Yahoo! Answers*

Question:

credit counseling?

Has anyone gone through consumer credit counseling? Does it really work? Is there a fee? I think I am in troble.

Answers:

1) Credit counseling is a ripoff that targets desperate folks like you. You can fix your debt problem by yourself (for free). Start by shredding your credit cards and paying cash for everything. Get on a strict, written budget and spend less money than you earn.

2) I am currently enrolled with CreditGuard of America. They are a non profit group but they do have to a charge a small fee to operate. The cost of this fee is nothing compared to what they have saved me on my monthly bills. I will be honest with you. I know my credit took a bit of a hit for doing this but I don't intend to use credit for awhile so that's okay for me. They have been able to reduce my intrest rates incredibly and cut out all of my outrageous fees. Be sure to listen to everything they tell you, read everything they send you, and follow all instructions they give you if you do decide to do it. If you want help be committed to helping yourself as well! It will take time! For my debt, if I only make my minimum payments it will take 5 years. Of course, I pay as much extra as I can. This program has really helped me when my life got turned upside down. It's not for everyone but it's worth a phone call and a little research to see if it's right for you!

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