Advice For Those In Debt

In today’s credit driven world it is extremely difficult for a person to stay out of debt. Consumers are able to apply and purchase so many things quickly that they actually don’t realize the minimum payments and payoff balances that they are building up. By the time a person realizes their situation it is too late. A person just simply can’t overcome their debt by only making their minimum payments each month.

With the rising cost of gas prices and the declining economy more and more Americans are facing bankruptcies and foreclosures. Both of these options leave long term effects on a person’s credit report. There is another solution available that bills.com wants you to be aware of. More and more people are turning towards credit counseling as their solution.

Credit counseling has become so helpful that the federal government now requires candidates for bankruptcy to seek credit counseling first. However, by reviewing your financial situation, advising you about budgeting and helping to devise a plan to become debt free credit counseling is extremely beneficial long before a person reaches the point where they are looking at bankruptcy or foreclosure.

While credit counseling does appear on your credit report it doesn’t affect you credit score and is certainly better than bankruptcy or foreclosure.