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Military personnel may consider consumer credit counseling for debt help
By Oscar Monfort on Apr 11th, 2010
The fear of growing debt may cause some consumers to shy away from dealing with the problem, an ill-advised strategy that will only make matters worse.
In a recent story from the American Forces Press Service published on the Department of Defense's website, the Pentagon's personal finance director noted that members of the military need to act as soon as possible in order to deal with bill problems.
"Financial problems aren't like a fine wine; they don't get better with age," Julian said.
Members of the armed services have a number of free options when it comes to financial counseling, including the Military OneSource program or advisors located at their base. Julian said they may also consider counseling services in the private sector, though he advised personnel to research these companies before soliciting their services.
Waiting to solve debt problems will probably only increase the amount people owe, which is why consulting with a consumer credit counseling service could be beneficial. These firms can examine a client's debt and figure out whether their incomes can support paying it off. If not, they may be able to offer other options, such as debt consolidation.
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