Debt Help, Where To Turn When You Are In Over Your Head

Overwhelming debt can make you feel physically sick

. It can affect your health, your relationships and your ability to live a happy life. A mountain of debt can seem insurmountable.

The truth is that is very difficult to get out of debt, but it is not impossible. There are things that you can do to alleviate and eliminate your debt problem. Debt help is available; you just need to know where to look.

If you are in debt, there are several places that you can turn to for help. The following are great places to start:

* Your Mortgage Company Yes, you owe your mortgage company money already, and, no, it isn't going to give you a break. But it can help. One of the best ways to alleviate burdensome debt is to combine it into a low-interest loan. Mortgages have the lowest interest rates of all types of loans. If you can refinance your home, you might be able to drastically reduce your monthly payments.

* Your Friends and Family You should never be afraid to ask for help from those who love you. Help can come in the form of a no-interest loan or some grocery money. The money you save can be put toward paying down your debt burden. Sometimes, simply saying you need debt help is enough to spur your loved ones into action.

* Credit Counseling Agencies Profit and non-profit debt counseling agencies can help you begin the climb over the mountain. First, they will help you lower your monthly payments and secure lower interest rates from your creditors. Next, they will combine all of your bills into one payment. Last but not least, they will help you formulate a workable budget and teach you the skills that you need to remain debt free.

* Your Lawyer In drastic circumstances, it is advisable to have a lawyer on your side. A lawyer can help you stay in your home and give you the legal resources that you need to turn around your financial situation. Remember, bankruptcy is not your only legal option. You can hire a lawyer to help without having to file bankruptcy.

* Your Boss Talk to your boss about your situation. Maybe you are due for a raise. At the very least, you might be able to secure some overtime that will help you pay off your bills.

Being in debt is scary. Everyone is quick to blame and threaten, but few have answers that will really help. Do not take the scare tactics that your creditors employ to heart. They are just trying to get their money from you.

Usually, their tactics are born from desperation. They know how hard it is to collect on a defaulted account. So, they will be more than willing to work with you if you present real solutions to your problem. Put everything on the table. You will find that your creditors will back off if you communicate openly with them.

by: Dan Cavalli

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