Let’s face it! Everyone needs financial assistance whether it will help you get out of debt or you just need an extra cousion from your paycheck. I had 10 active credit cards at one time and I used the cards to get by and then pay the money back with interest on my next paycheck and so on and so on. This was the usaul for me for about 3 years. I was stuck in debt!! I couldnt get out of it! It was too expensive for me. I had no choice but to seek credit counseling. I was able to get an affordable monthly payment which cut my payments by 40%-50% and my high interest rates were no long high anymore. Some were eliminated which was the best!! I got out of debt in 3 years. It was a 5 year program but I wanted to try and get the debt paid off before then. The only downfall was the cards were automatically closed which hit my score at first however after a few on time payments, my score started to increase again. Once they were all paid off, guess what happened? The credit card companies sent me offer letters again lol My point is, its not the end of the world if you need to stop your credit card cousion and get the financial help you need. Nothing is perminent. If you have collection agencies hounding you, I would suggest you contact them yourself and work out a payment arrangment or a settlement. Most of the time, if you ask, they will mark the accounts as paid in full rather than settle in full on your credit report when they are paid off. If you owe a collection agency $500, they may offer a settlement for half of the balance. They may even offer for you to pay the half of the balance within a few payments. If you have any IRS debt, PLEASE contact them right away and set up a payment arrangement. I owed the IRS about $8000 at one time and I was able to pay them off within 4 years by paying $75 per month plus they would take my tax refund every year but I was able to get it paid within a few years. They will work with you if you ask them to. Dont let your IRS debt just sit there because one day you will see your wages garneshed and wonder why because it will happen.
Free Credit Counseling Advice for anyone oppressed by debt. Know All Your Options.