card advertisements are sending the wrong message to the American consumer. Like tobacco and alcohol advertisements, standards of disclaimers for credit card advertisements must be enacted to help relieve the American debt burden.
Consumers are Eliminating Debt Caused by Rising Food Prices
By: Jim Vrana | 29/05/2008 | Debt Consolidation
Food prices continue to surge upward, reducing the consumer's ability to pay down their credit card balances. Many Americans are resolving the extra strain on their wallets by learning how to legally eliminate 100% of their debt without bankruptcy, consolidation, or refinancing.
Debt Elimination or Debt Management. Which is the Right Choice for You
By: Jim Vrana | 10/06/2008 | Debt Consolidation
For people carrying too much credit card debt, choosing the correct debt relief program can be a confusing and stressful experience. There are many factors which are involved in this personal decision.
Avoid Being a Deadbeat by Eliminating Your Debt
By: Jim Vrana | 12/05/2008 | Debt Consolidation
The term “Deadbeat” usually is reserved for somebody who does not fulfill their financial obligation. It may surprise you however to learn just who the credit card companies refer to as “Deadbeats”.
Eliminate Debt and Spring Into a New Debt-free Life
By: Jim Vrana | 02/04/2008 | Debt Consolidation
Spring has arrived. The time of year for rejuvenation on all aspects of your life, including your financial situation. What if you could breathe new life into your finances by starting over, and becoming debt free by next spring?
How to Eliminate Debt by Eliminating Your Debt Mindset
By: Jim Vrana | 04/04/2008 | Debt Consolidation
Spring is here! A time of re-birth. A time for change on all aspects of your life, including your financial situation. What if you could renew your finances changing how you think about credit cards? By changing your mindset on how you spend your money, you could drastically reduce your debt load.
Stop Robbing Peter to Pay Paul. Eliminate Debt Once and for All
By: Jim Vrana | 07/04/2008 | Debt Consolidation
Prior to the current credit crunch, obtaining credit cards was too easy. Many card offers were hard to resist, causing our wallets to be overfilled with plastic. Some people who fell on some hard times began a juggling act with all their cards, using the credit on one to make a payment on another. After realizing that this process cannot continue, many consumers are resolving this dilemma by learning how to legally eliminate 100% of their credit card debt.
Combine Credit Counseling With Debt Elimination for a Fresh Financial Beginning
By: Jim Vrana | 04/06/2008 | Finance
Utilizing a debt elimination program will relieve you of your debt burden. Credit counseling may then be obtained to help ensure that this burden will not return.
Got a Question? Ask.
Ask the community a question about this article:
Frequently Asked Questions
Venture captial agreement
By: steve | 10-07-2008
looking for a contract format for drafting agreement with an investor to fiance growth
Suppose you have debt can the person you owe money ...
By: Cathey | 10-07-2008
Suppose you have debt can the person you owe money too attack a joint checking account if that is all the money that goes in the account is from socail security?
FHA income limitations
By: David Reed | 10-07-2008
What is the maximum I can make in order to qualify for an FHA loan?
100% mortgage financing Queen Creek AZ
By: pjohnson | 10-07-2008
I have a fabulous mortgage program available for homebuyers in the Queen Creek Arizona area --- any ideas of how to market this program?True 100% financing with no mortgage insurance
Debt settlement
By: Dorothy | 10-07-2008
should i negotiate with credit card co. or use a debt settlement co.
Compensation or Trickery via Claims Inflation
By: Dee | 09-07-2008
Help.....I recently submitted a small claim to my homeowners insurance via a public adjustor at the reccommendation of a trusted friend....I recieved my payout amounts from the adjustor which incl. a 20% charrge to him,a 756.00 depreciation value for carpet replacement, and a 500.00 ded./ Does the ins. company award the tot. claim amt. minus the deductible or vice versa.....Basically when i questioned this, I informed the adjustor i felt as if I was paying my 500 ded. 2x's. Am I being paranoid or shafted.....What can I do.....Should I request the Exp. of Benefits for my claim from the ins. co...I need to know......The numbers do not add up....regardless of where they are strategically placed.....(Things that make you go hmmm).
Q&A Powered by:
Latest Debt Consolidation Articles
Discover How to Consolidate Bills Quickly and Effectively
By: Abhinav Sidana | 19/07/2008
People say that bills are part of almost everyone’s life. That’s true. No matter how rich or famous you are, you will still be compelled to pay your bills. Sometimes, the richer you are, the bigger your bills are. But even if everybody is as indebted as you are, it does not mean that it’s all right to feel suffocated as your payables pile higher and higher.
Debtors are a Risk for Business
By: gcs-group | 17/07/2008
Any business that wants to expand will find itself having to offer credit to its customers either private or corporate.As with all risks this risk of having debtors not pay their accounts can be managed and the Risk Manager’s of this risk are Credit Managers and / or Credit Staff and Debt Collectors.
Christian Debt Consolidation: an Ethical Way to Reduce the Debts
By: Tom Frederick | 17/07/2008
Ensure a divine life for yourself with Christian debt consolidation loan package.
Debt Consolidation Agents Need to be Supervised
By: Melissa Kellett | 16/07/2008
Debt consolidation is a complex process and the aid of professionals is almost always needed. However, it is smart not to confide too much on the consolidation agents and keep an eye on whatever they do with your debt. A proper supervision of their work can save you a lot of trouble and probably money too.
Common Mistakes When Hiring Debt Services
By: Melissa Kellett | 16/07/2008
Most people who need to resort to some kind of debt relief aid, lack the information necessary to make conscious decisions. This eventually leads them to making serious mistakes when choosing debt services and sometimes their situation worsens due to these mistakes. If you debt has gone out of hands and you need aid in solving your problems read on. Here you will find the basics to avoid these common mistakes.
California Debt Management
By: Ronnica Rothe | 16/07/2008
The state of California allows for debt management to be done both by for-profit and nonprofit companies. This allows Californians to have access to a wide range of credit counselors. Wisdom will need to be exercised to avoid falling into the hands of someone who does not have your interest at heart.
Ways to Negotiate Debt Settlement
By: Christina Costa | 16/07/2008
Are you looking for ways to get out of debt? Not sure where to start? There are many possible ways to negotiate debt settlement. What is important to remember, is that each person and their debt is different. Make sure you do what is best for you!
Tips For Getting Out of Debt
By: Christina Costa | 16/07/2008
Many people find themselves in debt, yet very few know how to get out of it. Whether you decide to do it on your own or turn to a debt settlement company, there are a few things you must think about first!
More from Jim Vrana
How to Choose Between Debt Management and Debt Elimination
By: Jim Vrana | 13/06/2008 | Credit
For people carrying too much credit card debt, choosing the correct debt relief program can be a confusing and stressful experience. There are many factors which are involved in this personal decision.
Debt Elimination or Debt Management. Which is the Right Choice for You
By: Jim Vrana | 10/06/2008 | Debt Consolidation
For people carrying too much credit card debt, choosing the correct debt relief program can be a confusing and stressful experience. There are many factors which are involved in this personal decision.
With Rising Food Prices Adding To Credit Card Balances, Consumers Are Legally Eliminating Debt
By: Jim Vrana | 05/06/2008 | Credit
Food prices continue to surge upward, reducing the consumer's ability to pay down their credit card balances. Many Americans are resolving the extra strain on their wallets by learning how to legally eliminate 100% of their debt without bankruptcy, consolidation, or refinancing.
Combine Credit Counseling With Debt Elimination for a Fresh Financial Beginning
By: Jim Vrana | 04/06/2008 | Finance
Utilizing a debt elimination program will relieve you of your debt burden. Credit counseling may then be obtained to help ensure that this burden will not return.
Consumers are Eliminating Debt Caused by Rising Food Prices
By: Jim Vrana | 29/05/2008 | Debt Consolidation
Food prices continue to surge upward, reducing the consumer's ability to pay down their credit card balances. Many Americans are resolving the extra strain on their wallets by learning how to legally eliminate 100% of their debt without bankruptcy, consolidation, or refinancing.
Regulations on Credit Card Advertisements are Needed to Help Eliminate Debt
By: Jim Vrana | 20/05/2008 | Debt Consolidation
Credit card advertisements are sending the wrong message to the American consumer. Like tobacco and alcohol advertisements, standards of disclaimers for credit card advertisements must be enacted to help relieve the American debt burden.
Avoid Being a Deadbeat by Eliminating Your Debt
By: Jim Vrana | 12/05/2008 | Debt Consolidation
The term “Deadbeat” usually is reserved for somebody who does not fulfill their financial obligation. It may surprise you however to learn just who the credit card companies refer to as “Deadbeats”.
Stop Robbing Peter to Pay Paul. Eliminate Debt Once and for All
By: Jim Vrana | 07/04/2008 | Debt Consolidation
Prior to the current credit crunch, obtaining credit cards was too easy. Many card offers were hard to resist, causing our wallets to be overfilled with plastic. Some people who fell on some hard times began a juggling act with all their cards, using the credit on one to make a payment on another. After realizing that this process cannot continue, many consumers are resolving this dilemma by learning how to legally eliminate 100% of their credit card debt.
Finance 
