Ask The Get Out of Debt Experts

I Have Been Wanting to Do Something About My Debt. It’s Time. – Dang in Debt

Dang in Debt

“Dear Steve,

I have been wanting to do something with my debt for a few years and now am pushing myself even harder to get this taken care of. I about 4 credit cards I stopped paying on and have about $12000 i owe in collections plus I have my current bills that I am paying on. I have just under $16000 in total credit card debt plus a car payment. i want to pay back that debt I owe but most letters I get from the collection agencies say they will cut the debt down but want large payments that I cant afford

I have been lookin into debt consouling and managment and even bankruptcy. I am not sure which is right for me. I have thought about checking out some local debt/credit counsoling places that I ahve found online. I want to pay this off and get this part of my life over with. I want to be able to afford a house one day

Dang in Debt”

Dear Dang,

The first place to start would be to investigate a debt management program. You can click this debt management link to contact a debt management company.

After you talk to the debt management company, and they tell you what the payment is that the creditors want, I want you to think long and hard about it before you commit yourself to the debt management or credit counseling program. The reason, I don’t want you to get yourself in a position where the monthly payment they want os so unmanageable that you struggle to make it each month.

Additionally, you need to make sure that even with the monthly payment they want that you can still put money in savings. Even $50 a month in a regular savings account is a start. You need to save money at the same time that you are wiggling your way out of debt so that you’ve got access to some cash in cash of an emergency.

See also  How Do I Get Out of Debt Quickly? Change Your Mindset.

After you talk to the debt management or credit counseling company, if you are not sure what to do and have more questions, come back and contact me in the comments section of this question and we’ll look at what to do next.


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.

Leave a Comment

Scroll to Top