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What to do when your debt is getting out of control?

Don’t panic! Do something about it! The problem won’t just go away.

Make a list of all your creditors, and then organize your debt by priority.

Always pay your Secure Debt first (Loans with collateral –Mortgage, Auto, etc.) – is that one that could have serious consequences if unpaid.

After you pay your Secured Debt, then pay your Unsecured Debt (Loans with no collateral – credit card, family, etc.) – are those which have less serious consequences if you don’t pay.

Get advice from a Credit Counselor; look for an agency that provides free Financial Education and Counseling. At Family Financial, we offer our One-on-One counseling sessions free of charge.

Allow a Credit Counselor to do a Financial Analysis to evaluate your financial situation. Not all debt is the same. Each family, home and individual is different.

Let a credit counselor review your budget to find out how much you can realistically afford to pay. Don’t forget to consider all the income and expenses for your household.
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Be open for feedback. Allow the credit counselor to give you advice about how to improve your spending habits. Accept recommendations to cut down on unnecessary expenses.

Know your options. A Credit Counselor may have programs you are not aware of; those program may make it easier to repay your debt.

If you decide to receive help from the Credit Counselor, they will be contacting each of your creditors to negotiate out a repayment plan. Work with the credit counselor to collect all information needed.

The best part of getting help from a Credit Counselor of Family Financial is that you don’t pay for the Counseling or the Financial Analysis and we have a variety of programs that can help you.

Find other greater goal setting financial tips on our web site, www.accesseducation.org
If you would like to talk to a counselor today! Give us a call at (877) 789-4206