subject: Getting Out Of Debt Is The First Step, Financial Stability Is The Second [print this page] The current economy has left people with a large amount of debt. If you are one of these people, you know how debilitating this can be. It will often be the last thing you think about at night and the first thing you think about in the morning. It will invade your life and life and keep you off balance. The sooner you can get your debt under control, the sooner you will begin to see normalcy in your life again.
There are a number of good books that have debt management plans. And even if you opt to use another debt relief method, these are still something you might consider reading just for the information they contain. However, most people that have over $10,000 in debt will need assistance to get their debt under control. If you are only making minimum payments, you will be looking at many years of repayment.
Getting out of debt can be confusing, but a consumer credit counseling agency can help you understand the next step you need to take. They work with different types of finance professionals and if debt counseling is not able to help you, they can refer you to a company or an individual that can provide you with the help that you need.
Being enrolled in credit counseling allows you to consolidate all of your unsecured debts without a loan or a credit check. You will be making only one payment each month and it will be about 2% of the total debt that has been placed in consumer credit counseling. The interest rates on you accounts will be reduced to around 10% and your fees will be eliminated. If you are able to follow this program, you will be out of debt in 3 to 5 years.
Getting out of debt is the first part. After that, it is important that you take steps to become financially stable. You will need to do things that are going to move you forward so that you are in a position to live out your dreams. No one wants to spend there whole lives paying credit cards. Get a quote for debt freedom and be aggressive about getting out of debt!
by: Marjorie Salada
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