Debt Counseling - How to Bring Financial Happiness Back to Your Life

1. Wish to know how? Pay what you owe then spend less than you earn. It's basic - however it's hard. As a wise sage stated, do not let your outflow surpass your income or you will remain in difficulty. That's the bottom line. Just how much you owe, and what kind of financial obligation it is, will identify the financial obligation control approach you use. Are you in arrears on your mortgage or maxed out on your credit cards? Select from amongst the many certified professionals that can provide you the recommendations and assist you require. But if your financial obligations are 'affordable' and manageable - and you are serious about getting them paid off and your lives back under control - I have problem. There is no "quick fix". It will require time, determination, discipline. It will injure. But it will be worth it. 10 years back, I owed what (for me) was a great deal of money (about $5000). It was a mix of overspending, veterinary costs for my feline, home appliances breaking down and needing to be changed plus recurring revolving credit card debt. I had actually already secured - and settled - two debt combination loans in years past, so I chose it might be time for more drastic steps. I made a consultation with among those financial obligation counseling services (you see the ads all the time). I understood they negotiated with creditors to bring down the quantity of one's debt by means of workable regular monthly payments. It sounded excellent to me. I did my research. I brought copies of all my credit card statements, utility bills and pay stubs. And I wrote out a detailed budget plan - income and all my expenditures. My debt counselor and I took a seat to evaluate the material and choose a strategy. He was an enjoyable, non- judgmental person. He asked a great deal of questions and clarified some items in my spending plan, making notes as we talked. Then he sat for a few minutes, reading his notes, looking over my documents. I waited hopefully. Lastly, he put down the papers and his pen, sat back in his chair, looked me in the eye and stated, "I can't help you." OK, that's not what he said. At least, not that way. He discussed the process to me, and how the services of his organization worked. Yes, he could lower my debts and established lower monthly payments. However, there was a downside, he cautioned. My credit history would be impacted when this action went on my file and it could trigger some problems for me in the future. In your case, he said, I would recommend that you simply pay off your debts on your own. It will take longer but it will not damage your credit score. As long as you keep making regular monthly payments, the credit bureaus do not punish you no matter for how long it takes you to pay for whatever. He even more pointed out that my spending plan was "very affordable" and that my way of life was "rather prudent". I did not have a vehicle and related costs. I didn't smoke or consume much; I rarely dined out or spent much on entertainment. He thought that, if I took care, I might settle all my financial obligations, on my own, within 3 years. By this time in my life, I was a Christian. I wished to live the method the Bible taught was right. That consisted of "great stewardship" of everything the Lord delegated to me - work, financial resources, belongings, relationships, time and skills. So I dedicated to "doing it the hard way" and trusting God to assist me.

2. And he did. Two years later on, all my debts were paid completely. I was tithing (providing 10% of my income to my church) as well as providing to other worthy causes. I had a new task and was making great cash. And I kept doing the ideal things -earning, providing, costs and conserving - in the ideal balance. One year earlier, God blessed me once again with my first home. And he did it during the worst economic recession in years. If you are faithful with a little, God will trust you with more (another scriptural principle). What did I find out? Doing the right thing pays off. God blesses individuals who honor him and live according to his principles. If it takes years to enter into a mess, it can take years to get out of it. The service? Do not enter into the mess - stay balanced. Do not home mortgage tomorrow to spend for today (i.e., don't buy on credit unless you can pay it off immediately and just if you really require it; if not, save and wait). As my preferred Bible teacher Joyce Meyer says, drive by a junkyard sometime and take a look at all the scrap bankruptcy help legit that was as soon as somebody's treasure. Whatever winds up in the trash ultimately, so be sensible and cautious what you spend your time, energy and resources on. Store up treasure in heaven, where moth and rust will not damage it, the Bible states. Love people. Do what you can to help them. Be a generous giver. Reside on less so you can provide more. Above all, stay well balanced. Trust God to help you, and keep in mind the principle of sowing and reaping. What you provide is what you get. And the 'principle' Do unto others as you would want them to do unto you. Plus a similar one is 'enjoy your neighbor as you enjoy yourself'. Getting - and remaining - out of debt is an excellent way to enjoy yourself. You will sleep better. You will worry less. And you will have the ability to assist individuals in need, whether loved ones or others in need. After all ... you can't take it with you!