Should You Get Credit Counseling?

Should You Get Credit Counseling?

Americans are facing many economic problems at home:dropping home values, shrinking job options, and prices rising. But one of the problems plaguing nearly every household is financial debt. The average credit card debt for low and middle income American households is $8,650. While many Americans feel that they are managing their money in an appropriate manner, the facts state that this is far from the truth. Millions of Americans are concerned about not being able to pay their spiraling bills.

Americans are facing many economic problems at home: dropping home values, shrinking job options, ever rising prices and stagnant wages. But one of the problems plaguing nearly every household is financial debt. The average credit card debt for low and middle income American households is $8,650. While many Americans feel that they are managing their money in an appropriate manner, the facts state that this is far from the truth. Millions of Americans are concerned about not being able to pay their spiraling bills.

Here are some of the few key signs that you may be having a problem with your credit:

-Are you unable to sleep or have knots in your stomach thinking about how you’ll find the money to pay your bills for the month?

-Are you afraid to answer the phone because you don’t want to talk to any more debt collectors harassing you about overdue bills?

-Are you arguing with your spouse or partner over money issues?

-Is your email being flooded with collections notices? Are you getting too many notices in the mail that drowns out any other mail and make you fear going to the mailbox?

If you were nodding in assent to any of the questions above, it will probably be worth your time and money to seek credit counseling. One of the benefits to all the hassle credit enhancement companies love to burden you with is that they usually offer a free credit consultation. This means that they will advise you one what options are available to you to help you fix your credit. It’s possible that after speaking with an agent you will learn that credit counseling is not for you–or you may learn that you can fix your credit on your own.

Calling an agent isn’t the only option. A quick search on Google will bring up thousands of free tips. A trip to YouTube will give you hundreds of videos made by ordinary citizens just looking to help you out.

Keep some tips in mind when searching for the right credit counseling services. Don’t go into the process believing that your debts can be wiped out. These debts are still there, but many can be altered with the assistance of credit counseling. Taking the extra step to reestablish your financial credibility will go a long way to erasing debts. Be leery or dismiss altogether companies that promise to erase your debt. Also keep in mind that “credit repair” companies are offering something that they legally can not do. Look for services offering credit enhancement.

Remember that the money that you’re paying for credit counseling is a small fraction of what you will be saving in both the long and short run. By identifying false information, you could be saving hundreds or thousands of dollars a month. With nearly 90% of Americans having false information on their credit report, it’s a safe bet that you will benefit.