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Is a Debt Consolidation Program Right For Me? – David

“Dear Steve,

I have about $28K in CC debt and am starting to get behind. I want to make this better. i am lucky to have a job but it doesn’t pay enough.

Is a debt consolidation program right for me?

David”

Dear David,

A debt management program might be right for you. It really all depends on your situation. Here is when I think a debt management program makes sense:

  1. When you are behind and being hit with past due amounts, fees and penalties but you can afford the original regular monthly payment amount.
  2. If you are falling behind and want to see what debt consolidation might be able to do for you. It is always worth checking out.
  3. If you are really in trouble but not mentally prepared for bankruptcy yet then going into a debt consolidation plan can be good. It won’t fix the problem but it will show you what creditors are willing to do to help you avoid bankruptcy. If they are not willing to do enough, well then, they’ve helped you to determine that bankruptcy is right for you.

If you want to explore debt consolidation or debt management solutions then click here for debt management information.

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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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