Debt counseling is simply smart, why? These days, a lot of people are in debt and credit card trouble. At some point we have all spent more than we can handle and are playing the credit card bill game; whereby using one credit card to pay the monthly minimum balance on other credit cards. We have all done this at least once. This can quickly turn into an extremely painful financial disaster. There are some things that we can’t avoid in order to get into this kind of trouble such as when faced with medical costs or other high end problems, but the end result is still the same, and the stress can be overwhelming.

There are a lot of companies that you can find online that are offering debt counseling, especially those will help you to get loans that are based on equity in a home. While this process may help some people out, using home equity for such a purpose can leave the family with little or no equity in their largest asset and, if they do not or cannot change their spending habits, it may mean that the situation will only get worse. Debt counseling is a great idea for managing your funds better.

If you find yourself in this position, you may have a way to deal with your problem without getting more and more into debt. Your counselors will have you start by looking at your credit card balances. If you have a balance available on a low-interest card, you can try to transfer the balances from other cards and concentrate on paying as much as you can on that low interest card each month rather than paying the higher interest cards. This is just some of the advice they will give you.

The debt counseling service will also tell you not to get any more credit cards unless you are offered one with a high limit and a very low interest rate that accepts balance transfers as well; remember this is how you got into this mess in the first place. If you have a credit card or two with relatively low balances, make the largest payments you can toward these each month to clear them out of the way a bit quicker. The reason for this is because every time you eliminate a monthly payment, it means you can make a larger payment on another card. In the end that is how your debt will disappear.

If you can’t do anything else and you own a home, you will still have the option of getting a credit card consolidation loan. You can of course, use your home as collateral. Just be sure that this is done as a last resort because this is the one asset that you will need for a larger reason than credit cards. You will also want to avoid using your credit cards until they are paid off. When they are, cut up all but one so that you don’t repeat the mistake again.

Need more information or help? Why not contact one of our Christian counselors using the form on the right for some free debt counseling & advice. They will help you to get debt free and lower your payments today without having to risk your home.