Debt is a huge problem for many people in this country
. You would probably be surprised at the people that are carrying credit card balances. If you are one of them, the sooner you make the changes necessary to pay off that debt the sooner you can get on with your life. You are basically in limbo while you have debt and have the feeling of being stuck. It is a terrible feeling.
One of the hardest things to do is to stop using your credit cards. You have gotten used to having what you want when you want it and now that will all be over, but it will be worth it in the end. You have to realize that the more money you can put towards your debt the sooner you will have your life back. You can pay your credit card debt off on your own and many people do.
Many people need the structure of a debt management plan in order to be able to get out of debt. This is where a credit counseling company can help. These companies will get you out of debt if you are willing to put the plan they give you into action. Your unsecured debts will be consolidated into one account where you will make one payment each month to the credit counseling company and they will disburse it to your lenders.
Your payment will be about 2% of the debt that you have enrolled in the program. The easiest way to make the payment is to set it up as an electronic withdrawal and many companies require it. Enrolling in credit counseling is a credit friendly program that will have significantly reduced interest rates and eliminated fees. This will allow you to pay your debts off in less than five years in most cases. The most important part of this process is evaluating why you had excessive debt in the first place. The worst thing that could happen is that you end up in debt again.