This is a guest post from Kevin is the co-founder of DebtEye and the author of Debteye’s blog.
If you’re buried in credit card debt, it’s important not to make hasty decisions. Your decision can be based on fear and helplessness, and this can lead you to being worse off than you currently are today. Having a clear roadmap of how you’re going to get out of debt will help you think logically before you need to seek professional help.
As a credit counselor, I’ve been able to pinpoint some of the most common reasons why people get into debt. When you talk to a credit counselor, they will set you up on a Debt Management Plan (DMP) to lower your interest rate and payment. All your credit cards will be closed, and you will have a notation on your credit report stating that you’re in a credit counseling program.