I consulted a debt counselor, and decided not to use their services. It probably wasn't the best decision, because if I had gone under their harsh program I would have learned a lot. But I have clinical depression, and I didn't think I could handle more restrictions in my life.
The program would have worked like this:
The counselor would have contacted my debtors and arranged lower payments and interest rates, fee waivers, and other concessions. She would have taken my cards and notified the companies not to issue new ones.
She would have gone over all my expenses and worked out a budget that allowed for no luxuries or treats. I would have been allowed to keep my internet service so I could hunt for a job, otherwise that would have gone, too.
Every month I would have given the service the amount needed to pay my bills, and theservice would have paid them. I would have been left with a small allowance for food and incidentals.
As soon as one debt was paid off that money would have been applied to another bill.
All raises, income tax refunds, or any other income would have to be turned over to the service.
In the end I couldn't face it and told myself I could manage on my own. Maybe that wasn't wise.
somethings you never know how it works unless you try.. :cool:
sigs
Rep Points: 510
thos guys were completely taking over your ways of spending , i would say they would have controlled you indirectly if you had enrolled for the program. i think you should look at more counselors and see if they can help you.
Hi Synthia,
Sometimes desperate times call for desperate measures. i think the benefit of having a debt counselor is kind of like having an athletic coach, they are doing this for the long term good. If you want to get out of debt as soon as possible, you would need to be doing the same things: applying as much of your income towards debt. Having a little left over for your basic needs is a good thing, it prevents you from overspending and making the debt problem worse, and also forces you to budget and be thrifty. You may develop some new good habits!
A medical condition in which I was unable to work really taught me how to not spend money on useless things, and the habit stuck and I'm thankful. Clip those coupons!!
But you will feel so good once the debt is gone. I'm serious. Since you are unsure your decision not to go with the debt counseling was the right one, maybe you'll give the debt counselor another shot?
I think a debt counselor is pointless. You know what you have to do, how you got to where you're at, etc. It's just a matter of following through.
