Ask The Get Out of Debt Experts Credit Counseling

I’m Nervous About Credit Counseling. – Jack

“Dear Steve,

Have run up a lot of credit card debt – about $45,000. About to enter credit counseling, a little nervous about it. Our income is such that we make more than we spend, which is good.

Nervous about credit counseling, but did all my due diligence before hand. Desperately don’t want to file bankruptcy ever. How can I get out of debt fast? Or even faster?


Dear Jack,

You have every right to be nervous about any debt solution. These are uncertain and scary times for you. A part of life where you have no experience so these issues are nerve wracking and emotional.

But the wrong way to make a decision here would be based on how you think it will make you feel. You don’t need to go bankrupt but you also can’t make a fully informed decision unless you check out all your options. I invite you to click here to find a local bankruptcy attorney and speak with them as well as the credit counseling group.

Getting out of debt with credit counseling can be advantageous to some people. The people who do best with a debt management plan are those that can easily afford the minimum payments on their credit cards but need some interest reductions so they get out of debt faster. But credit counseling programs have consequences as well.

Most importantly, the credit cards you include in a credit counseling program will be closed and it will take about five years to pay your way out of debt.

In comparison, if you are eligible for a Chapter 7 bankruptcy, as 75% of bankruptcy filers are, you would be out of debt in months, your cards would be closed and you could then focus on rebuilding your credit.

Ultimately the decision about which program to go with here is going to come down to the underlying reasons that led you into debt, if those situations have been corrected and if you are currently able to save money in an emergency fund to protect yourself in case of an economic surprise.

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Please update me on your progress by posting updates here in the comments section of your question. I’m very interested in how this works out for you.


You are not alone. I'm here to help. There is no need to suffer in silence. We can get through this. Tomorrow can be better than today. Don't give up.

About the author

Steve Rhode

Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.

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