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.
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Billed as The True Debt Advisor
(http://www.TrueDebtAdvisor.com), Jim Vrana's mission is to
educate and empower people to overcome their financial
challenges. The time-tested legal procedures used to
eliminate credit card debt have been used by thousands of
people with tremendous success.
Contact:
Jim Vrana
(800) 637-1785
http://www.TrueDebtAdvisor.com
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