If you’re in debt, you could feel like you’re drowning and you don’t quite know what to do. It could also feel like you are all alone. However, that is never the case, and there are options if you need to get debt help. Many possible options are free, but if you need serious help, you could always pay a financial advisor or other counselor for advice.
Get a Partner
One of the first things you can do if you feel like you’re drowning in debt is to get a partner. This should be your spouse, but it could also be a close friend or family member. The most important thing to remember is that you shouldn’t go about dealing with your debts alone.
First, a partner will help you make more rational decisions, especially when it comes to difficult choices like selling assets or possibly letting things go into foreclosure or repossession.
Second, a partner can help you be accountable to your spending, saving, and debt repayment goals. Depending on why you are in debt, this can be especially value added, since a good friend could help you avoid shopping. A good friend can also be a person to lean on to share your feelings about the debt, and going through the process of getting out.
Get Professional Help
If you want to turn to professional help, you do have several options, both free and paid. Many cities, states, and even the federal government now offer free debt counseling to qualified individuals. Many of these programs will also help you negotiate with your lenders to modify your terms and help you pay off your debt faster.
You can also use a paid professional – either a paid debt counselor or a paid financial advisor. A debt counselor will help you with dealing with your creditors, and can help you put a plan into place to repay your debts.
A financial advisor could be beneficial to look at your overall financial picture and see what is right to do given your entire financial situation.
Article publié pour la première fois le 22/04/2012