Can anyone recommend a good, reputable credit counseling/debt reduction organization? I'm not destitute, homeless or in COMPLETELY over my head, but it sure feels like it some days. I try to do the right thing and it seems to backfire on me. For example, I switched from just making my monthly mortgage payment to a mortgage excelerator program (say your mortage is $680 a month, $340 is taken out of each pay resulting in one extra payment a year and earlier pay off). Well, now instead of being broke one pay a month, I'm broke EVERY pay! In all honesty, some of the expenses accumulated over the years have been avoidable, but the big expenses, like necessary repairs around the house, car maintenance, and medical expenses are unavoidable. And what really pisses me off is making a $200 credit card payment (since they have doubled) and on $20 actually goes towards paying it off.

I increased the amount that goes into my savings every pay, but then had to decrease it recently because I needed the cas handy for gas, etc. I've got my 401K and IRA and all that stuff. I guess I don't really have anything to whine about. I've got a job and home and car and family, and I'm the first one to say that you never see an obituary that reads 'and she had a really good credit score', but, thanks for letting me whine anyway. Any suggestions appreciated.

If you have any Consumer Credit Counseling offices in your area I can recommend them. They helped us out a bind when my dh lost his business years ago. They work with the cc companies to reduce your interest so you can actually get somewhere.

Good luck. I know how frustrated you must be.

I wouldn't pay credit counselors for information that's readily free on the internet/public library. I'm going to PM you with a reputable credit repair website. I encourage you to take the time and read all of the material in the credit forum. Regarding your credit card debt, what is your FICO score? If you have a good score you always snowball your debt by placing all or part of the balance on zero or low interest credit card. Accelerated payments going torwards your mortage is good thing, towards credit card and/other unsecured debt is NOT a good thing.

Please check your PM inbox

MRSB - Thanks much for the info. There are a couple of local Consumer Credit Counseling offices that I'll check out.

Gia - Got your message and will definitely check that out first.

Thanks again!

CCC doesn't charge you. They get their money from the creditors. After all, they are helping them too. By helping you out of debt,they are insuring that you don't declare bankruptcy,which also helps the creditors!

There are the free ones in addition to ones that actually charge for services. I encourage people to know their consumer debt rights before engaging any of these free or paid services. In additon I would not trust anything funded by creditors, especially with recent changes in bankruptcy laws. There's way too much at stake for these outfits to be objective. Also, information for getting out of debt can be obtained relatively easy through the internet and public library.

Sorry for sounding a bit cynical, but I believe everyone going through financial difficulties need to be enpowered with information. Yes, I've been there, done that. I've been through chapter 7, IRS issues, etc before the laws changed and it was NO picnic.

Good luck with whatever you decide.

Gia - I tried to register for the forums on the site you recommended, but they don't accept the free e-mail address, which I thought was, um, interesting to say the least. I have a Yahoo address, so couldn't register. Guess I'll just have to brouse their links, etc.

I know I'm not alone in the leaky financial boat, but it just gets worrisome.

Thanks!

Consumer Credit Counseling is a non-profit organization funded by United Way. They have been around as well over 25 years. I have been under them since 2002. My only out of pocket expense was $20.00 to sign up. My credit card debt was $19,000. I was a charge addict. They contacted all of my creditors and proposed payment amounts. I was paying out $480.00 per month and CCCS had my payment lowered to $300.00 along with lower finance charges, no late fees or over the limit charges would go onto my account. I am not only down to 2 accounts (I started with 15), but my balance is now $800.00. That's it! I will be totally out of debt in 3 months. It took me 4 years, but I guarantee that without CCCS, I would be still be in debt up to my eyeballs. As part of my proposals with each creditors, my accounts had to be closed. That was fine with me. It has taught me that cash is better than credit anyday. It makes me spend less. When you have to use your money, you think twice about spending.

I would recommend CCCS to anyone if you have one in your area and are trying to get out of debt. Yes you can do it on your own, but I didn't have what it takes to do that. I needed help and I am so thankful I sought it.


Patrice

Thanks for that,Patrice! My experience was over 15 years ago and I really don't remember much,except that they were a big help! I don't think I could have done it without them either.

Wow, Patrice! Congratulations! What a success story you are! Gives me hope.

Vicki - Thanks for the additional info. I'll check it out. I called the BBB the other day about the local CCC and they had a good rating, no complaints in the last 36 month reporting period, and have been in business since about 1972 or something like that. This sounds promising.

Thanks sooooo much for all the information!

I stand corrected even though I remain the resident rebel here !

Hey, I guess financial cures are like menopause cures, gather all the information you can and experiment! What works for one person, won't necessarily work for the next one.

Maybe the answer is to start buying lottery tickets!

Good luck with the credit situation. Although I have never had debt (I was always too afraid to buy anything on credit due to my chaotic childhood financial situation), there have been many times I've worried over finances. Like now! My husband was notified of his department being sent out of the country and he'll be looking for another job (he was an IT manager at a humongous corporation). So I'm sure I'll be worried for the near term.

Plus, the prices of things nowadays! I don't believe the low inflation rates they claim. I think things are astronaumical, like gas, for one example. And we'll have to get COBRA for medical coverage till he gets a job and that will be a small fortune. I honestly do not know how people making a more modest income can manage (well. . . soon we will be zero income, LOL).

But we just have to realize that we can overcome these things. We need faith in ourselves, which I'm really just learning to have.

Hang in there!

Thanks Des. So sorry to hear about your husband's position. COBRA. Yeesh. They really hose you, but you have to have coverage. Maybe look at other options with other insurance carriers. When I was laid off in 1995, it would have cost me $200 a month just for coverage for myself. I ended up going with Aetna and paid a lot less.

I know. This too shall pass, just seems overwhelming at times.

Take care!