Comments on: Debt Management Scares Me! SivieAnn Answered

By: Kevin@OutOfYourRut

Kevin@OutOfYourRut — Mon, 01 Feb 2010 19:18:04 +0000

It sounds as if she’s in a state of panic and maybe not in a position to make sound decisions. She probably needs the counseling of someone she trusts, someone who has some financial sense and could provide solid advice.

This isn’t often mentioned in regard to people with debt problems, but after all the suggestions offered have been implemented she may still have insufficient income to pay her debts and still survive, in which case she may need to find ways to earn more income. That’s where a trusted advisor could really make a difference, helping her to sort out the big picture. She shouldn’t be approaching this alone.

By: karyn

karyn — Mon, 01 Feb 2010 17:58:10 +0000

I would also suggest that she keep reading blogs like this one and/or get an “accountability partner”. Blogs like this help me stay focused and motivated. They are also useful for combating fear because you see you are not alone and you have support.

By: Lakita (PFJourney)

Lakita (PFJourney) — Mon, 01 Feb 2010 06:42:13 +0000

I would also recommend the National Foundation for Credit Counseling (NFCC.org). Unlike 3rd party debt/credit management companies, they are non for profit which can work in your favor.

Kita

By: Ann

Ann — Mon, 01 Feb 2010 00:10:52 +0000

Go to the library and check out books on personal finance and debt management. Read as many as you can & then get more books and read so more. Education is important.

Also check out PF blogs (such as DFA) for helpful hints & tips, inspirational stories of becoming debt-free, and also for moral support. The last one has been especially helpful for me, knowing that there are MANY other people that are in debt (for one reason or another) & are also working on becoming debt-free, like me. You are not alone!