subject: I Have Overwhelming Debt - What Do I Do? [print this page] Debt is very common in the country right now. Many people have been faced with unexpected circumstances and have been forced to use credit cards in order to finance day to day expenses. And others have just overspent on things that they wanted and probably did not need and now they are dealing with the aftermath of that spending.
Getting started is often the most difficult part of debt relief. When you feel overwhelmed it is often hard to know what you should do next. If you do not believe that you can find your way out of your situation without help, go see a credit counselor and ask for help. These organizations are in the business of helping people become debt free. They will help with a plan for debt relief and give you the tools to stay that way.
The traditional debt management plan that 90% of all people that ask for help end up with consolidates your unsecured debts so that only one payment is needed each month. Your payment will be about 2% of the amount of the debt you have enrolled in the program. The big benefit that credit counseling offers is a large reduction in interest rate. Many of them will be reduced to a number lower than 10%. With this being the case a large percentage of your payment will be applied directly to the principle amount of your balance.
The plan is easy to follow and will give you the structure you need to repay your debt and move forward. A traditional debt management plan usually takes about five years to complete. Taking the steps necessary to resolve your debt problem will allow you to regain control of your finances and move forward with your life. You cannot prepare for the future with debt hanging over your head. Get a free quote for debt consolidation today!
by: Marjorie Salada
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