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When it comes to owning debt that you cannot pay, you might be unsure the exact total that you owe; you might be unsure just how serious and dangerous your debt totals are. If you haven’t been paying your debts, there is a good chance that you just ignored all those collection calls and letters. If you have since changed your mind and realized all the benefits of seeking debt relief, scheduling an appointment with a credit card counselor should be one of the first things you do. Why?

Now, you will find that different credit counselors offer different types of services and share different types of tips. But, you can keep reading on to see a summary of what you might learn when incorporating credit counseling into your debt relief plan.

The Cause of Your Debts: One mistake that many individuals make is jumping right into a relief program. Both settlement and consolidation come highly rated and recommended, but they are designed to cure your debt. What was it that caused it? If you don’t take time to address the root of the problem, you can get out of debt but you might find yourself back in trouble just a few years down the road. A good credit card counselor will help you see the cause of your debt and work with you to ensure that so-called cause doesn’t cause anymore financial complications in the short-term or long-term.

The FDCPA is Uncle Sam’s consumer credit counseling manual available totally “for free” on the Internet. The manual will tell you what you “can do” and what debt collectors “cannot” do. There are two main points to memorize to become your own credit counselor. The first is “never give a debt collector any information over the phone” and accomplish that task by telling the collector to “communicate with me in writing only” and hang up the phone. The only way a collector can coerce money from you is by your “admission” that you actually owe him money and you do not!

Which debt relief procedure is best for you? Consolidation sounds nice because it gets all your bills rolled into one loan, but settlement can reduce the amount you owe. Each has their pros and cons and a credit card counselor or financial planner can help you review your debt relief options and help you decide which one is best for your own personal financial needs.

There are two other interesting things you may not have realized that you’ve learned. You’ll probably have enough knowledge to pass the “certification” test to become a consumer credit counselor if you like being nice to people and putting them into programs with a 90% failure rate. The second thing you will have learned is how to become a debt collector, that is if you enjoy being mean to people on the phone and harassing them constantly but as Forest Gump says “that’s all I got to say about that.” The important thing is that you know how to get out debt.

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