Do You Know The Difference Between Debt Consolidation, Debt Management, and Debt Settlement?

Hey Veterans: Do you know the difference between a debt consolidation, debt management, or debt settlement?

Its an annual rite of passage.  Every spring, one of my friends will look at their debt payments and ask me how to best get rid of it.

I always start with: “Well, this won’t be easy but…”

As we all know, creating debt in a capitalistic society is super easy to do.

However, when it is time to pay back the debt the lender could care less if the debt owed is a few multiples higher than the borrower’s income.

As a result, this can leave borrowers dealing with harassing creditor calls because of their inability to make the minimum payments.  When this is the case it is pretty difficult to learn how to get out of credit card debt fast and start the path to fixing your credit score (ala this cleverly written article).

Since financial education is not part of our Western educational system, the hapless borrower will usually not have any idea how to correct the situation. However, there are debt management options out there that kind of sound like the same thing, but in reality are vastly different.

Let’s take a look at three typical options that may present themselves to the borrower.

Defining Debt Consolidation

Debt Consolidation means that the borrower applies for yet another loan. Hopefully the new loan is made with a lower interest rate that is designed to pay off multiple debts like a home or car or unsecured debts such as credit cards.

Low-interest rate consolidation loans are commonly secured meaning they use the borrower’s assets such as a home or a car as collateral. By putting all bills into this one loan, this can reduce the borrower’s monthly payment and may just give the borrower room to breathe and also pay down their debt.

But, as we have discussed elsewhere on this site, we do not recommend new loans to bail out old loans because this does not typically solve the root of the problem, which is chronic overspending.

Of course, there are several lenders out there eager for your business, even if there you may have a less than ideal credit score.

However, when choosing a potential lender, do careful detailed research, and double, no, triple-check the fees and terms of the consolidation loan are reasonable. Lastly, check and double-check that the company you choose has a good reputation.

So What is Debt Settlement

This method involves “getting tough” with the lending institutions by withholding payment for four months or so, then starting a negotiation process before the debt is sent to a collection agency.

When using this method, rest assured that it WILL lower a borrower’s credit score. But if you have some cash available, and choose not to go into bankruptcy, then you may be able to make this method work without help from a company.

However, if you choose to go through a company or agency for this service, it is very likely that you will pay heavy fees for the services.

The fees that come along with using a Debt Settlement Company may make it a no-win situation for both the borrower and the claimants. Just make sure to do your due diligence when choosing a company.

Debt Settlement is risky and has several drawbacks due to the varying levels of trustworthiness of the companies out there.

For example, they may take your payment and remit only a portion to the bank and keep the rest as a fee. Using this option to relieve debt burden could add more financial problems to your life rather than fix them.

So What is a Debt Management Program?

A Debt Management Program is a third party company who works with you and your lenders to create a structure that makes debt burden more manageable.

Out of the three choices, this is traditionally the most secure and dependable way to go.

Certified credit financial counselors can lend their expertise to help you create a financial budget plan that will provide a structure for digging your way out of debt based on your situation.

Not only does a good budget plan pay off the creditors but leaves enough cash flow for other family needs.

The professionals behind a good debt management program will work with the lenders to come up with a plan that works to satisfy the borrower’s debt without beating up the banker. How do they do it?

  • First, they review the debt on hand then set up a proposal.
  • Second, if the borrower agrees, the proposal gets sent to the lenders.
  • Third, the creditors take a look at the recommendations and either approves or rejects the agreement.
  • Fourth, if everything is approved, there will be a single monthly payment required to be made by the borrower to the credit counseling agency.
  • Fifth, after the Debt Management agency receives the initial payment, they will distribute the allotted amount to the creditors.

While under a Debt Management Program the benefit is that you only need to make sure you make one payment. The agency can typically request reduction to super high-interest rates as well, bringing the borrower one step closer to paying off the debt sooner.

When creditors when your back is against the wall and your debts threaten to overwhelm you, if you choose to seek outside help, the first call you make should be to a Debt Management Program.

Furthermore, make sure the agency has a good reputation, and they have been around for a long time with lots of solid customer reviews.

By choosing this option, the debt will have a chance be paid back with less stress and even allow you to bring the debt down quickly with extra cash if you are able to earn it.

Ultimately, the final decision is entirely up to the borrower to manage their debt burden.

What To Do When You Are In Debt and Unemployed

Veterans: Losing Your Job While Still Owing Credit Card Companies is BRUTAL!

Are you a veteran who has been fired from your job while owing a huge debt?

This situation can seem like someone is adding a fresh layer of salt to an open wound.  This is a situation in which a person might want to explore a guide to how to repair my credit myself.

How in the world is anyone supposed to get clear of their debt in this situation?

Well, we have some strategies that may help someone in this situation not just cope, but thrive! Read on to find out more…

Prioritizing Your Debts While Unemployed

When you’re unemployed, you may feel like you are drowning in bills and credit card debt.  Having little income makes it hard to think of options to get out of debt.

The good news is that it’s not impossible to pay off your debt while unemployed. Unemployment benefits don’t pay forever, so you should still be proactive in finding a job or in hustle mode.

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If you are in-between jobs there are several things you do that will still allow you to pay your obligations. Of course, there are many sacrifices that will have to be made.

Debt in our society will never go away as long as we are governed by capitalism. It is important to make paying off debt a priority to prevent an even bigger financial hardship in the future.

Not all credit card companies or lenders will allow you to defer or postpone payments, especially if you hadn’t arranged some type of insurance with them beforehand.

If you stop paying all together, your credit score will tank making it difficult to obtain credit in the future.

Prioritize Your Debts In A Logical Manner

Start by making a list of all of your debts and their interest rates. Call each one and see if any will allow deferment so you can postpone payments for a short period of time.

The ones that don’t, focus on paying down the credit cards with the highest interest rates first.

Keep your spouse in the loop, once they see you’re making headway, they may become motivated to help you keep up the good work.

Plan to Live Frugally As Possible

If you go minimalist and learn to survive on just the basic necessities, you can use any extra money you come across to pay down more debt. Start clipping coupons for groceries and minimize your use of gas and electricity.

If you continue to do so, over time you will start to make a habit of saving instead of spending money.

Get into the mindset to get out of the habit of using credit cards if at all possible. If you don’t have the money in your checking account for that thing you want but clearly don’t need, don’t buy it.

If you want to go on short vacation, save for it instead of putting it on a credit card.

Consider a Debt Consolidation Loan

A debt consolidation loan allows you to pay off your debts with a new loan and new terms.  However, we generally do not recommend exchanging debt for debt because the real problem is usually not addressed.

This just allows one to paper over the fact that they have no control over their spending.

However, if you get fired, all bets are off and it’s all hands on deck to keep the ship from sinking!

In particular, this route may be a good idea if you have credit cards with extremely high interest rates. The higher the interest rate, the more pressure it will put on you to pay off the debt.

A debt consolidation loan may get you a lower interest rate to save you money over time.

High interest rates also lead to high minimum payments. If you are unemployed, this can make it difficult to keep up. If you are overwhelmed because you have too many bills, debt consolidation will help you out with that.

All of your bills are reduced to one, making it easier to make your payments again. If you go through a debt consolidation company, they will give you a loan equal to the total amount of debt you owe.

You will then make your monthly payment directly to the consolidation company. If they can offer you a low interest rate, this could be a good option for you.

WARNING: There are some risks involved when going through a debt consolidation company. Your repayment plan may be much longer causing you to pay more interest over the life of the loan. If you make a late or missed payment, you could face high penalties and your interest rate could go up. It is also likely that you will completely tank your credit score immediately.

So is debt consolidation a good idea? Generally, we feel the answer is no. However, with all of the information out there to consider, you should do your research and speak with a professional.

Everyone has a different financial situation and this may or may not be the best route for you.

A professional can guide you through the process and better explain how it will work for your financial situation.

What Happens After Paying Off All Your Debts

Paying off debt while unemployed can be extremely difficult. However, it will teach you a lot of lessons along the way. Drowning in debt can lead to depression, illness and a multitude of health problems.

Once you have paid off most or all of your debts, your life will change. You will have the freedom you hadn’t experienced in a while and will now have the ability to pursue what you want with freedom.

Less monthly bills require less income therefore, you may be able to take some more time off or find a less stressful job. If you do go back to your regular job, you can use the extra monthly income to save for luxury’s and vacations.

Continue to Be Credit Card Responsible

Once you are out of debt, you can continue to use your credit cards responsibly. Using a credit card and paying it off in full before the next month will positively impact your credit score.

Start with one or two low interest cards and use them for gas or groceries. It is important to remember to pay the balance in full before the next billing cycle.

Getting out of credit card debt while living on minimum wage

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Hey Veterans: Annihilating Debt While Making Minimum Wage Is HARD

Debt in our society today acts as an anchor, tying you down to past mistakes that won’t let you move on into the future, threatening to overwhelm everything you’ve worked hard for in life.

Even though it may have began with something as small as a three-day vacation or a fun gadget from your local electronics shop, debt has a way of creeping up on you after its to late to deal with it.

Not only will it sneak up on you, but debt has a creepy, snow ball effect causing what was once a small, manageable problem, into a large seemingly impossible monstrosity to tackle.

Yes, credit card debt can be a deep hole but it is not one you are incapable of escaping. Although it may take a little bit of time depending on how long you’ve allowed your snowball to roll downhill, it is not out of your hands to be able to reverse the momentum.

No matter how fast its barreling out of control your credit card debt can be reduced with some small, easy steps to help you begin taking control of your life even if you happen to be working a minimum wage job.

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Step 1: Create a budget and stick to it

Although it has been said by many and heeded by few, developing a clear, concise budget will truly help you be able to start making payments on your credit card debt. By creating a budget you will be able to see all the details of when, how, and why your spending your money.

This gives you the opportunity and insight to make educated decisions on where you can save money and also cut down on spending cost. Budgets help you see where those dollars are going that seem to be disappearing like socks in the dryer.

lost socks unite!

Step 2: Find a roommate, housemate, or temporary tenant

Generally, when evaluating your budget your going to find that a large chunk of your money goes to rent, mortgage, and/or property maintenance. To help save money and attack your credit card debt viciously, it may be time to go on the hunt for a reliable, trustworthy roommate.

If your situation doesn’t allow for anymore permanent roommates you can always look into renting out spaces of your house for temporary periods of time. Think about renting out your unused shed in the backyard to the local garage band for a few hours a week or listing a room or space for a weekend a few times a month on a travelers hosting site.

Get creative! Using the space you’re already paying for to gain extra money can assist in cutting huge cost and annihilating your debt quicker then you would have ever expected.

Step 3: Look into part time, flexible money making options you can do using your cell phone

In the modern world of technology we find there to be multiple new ways of earning a little extra money on the side. Understandably, most people don’t have the capability or time to juggle a part time job on the side of their regular full time job.

However, now there are multiple applications you can get on your phone that allow you to pick up part time work at your schedule’s capacity. Think in terms of offering transportation services with your car, delivering food from restaurants, or picking up handy-work and yard jobs for the elderly.

There are many simple, easy to use phone apps that can help you earn a little extra.  You can then use this extra income to put towards your credit card payments. Even if its just a little, raising your regular payments will help improve your credit score in the long run and speed up the tedious process of paying it back.

Step 4: Evaluate what you have and decide on what you do not need

Many people have a stock-pile of random objects and things around their house that may be semi-valuable but hold no use to them anymore. It is not uncommon to find that a lot of these items themselves were bought on credit.

Of course, they continue eating away at your credit score while gathering dust in your basement or under your child’s bed. Spend a weekend going the minimalist route and begin rummaging through your things and deciding what all you really need and what of value could be sold for a bit of extra cash.

Furniture, electronics, kitchenware and all sorts of other goodies you may find around the house are perfect materials for yard sales and online sales. There are a multitude of online platforms, websites, and applications that allow you to sell just about any item you can find.

Don’t hesitate to get creative either, one man’s trash is another man’s treasure. There are plenty of things of no use to you that someone across the country may be searching for on the web as you read this!

FINALLY – Stay focused!

All-in-all climbing out of debt even with a minimum wage job all boils down to determination, diligence, and motivation. It will not be easy pay debt without changing yourself.  You will get many financial bumps and bruises on the way.

However, the important thing is to stay strong and focus on your goal of conquering your debt and becoming free. It is not an over night process but if one stays diligent they can conqueror their credit card debt with their minimum wage job in no time.

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5 Credit Card Scams You Need To Watch Out For


Hey Veterans: Be Alert For These Time-Tested Credit Card Scam Tactics!

Hey Veterans: Have you ever received fraudulent charges on your credit card?

Do you know someone who fell for a scam involving their card?

Well, if you don’t know anyone who has fallen victim to fraud tactics and have had to repair their own credit (like in this article) you might be living in a very remote area with almost no access to the internet.

The fact is that most people who are even only slightly involved in online activities are already victims of identity theft and probably don’t even know it.

The reason is that there have been so many breaches of supposedly secure online institutions that criminals already have most Americans social security numbers and a lot more info than we’d like to think.

I call this the chronic problem that quite frankly, almost none of us can escape.

However, that doesn’t mean you should just throw your hands up and randomly give up your credit card information to any random online or real life huckster.

These are situations that can create an acute problem that causes a rush of very painful, very stressful, in-your-face emotions and activity.

This literally forces you go into survival mode in a one-on-one fight with criminals.

We’ve still got to keep ourselves safe however we can.

How To Get Off The Scam Victim Wagon

Since we know that there are always scams and pitfalls ready to pounce on the unsuspecting, it’s better to be armed with the knowledge of how exploiters work.

Then, you can be alert and ready when shady situations present themselves.  So here are 5 credit card fraud schemes to be aware of:

1. Credit Card Skimmers

Whenever you are using a machine such as an ATM that seems to have a weird cover on the swipe area, BEWARE! A criminal might have placed a device designed to copy your magnetic stripe information as well as a camera to record any pin information you might type into the terminal. This gives them the keys to the kingdom and sets you up for some real pain in the near future.

2. You Missed Jury Duty Scam

We all know it’s our civic duty to show up for jury duty, but sometimes we just don’t see the darned piece of mail in all the junk mail that is constantly overflowing our mailboxes.

We also know that some jurisdictions will try to make life very difficult for anyone who skips jury duty.

Using this knowledge a popular scam involves a scammer calling you on the phone a claiming to be your jurisdiction who happens to be issuing a warrant for your arrest.

Flustered by the threat and inconvenience of jail, most people will gladly give up a lot of personal information, including credit card information, in order to avoid it.

3. The Defective Chip Card Scam

If you receive a call from your bank claiming that they need to send you a new chip card because of “an update” or “for security purposes”, hang up!

Then call your credit card company back using the number on the back of your card to discuss the situation.

It may be that you will find that someone was trying to play you and get you to give up some personal information. Congratulations, you just avoided some pain!

4. Better Credit Card Offer Scam

This one is slick. Imagine that you have been called by an account rep from your credit card company.

They say they have an offer of a better card for you due to your great credit history and standing as a long-time customer.

Maybe you’re a tiny bit wary until…they ask you to call them back on using the number on your credit card.

Seems Legit…Right?

The ruse here is that the scammer never actually hangs up! You press the numbers on the phone and get the scammer’s accomplice even though the person never really left.

Trust goes through the roof and you proceed to give them the keys to the kingdom. You have really got to be on your toes regarding these things nowadays.

5. The Corrupt Service Person Scam

This one can be difficult to avoid if you like interacting with service businesses such as restaurants or retail shops.

The scam works like this: the server or clerk takes your credit card and will then perform a double swipe.

The first swipe goes to the legit business. The second goes to a storage device for later use.

There was even a story of a Starbucks checkout clerk swiping customer credit cards while getting their latte’s. BUSTED!

See this video for more methods you need to protect yourself against.

If you have any other scams you know about, please inform everyone in our comments section or on our Facebook page!

Out of Debt and Feeling Free: What To Do Now?

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Hey Veterans: Let’s celebrate! Your new outstanding credit card balance is $0.00!

You did it! You cracked the code.  Exited the Matrix. Killed the monster. Somehow, against all odds, you figured out how to get out of debt fast on your own, just like in this article.

The credit card is paid off and now you have bucket loads of disposable income. But what, if anything should you do with your new found wealth? It can be tempting to rack the debt back on up, but you know you don’t need that new flat screen.

What To Do First

First order of business is to cut that card up, but do not close the account, that way your credit score will be able to build itself back up, after all, there may be a time in your life when you need to access credit.

What’s more, if you are not already a homeowner then you need to keep your credit score at an acceptable level in order to secure a mortgage. So with all that in mind, here are some tips to help you manage those extra bucks and enjoy your financial freedom!

Open a savings account.

A savings account was the credit card of the last generation and now that you are debt free, why not pretend you don’t have the money free and just save it, that way you will have the capital you need for your next purchase or emergency. Remember that small amounts will grow if left in the savings account long enough, $1 a week is still saving!

Invest it!

CD’s, stock or bonds are a good way to see a return on your money and a wise investment for the future. What’s more, they typically offer higher rates of return versus saving accounts. Cryptocurrency is also a big thing right now. It is basically internet money and there are a lot of calls for it to be traded nowadays.

Open up an educational/college fund

College, as we all know, is a money pit, so why not make the most of it now and start saving for the kid’s education. If you are on a low income then you may want to look into a 529 Plan education savings plan operated by a state or educational institution which helps you save for educational costs.

Start a family trust fund

You don’t have to live at Downton Abbey to have a little financial security. In fact, many families of modest means set aside funds for their children to help them start their adult lives. You don’t have to save huge amounts $5 a week for 21 years is a little over $5,000 and that is not counting any interest gained.

Save for retirement

If you believe what the statisticians are saying then when you make it to retirement, Social Security will be depleted. Go out and get the best plan you can and be aggressive with the investment. The average minimum monthly credit card bill payment is $300 think if you saved that once a month for 30 years then you would have $108,000! Make an appointment to see a retirement planner and research the different retirement saving options available to you online.

Consider a charitable donation

Now that you are no longer feeling the pinch and the stress of those card payments, why not share some of that happiness with others and make a donation to a charity of your choice. If you want, you could also stay local and perhaps sponsor a child to play sports or make a donation to your local school’s art department. If you are a kind person who cares about kids, why not pay for a couple of children’s lunches for the year and fill a hungry tummy!

Go on a vacation!

You just go out of debt so why not celebrate with a trip. You have earned it and you really knuckled down to get that debt cleared. Many cruises are less than $500 these days, so you could easily take a little trip with that extra cash!

Buy into a small business

Now you may be thinking, ‘that’s crazy, how can I invest in a business with less than $500?” The truth is that there are many franchises and businesses that look for small or group investors to start up or give their businesses a cash injection. There are trade shows throughout the country that offers franchise shares and other such offers. But, be careful to watch out for scams and never do business like this online for the scammers are getting craftier and the internet is a hot bed for rip off artists waiting to take what’s yours.

Work on your other debts (if you have them)

Presuming you have other debts now would be the time to pay those down. If you can make a lump sum, many companies may be willing to negotiate a payoff amount that is less than what you owe. Large cash payments are attractive to these companies as it means they can clear the debt quicker than they hoped for initially.

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How To Get Your Financial Life Back On Track!

News Flash For Veterans: Did you know that debt has a way of making your life less enjoyable?

It’s like that plant in Little Shop of Horrors constantly crying “Feed Me, Seymour!”

It may start out with a very tiny amount, maybe a gift purchase or a vacation, but little by little that tiny debt has ballooned into an unmanageable amount of debt that is making it hard for you to save.

Suze Orman mentions that the average credit card debt for Americans is $9,000 with an average interest rate of 17 percent.

Just to put this into perspective, if you were able to get 17 percent on your investments you would be a millionaire in no time.

So what are some steps in combating and paying off debt?

Get Motivated To Cut Down Debt

First, you have to find the leverage in yourself to get out of debt. It isn’t enough to say you want to get out of debt for the sake of being debt free. If this is your only motivation, you will be in debt again finding your place at the starting point.

You have to dig deep in your soul and understand that debt is hindering your ability to be financially free.

High interest debt is a subtle (or not so subtle) way of telling you that you may be in fact living beyond your means. Take this as a challenge and an opportunity to change your life.

Get Your FICO Score

Your FICO score determines a lot of things including your interest rate. You can easily obtain your FICO score from – scores range from 300 to 850 with the higher the better being the case.

No need in getting all 3 scores from the 3 various reporting agencies. One will suffice. The score is derived from multiple sources including your debt ratios, payment history, and length of credit.

One misconception is closing down credit cards helps your credit score. It does not because it increases your debt utilization. If you feel the score is too low, you can obtain a free credit report typically once a year at Annual Credit Repot.

If you have a high FICO score and are paying a high interest rate, make it a point to transfer your balances to lower interest credit cards. You may have two options here. Now with credit being tighter, you will find many of the 12 month zero interest offers gone.

But there are many with a good credit score where you can get 4 to 5 percent fixed for a period of time until you pay off the balance. Make it a must to payoff that debt.

But…My Credit Is Bad!!

Okay, so you say that your FICO score isn’t so hot. Now what? Well there are a few places online that you can go and try to get a loan from a peer to peer loan network.

These places allow potential lenders the ability to bid on personal cases and offer loans at competing rates. You put your loan up for bid auction style and after a week normally, if you had set a competitive rate, you will have your loan filled.

The good thing about peer loans is the note is typically payable in 3 years completely amortized with simple interest. The benefit of this is that it forces you to pay off your debt quickly even if your rate is higher.

Unlike a 24 percent loan with a credit card, a 24 percent loan on peer loan includes the principal and interest and usually you are paying a large piece toward the principal.

Chances are that you will get a much lower rate however if you have okay to poor credit here compared to industry credit cards. Your payment is automatically taken from your checking account so there is no need to worry.

Getting out of debt should be a priority for the new year and there are many ways you can save money by getting rid of that albatross.

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Equifax Breach – What Do We Do Now?

Recently Equifax let it be known that 143 Million accounts would be possibly impacted by the biggest data breach in recent history. Yes, 143 Million people’s accounts are now possibly in the hands of scam artists.

That number is so big that it boggles the mind.  I mean, the United States had only 322 Million people according to census data in 2016.  When you think about how many of those are people under the age of 18 what it is basically saying is that:


There are many, many problems with this but the biggest useful question is “Now What The Hell Do We Do?”

I like this guys answer in the video below. Enjoy!

What Type Of Family Budget Do You Run?

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Quick: Which category do you and your family fall into?

I have determined that financially, people typically fall into one of three categories.

1. Family A has all the money they need for necessities and more and manage it very well.

2. Family B has all the money they need for necessities and more but live payday to payday with ever increasing debt.

3. Family C don’t have enough money for necessities, and live with soul-crushing, joy-stealing debt amounts.

The funny thing about the three families above is that they could easily all have exactly the same level of income and family size. This is not to say that special circumstances has nothing to do with it, but on the average most people in industrialized countries live above their means.

Family A has most likely established a workable budget and also are determined to live within it. They simply don’t pay more than they can afford for housing, transportation, utilities, etc., even if their “things” seems a little poorer to some.

They also tend to have money set aside for long and short term savings. This short term savings provides two things.

First, it makes money available when the car breaks down, you need a new washer or any number of unexpected expenses that crop up. Second, it prevents the need to use credit cards for these items. The savings here could be hundreds of dollars. Family A has planned for the unknown and are making their future brighter on their own.

Family B is most likely still struggling to establish a budget. In many cases their house payments or rent is a bit more than they can really afford. It’s also likely that they don’t take the time to evaluate the money that could be saved with a tiny bit more effort.

Usually there is little to no long term savings, let alone short term. They most likely use credit cards as if they were cash and pay hundreds of dollars in unnecessary finance charges and penalties per year.

These people find themselves with financial problems that often slowly but eventually leads to bankruptcy. Family B either didn’t plan or may not know how the handle the unknown surprises that pop up in their finances.

Family C has probably given up on a budget and on planning in general. When payday comes, the bills eat it like lions taking down a wildebeest. No matter what they do there isn’t enough money to pay for housing and other necessities. Some even struggle to put food on the table. Most don’t qualify for more credit cards due to burned up credit histories, which is probably a good thing for them not to dig themselves deeper.

In many cases this situation is self inflicted but, for sure, some are due to really unfortunate circumstances.

What is the answer to these problems?

Family A – Leave these people alone unless you plan to seek their advice, and plan to actively model what they are doing!

Family B – These are the folks that need to seek help and stand a chance of becoming like family A. The possible solutions include a debt management company like Consumer Credit Counseling Service. They need to establish a budget and stick to it.

If their housing and other expenses are too high, then they need to cut back, even if they have to move. They also need to cut up any remaining credit cards and seriously consider consolidating. Depending on how far they are in debt, this could take years and more patience than they might currently have.

Family C – While their struggle seems useless, there are things that can be done. First, they need to see to it that everything is being done to keep expenses down. The electric bill is a good example. There is federally subsidized housing that only charges a small fee based on your income.

Make sure that they are receiving all federal and state benefits that they are entitled. If they are able, they should seek job training or some other means to make their life a little better. Also, if they are deep in debt, the need to learn ways to pay off debt.

Which family are you? No matter whether your are family A, B or C, there is hope. The primary thing that must be done is to educate everyone in the family together that learning to managing their finances is absolutely necessary for their peace of mind. With the vast amount of information on the internet providing help, this is utterly doable and completely possible.