When working in the Home Loan business and seeing how people fall into debt you enter into a world were people are drowning and we are constantly in a field that needs advise. Don't wait until its too late to sort out a potential debt problem. Do a credit check. Clean up your credit record. Its not something to be ashamed of, but it is something that should be managed sooner, rather than later, when the pressures have reached insurmountable proportions.
By negotiating lower interest rates and waived late fees, you can often arrange more affordable payments and shorter payoff periods. You can also consolidate your debts into one convenient monthly deposit that will disburse directly to your creditors.
Once you acknowledge your debt and get your payment plan into place, its amazing how quickly your stress levels drop. Your creditors are more likely to be understanding and accept that they will be paid, and the pressure on you is reduced to manageable proportions.
Labeling the cause of your debt overcomes the hurdle of denial and sets the course clear to financial rehabilitation.
Few things in life cause more tension than a debt crisis. Do not tackle this alone. Ask those closest to you to help see you through this difficult time.
Can you deal with bad debt?
If you need a debt counselor use a reputable organisation and check what it is going to cost before you sign up, and in many instances your bank can help you.