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Consumer credit counseling may be a place to turn when dealing with debt
By Marvin Milner on May 8th, 2010
People who are dealing with large amounts of credit card debt may not know where to turn, though there is help out there.
In a recent blog post for the Atlanta Journal-Constitution, writer Henry Unger printed a letter from a woman who said she and her husband had amassed more than $40,000 in credit card debt. Furthermore, her spouse has faced a pay cut, which is hurting their ability to pay off bills.
Unger suggested that the couple contact a consumer credit counseling service as soon as possible. He also said any additional charges on credit cards should be avoided.
"During counseling, you will get help prioritizing your expenses and get advice to shed some things you don't need," Unger said.
Along with analyzing finances, a consumer credit counseling service can offer other avenues for dealing with credit cards. For example, they may suggest a debt management plan, which can reduce the amount of interest a person pays in the long run.
Regulations from the federal government also require that credit card companies include a phone number on billing statements which can connect people to consumer credit counseling.
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