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Home Debt Consolidation I tried credit counseling, and I got myself back into debt. I really need some good advice, can you help?
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I tried credit counseling, and I got myself back into debt. I really need some good advice, can you help?

Well don’t be too hard on yourself, did you know that 70% of all Houstonians that get into a credit counseling get themselves back into debt within two years?  That’s right that is a lot of people.  The sad thing is if you would of know that before you got involved in it the first time you would of never joined and you would of saved yourself a lot of money.  Credit counseling leads to people being back in debt because you never took full responsibility for it.  Letting someone else just do all the work for you will really take you out of the equation emotionally.  They tell you everything you need to do and you do it, but when the program is over and no one tells you what to do the problem keep on going.  You have to take ownership for your credit card debt yourself.  You have to get emotionally involved.  Believe it or not, getting out of debt is not easy just like any other bad habit, but it is achievable and can be done.

You really need to start the process over again, this time just not with a company do it yourself as far as figuring gout your debts and income.  But also first take some time and call your creditors so that you know all the facts about each of your debts, like balances, interest rates, and minimum PAYMENT AMOUNTS.  Run a credit report and check it out and see if there is anything you missed on there or that may not belong.  You do not have to be with a credit counseling program to work with your lenders.  They may have told you that but most lenders just want you to pay, so if there is ways they can make it make sense to them they will do it.  Remember they do not want you to bankrupt it because then they will get nothing.  But you need to know your whole story before you call them, you can get them to reduce the interest rates or lower the monthly payments.  Sometimes they will even accept debt settlement offers for the payoff of the whole amount.  You have options, but you really just need to take the initiative to get it done and really get completely involved yourself.  One you will learn a lot as you go through this process, but also the new habits you will be making are for you and not for a program that you are in.  It is those thoughts in our head that make people unsuccessful in the credit counseling.  Getting out of debt is a great feeling, but when you learn how to stay out of debt your stress level will completely change and your life will be 100% different than it was before.  So try this again, and be on your way to being debt free.

unt.  So think of it as you are actually saving money each month by paying your debt down.  I would start with the highest interest rate as the one you pay off first, or you could start with the lowest balance.  Whatever process you follow remember even when you are out of debt keep living within those means and start saving!

 

 
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