Bad Credit Agency

Home > Credit Counselling Agency Information > Credit Counselling Agency Knowledge Base > In Debt $100K.?

In Debt $100K.?

I am 28 and make about 55000 a year. Between credit cards and car payments have about 100k in debt. Thinking about credit counseling agency or BR. I dont know what do cause i know that BR sticks with you for a while and CCA affect credit score. I make all the payments but it leaves me with no disposible income and really is affecting my stress levels. Any advice??

Public Comments

  1. woooooo!!!!!!!!
  2. Sorry to hear you put yourself into this position like most Americans. You just need to keep paying it off and not just the minimum payments otherwise it will take you FOREVER.
  3. You can negotiate with the credit company to lower the payments to a workable level - even do a settlement for a fraction of the amount. If they resist - ask to speak to a supervisor - and then let them know f they won't work with you - you'll be forced to bring in a credit counselor or go bancrupt.
  4. There is a fellow on the radio who talks alot about your problem. He's got some strong suggestions on helping you get yourself out of debt, and staying out. His name is Dave Ramsey; his website is;daveramsey.com. He's got a book out called; The Total Money Makeover. I've read it, and sent one to a dear friend. Four years ago I was $80,000 in debt. Now I am debt free and love'n it. Check out that website! Best wishes.
  5. If a person has accumulated a large amount of credit card debt due to multiple credit cards, the need for a proper counseling for credit card debt consolidation can't be understated. Credit card debt consolidation counseling helps a person get vital insights into the facts that can help him get control over the credit card debt. Credit card debt consolidation counselors are experts with a good knowledge of debt management, budgeting and behavioral patterns of credit card holders. These services are vital for those struggling to manage their credit card debts. Also called credit counseling or debt counseling the credit card debt consolidation counseling brings immediate relief to a credit card holder. A person seeking credit counseling can get it from two types of organizations. The professional or commercial organizations, and the non-profit organizations. As depicted by its name or categorization, the commercial organizations charge money for their credit counseling sessions and consolidation help on the other hand the non-profit organizations offer free of charge services. Just because the non-profit organizations are free, it doesn't undermine their quality of service. The persons associated with such organizations are thorough experts and have lived the trauma of being under credit card debt themselves and hence bring their vital experience to the credit card holder. When a person approaches a credit counseling agency, the first thing it will do is to take stock of the situation and get various facts about the credit card debt. The credit counseling agency collects data about the income, expenditure and spending habits. It will guide the credit card holder about budgeting benefits and try to inculcate good financial habits. Read more from: http://www.credit-card-gallery.com/article/353,Credit_card_debt_consolidation_and_credit_counseling_great_tools_to_get_rid_of_credit_card_debt
* Some answers may have been provided by Yahoo! Answers.