How
Can You Help Yourself? (Part III of IV)
If you cannot handle your debt on your own, then you have to start looking
elsewhere. There are many agencies out there that will be able to help you
come up with a plan and a budget so that you can work on getting debt free.
Credit counseling agencies are there to help you make up a budget; work out
a repayment plan with your creditors, etc. Consider them the go between for
you and your creditors. They have experience knowing who to talk to and what
to say, so if you have the money to hire one of these go for it. However,
you must be careful for there are a lot of scam artists out there right now
posing as the real deal, and they aren’t. Be especially wary if they ask you
to pay them and they will pay your creditors because there are usually the
ones who pocket your money and don’t pay anyone but themselves.
There are also debt management plans that will help you get a handle on your
debt. These plans are the idea that you make one monthly payment and your
debt manager doles it out to all of your creditors. However, again, you must
make sure that you are with a reputable company because you don’t want
someone just taking your money.
You must make sure that they don’t charge you large up front fees to do it
either. Have anyone you are interested in send you their information for
free without you having to give them your personal financial information. If
they won’t do that then you need to run as fast as you can from them.
Next time: Debt consolidation and bankruptcy
SIGN UP
