10 Signs You May Need Credit Counseling

Debt management programs can be of real help for people that discover they cannot face their debts. At first, they will attempt to solve the situation all by themselves by cutting down on spending and keeping a close eye on accounts. If this doesn't work then it is time to ask for help from a financial expert. The sooner you admit you need help from an expert, the better will be for your future. The best time to seek the advice of an expert is before the appearance of most of the important 10 signs you may need credit counseling. You should already be worried when one or two signs appear. Of course that there are not only 10 signs you may need credit counseling but, these 10, are the most important. When you see more than a few of 10 signs at the same time, know that the situation is bad and getting into a debt management program could be the right solution for you.

There are not a fixed number of signs that can tell you your debts are slowly killing your financial life, but in the following lines we will try to present the most important 10 signs you may need credit counseling. The most important sign is loosing your job or the possibility to loose it. The first thing you think of when you loose a job is how you will pay all your bills. In such a situation it is best not to loose your cool. You may think you just need to start looking for a new job and the bad situation will be solved. In case your next job does not come in the near future, the best thing for your financial situation would be to ask the advice of a credit counselor; even for the most desperate situations he will certainly have a solution. You should also be worried when your credit card balances are increasing while your monthly income is decreasing. This would mean that, in short time, you'll not be able to pay your monthly minimum payments. This is another sign that you need credit counseling; if paying the minimum amounts required on your accounts is a situation that lasts a short period of time, and then the problem is not that bad. But if the situation repeats itself over and over again, this is a sure sign you may need credit counseling.

When you discover that you have more credit cards then you need, know that this is one of the 10 signs you may need credit counseling. You have more cards then you need because you're trying to pay an existing card with the cash advances obtained from other new cards. Another situation that could indicate you need the advice of an expert is when you're constantly charging monthly more than you pay. If this is the first sign of financial trouble many people will try to work it out on their own by working overtime or taking a part time job. As we said before, if the situation is for a short period of time and you manage to get out of trouble all is fine but if it continues for a longer period this is another sign that you may need credit counseling. Also, if you start getting letters or phone calls about late bill payments, you should be worried at once.

These 10 signs you may need credit counseling do not appear all at once; in time, one after the other, they will eventually appear. But it is mostly important to recognize them all, admit you have a problem and ask for help. There are situation in which the signs mentioned before appear at a certain moment but the person in trouble cannot see them or refuses to see them. More than that, people in financial trouble don't know how much they owe and don't want to find out. This is another sign that financial counseling is needed. The situation could get worse in case all this financial problems are not made known to the spouse as well. And, sometimes, when trying to hide such a bad situation, people in trouble are using their savings to pay off the monthly bills.

The best advice for people that are experiencing this kind of trouble is to not let all the signs accumulate. When few of them appear and repeat themselves for a longer period of time, wise people should ask for advice from a financial expert that will surely have few options to get them out of debts.

This article has been provided courtesy of Creditor Web. Creditor Web offers great credit card articles available for reprint and other tools to help you search and compare credit card offers.

In The News:


pen paper and inkwell


cat break through


Keep Your Credit History Clean - Remove A Negative Credit Record From Credit Report

The three major credit bureaus, Experian, Equifax and Trans Union... Read More

Have You Ever Opened a Checking Account?

Maybe some of you are saving it in your trusty... Read More

Debt Collection Agencies

Debt collection agencies are often a viable option for receiving... Read More

Clean Credit Report: Easily Raise Your Credit Score 100 points

Clean Credit Reports, your credit report contains information about where... Read More

What Is A FICO Score?

A credit score is most commonly known as a FICO... Read More

Which Business Credit Cards with Reward are the Best?

Thinking of applying for a credit card with a reward... Read More

Learn About Prepaid Credit Card

Prepaid credit cards also called stored value card can be... Read More

How To Choose Your Credit Card Application

The articles and tips provided on this site are intended... Read More

Useful Tips On Avoiding Credit and Charge Card Fraud

Credit and charge card fraud costs cardholders and issuers hundreds... Read More

Dealing With A Collection Agency

Step I - Selecting A Collection AgencySelecting a credit collection... Read More

Establishing Credit ? What You Need To Know Part 2

In my previous article "Establishing Credit ? What You Need... Read More

10 Ways of Reducing the Risk of Identity Theft

1- Check your credit report regularly2- Secure personal information in... Read More

Student Credit Cards 101

Almost all students have and use student credit cards. Some... Read More

New Credit Scoring Model Could Help Millions

Mark and Beth, a young married couple in their twenties,... Read More

Making Sense of the Information in Your Credit Report

If you've ever applied for a credit card or loan,... Read More

Tired Of Being Broke?...Learn How To Force Banks To Give You Money!

Imagine...obtaining credit that's incredibly easy...opening doors of opportunity you never... Read More

Saving Money: Quick Cash, High Cost

I didn't think it was possible. But it is. Folks,... Read More

Negotiating Rates with Your Credit Card Company

Ok, let's face it, everybody hates high credit card rates,... Read More

Repairing Your Credit Score and Clearing Derogatory Marks on Your Credit Report

Raising your credit score can be a fairly simple and... Read More

Do you Know the Benefits of Checking your Credit Report?

Do you know why you should check your credit report?Of... Read More

Do You Want to Get a New Credit Card at a Great Rate?

1) Do your homework. Applying for and getting approved for... Read More

How to Evaluate and Raise Your Credit Score

Why do some people get offers for pre-approved credit cards... Read More

What Happens When Your Credit Is Damaged? Do You Have Recourse?

The good thing about bad credit is that you can... Read More

How To Repair Your Credit Report

A credit report is run on a buyer when he... Read More

Watch Out For Credit Repairs

It is very easy to find a site that is... Read More

7 Consumer Credit Laws You Should Know if You are Trying to Repair Your Credit

There are seven consumer credit laws you should be aware... Read More

Errors on Your Credit Report: What You Should Do

There are times when you may be turned down for... Read More

Easing Your Financial Burdens With Credit Counseling

It is a well-publicized fact that more of us are... Read More

Student Credit Cards 101

If you're a college student, you probably already have a... Read More

Give Yourself Credit

The Beginning of the Credit Card EraIn 1951, Diners Club... Read More

4 Steps to Creating Good Credit

As a consumer you've learned the importance of establishing a... Read More

What Are The Most Common Credit Card Mistakes?

Now in a world with so many easy to get... Read More

A Summary of the Fair Credit Reporting Act

This summary of the Fair Credit Reporting Act will explain... Read More