There are a lot of credit counseling and debt management programs available to individuals and families that are struggling to manage their increasing debt situations. If your creditors are not willing to work out a flexible or reduced payment plan or you have not been able to manage your debt yourself by creating a workable budget and setting aside a certain amount each month to put towards managing your debt then it might be in your best interest to find a counseling program that can work with you to better manage your financial situation.
The FTC recommends finding a program that allows for in-person debt counseling since these kinds of programs have the highest success rates. You can start by searching locally for different programs available to you; start by checking to see if your current place of employment offers confidential financial counseling services. Additionally, most universities, community groups, military bases, and lending organizations offer some kinds of counseling programs for community members. Keep in mind that while most organizations advertise themselves as non-profit they might not always be free; most fees paid to these groups go to pay administrative costs and salaries of the staff.
In addition to local credit and debt counseling programs, the Internet is a great resource for debt management. Make sure that whatever program you decide to go with is well-accredited and has a confidentiality agreement, meaning they will not share your information with any other organizations.
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