When credit card balances aren’t paid on time, interest accumulates making it impossible to pay the debt off. Here’s what happened to a relative of mine…

Recently, a niece of mine called. She has a serious problem with her debt management. She’s gotten to the point where she’s now too far behind in her credit card payments making the payments seem endless…she’s made some late payments which caused her interest rate to increase and late fees added on top of that. She’s been paying on them, but isn’t getting closer to paying her debts. Her credit card debt has affected her payments for other obligations and when she started getting behind in her secured debts (mortgage and car), she was about at the end of her rope.

I suggested my niece contact a debt counseling agency for credit card debt help. A teacher I work with was in the same situation. She used a debt counseling company for help in paying off her credit card debt. The debt counseling company asked her to bring in her credit card bills. After reviewing her debts, they contacted the companies and negotiated a settlement amount…often eliminating the extra interest and late fees. They consolidated her debts and divided the total into a single monthly payment that would fit her budget that they helped her create. Debt management help really helped her.

From then on, until the debts were paid, my friend paid the debt counseling agency one monthly payment and they disbursed the payments to each creditor. It took her about three years, but it was a relief. The credit counseling also took a lot of stress off – no more creditors calling her and with her new budget, she was able to manage her money. She was able to catch up with her other bills and have some left over.

If you are overwhelmed with your credit card debt and need help, contact a reputable debt counseling agency. They should be non-profit, you shouldn’t have to pay a fee. Debt counselors receive their fees from the creditors. Do your research before you agree to get help with your credit card debt.