Drowning in debt? Considering hiring a debt consolidation company? Have you considered do it yourself debt consolidation?
Debt seems to creep up on people. At first you have a credit card with a small balance. Maybe its one of those credit cards with a great reward program so you decide to pay all your bills for the month on it and you intend to pay it off completely at the end of the month.
Then something happens. So you pay just the minimum amount and you will pay it all off next month.
Then you have car troubles! So you charge the repairs and again tell yourself you will pay it off at the end of the month. Before you know it, you have maxed out your credit card and there is NO WAY you can pay it off at the end of the month.
This is the road to credit card debt hell! Some people are able to stop themselves here, while others fall for the trap of applying for another card so that they have a credit card for use. And before they know, THAT credit card is maxed out.
Then they miss a payment and that low interest rate they had been paying doubles and in some cases triple! What to do? Some people turn to debt consolidation companies. Some “do it yourselfers” turn to sites like EzCreditRepairSolutions.com and learn how to negotiate their debt like a processional debt consolidation counselor!
Only you'll understand just how much help you need to get back on your feet, and what your present financial position is.
If you are an organized person you can contact your debtors and negotiate with them to bring the rate down and create a payment plan to catch up on past due payments.
One of the benefits of doing it yourself allows you to keep those lines of credit open. If you have learned from the experience then it should be a safe thing to do. But if you feel like given the opportunity you will max out those cards again, then a debt consolidation company is DEFINATELY the route you should take. When you work with most services, you will lose access to those credit lines so you can no longer charge them up.
If budget guidance and fiscal restructuring is beyond your skills, then you definitely should get in touch with a great debt counseling company in your community or on the internet, whichever makes you feel more comfortable. Work with them to create a strategy to work with your present lenders so that you can rapidly get out of debt.
Related Post: Drowning In Debt? Debt Consolidation May Be The Answer