How to Know if You Need It

Due to many factors, more and more people are finding themselves deep in debt that they cannot repay. If this is you, you may be a candidate for consumer debt counseling but how do you know? Here are several questions you can ask yourself to see if this type of debt relief is for you.

Do you have debts from several creditors?

This is your first criteria for determining if you are a candidate for consumer debt counseling. Most everyone has the usual “fixed” expenses like a home payment or car loan, but if you find that you also have debts that you owe for entertainment purposes like boat loans, recreational vehicles, vacation payment plans, and multiple credit card bills, this is a sign that you have more than likely need to budget your spending and could use counseling.

Are you having trouble paying your monthly bills?

In a practical budget, you know what your monthly income is and what your expenses are for the “basics.” The basics are bills that include having a place to live, utilities, food, insurance, and a means of transportation. Being able to pay these bills is obviously of utmost importance and everything else is extra. If you find yourself having to juggle payments to be able to pay for your basic living expenses, you could benefit from consume debt counseling to get your budget back to realistic standards.

Have you been turned down for a mortgage loan, car loan or even a cell phone?

This is a sure sign that you have not only over-extended yourself, but have defaulted on payments and have incurred negative feedback on your credit rating. The problem could either be that you are not making enough to cover your debts or that you simply have mismanaged your bill paying. Counseling can help you identify the problem and manage your payments where they are more manageable and easier to repay and give you a system to get organized so that you make your payments on time.

Debt from several creditors, trouble paying monthly bills, and being turned down for loans are the questions you need to ask yourself if you are considering counseling. If you answered “yes” to any of these questions, chances are that you could benefit from consumer credit counseling and it would be in your best interest to check into it as a debt relief option.

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