Explore options to regain financial stability.
Debt problems are draining – financially, emotionally, mentally and sometimes in the worst cases, they can even affect your physical health. So when debt problems strike and cause financial distress, it’s critical to find a solution as quickly as possible so you can regain control.
Of course, like any financial challenge, you probably weren’t taught how to solve debt problems in school. So how do you wade through all of the options available and how do you decide which option is right for you?
This section of our website is designed to help you find the right solution for your debt problems. If you still have questions or need help finding the right solution for your unique financial situation, call us today at or ask for help now with a request for a free Debt & Budget Analysis.
Keeping Your Debts Under Control
Ideally, you want to develop strategies that allow you to maintain control over your debt payments. This involves budgeting carefully to make sure your debt payments can be covered without sacrificing other things that you need.
These resources help you keep debt in control to avoid problems:
- The Basics of Debt Management »
- Calculate Your Personal Debt-to-Income Ratio »
- American Spending Statistics: How Do You Compare? »
- How to Prioritize Debt Repayment »
- Tips for Managing Auto Loan Debt »
- Coping with Financial Stress »
- Negotiating Effectively with Your Creditors »
- Restructuring Debt to a Bi-Weekly Payment Schedule »
Consolidating Your Debt to Avoid Distress
When you start to struggle with credit card debt payments and other unsecured debts, your first consideration should always be to consolidate. This rolls all of your debt obligations into one payment at the lowest interest rate possible.
The following resources help you understand debt consolidation:
- Take Control with Debt Consolidation »
- DIY: How to Consolidate Debt on Your Own »
- The Pros and Cons of Debt Consolidation »
- Understanding the Credit Effects of Consolidation »
- Debt Consolidation for Military Service Members and Veterans »
- Medical Debt Consolidation »
- Payday Loans & Debt Consolidation »
Credit Counseling: Professional Help for Debt Problems
If you can’t solve debt on your own, your next move should be to contact a certified credit counselor. Credit counseling is designed to evaluate your debt and offer personalized advice on your debt options to regain control.
These resources explain how credit counseling can help you:
Enrolling in a Debt Management Program
If you can’t get out of debt on your own, your credit counselor may recommend a debt management program (DMP) – designed to help you pay back everything you owe in a way that’s manageable with your current budget.
These resources explain how a DMP can help you:
Explore Other Debt Solutions
When you can’t pay back everything you owe, even with a debt management program, you still have options that will allow you to regain your financial control. You may face credit damage, but it may be worth it for a fresh start.
These pages explain alternative debt relief options:
Understanding Your Credit Rights
When it comes to debts and collecting payments on debts, creditors and lenders are bound by the law – but they don’t always follow it to the letter. It’s important to know your rights as a consumer.
The following resources help explain your rights: