Credit Card Debt Relief
One of our organization's primary missions is to assist consumers that have become enslaved by credit card debt. While there is no instant or painless way to eradicate debt, we sincerely hope that you will find the following resources beneficial. |
Specialized Debt Management Services
 If you need to maintain your credit rating and the use of some credit cards, "traditional" debt management will usually not work for you. Accelerated Debt Consolidation, Inc. offers Specialized Debt Management services for consumers that must maintain their credit (featured offer). You can click on this link to visit their web site and submit their free quote form or just call 1-800-810-5250 for a free consultation.
Quote from Mike Killian, CardRatings.com Credit/Debt Management Reporter, regarding Accelerated:
"For my last 5 years of writing at About.com, my articles gratuitously referred countless (perhaps thousands) of readers with a need to maintain credit to Accelerated for "Specialized" debt management. I highly recommend their services!"
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Non-Profit Credit Counseling Services:
 If you have tried every debt reduction technique possible, then a non-profit debt counseling service is often the best alternative. Such services have been helping consumers avoid the perils of bankruptcy for years. However, you must be very careful when considering credit counseling services see related paragraph below) since many services are not reputable and are only motivated by profit.
Consolidated Credit Counseling Services, Inc., a nationally recognized non-profit organization, offers a free debt analysis that only takes a few minutes to complete (featured offer). You can either complete their simple debt analysis form online or you can call their 800 number to do so. Consolidated Credit Counseling has a great reputation among consumer advocates and has been helping consumers throughout the nation get out of debt for over 10 years. They can reduce your interest rates by 50% and can give help restore your financial peace of mind.
Please Note! Please use caution when choosing a credit counseling service. Our two-part article series entitled Nonprofit Credit Counseling Agencies- Think Twice Before You Leap is a must read. According to an article written by Linda Stern that appeared in The South Florida Sun-Sentinel, many firms, including those that aggressively advertise on TV, charge excessive fees and get bonuses from credit card companies for every client referral. Such firms may be legally structured as nonprofits by taking advantage of legal loopholes but their business practices are highly suspect. Large amounts of money collected from their services end up in the pockets of their executives. Executive compensation includes salaries, bonuses, and real-estate deals. A reputable credit counseling service should not depend on fees for more than 60% to 80% of its income and should also rely on grants and charitable donations. It should charge a maximum of $25 in monthly client fees. Finally, a reputable service will also provide free counseling and may have up to half of its clients enrolled in counseling alone (instead of being enrolled in a debt repayment plan).
Consumer Credit Counseling Service (CCCS) (link to North Little Rock, Arkansas office) also offers some great resources related to consumer debt issues. We are proud to partner with our local CCCS office in North Little Rock, Arkansas, which is a member of the National Foundation for Credit Counseling. Similarly, Consumer Credit Counseling Service of Central Oklahoma helps consumers with budgeting, credit issues, and debt repayment. They offer counseling by phone, Internet or in person in Oklahoma. CCCS has many other offices throughout the country (consult your local Yellow Pages). |
Debt Tip! The only potential pitfall of a non profit debt counseling service is that using such a service may adversely affect your credit rating (please be sure to ask for a detailed explanation about how the service will affect your credit report). If your credit is already in bad shape, though, then this potential pitfall will likely have little affect on your overall credit rating. In fact, many consumers have relied on credit counseling services for years to "get their credit back on track". |
Other Debt Elimination Options:
If you are a homeowner, a home equity loan or home equity line of credit can be an excellent way to consolidate your credit card debt. Rates are currently at or near historical lows. Apply online via the above link. You usually qualify for a tax deduction (consult your tax advisor). A final benefit...home equity loans will not hurt your credit rating in the same way that a non-profit credit counseling service can. Free rate quote, no obligation. Also, several other loan options exist, including bill consolidation loans and student loan consolidations.
Debt Tip! Please be mindful that if you get a home equity loan, you are risking losing your home if you default on the home equity loan. For this reason, many consumer advocates are hesitant to recommend home equity loans.
Debt Tip! View our daily tips page for daily suggestions about how to become debt free! Includes unique way to reduce your expenses.
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Self-Help Books:
UltimateCredit.com (one of our partner sites) offers some great self-help books related to debt issues. The site is the brainchild of Gerri Detweiler. Detweiler has been helping Americans solve their credit problems for more than a decade. She is the author of The Ultimate Credit Handbook (Plume, 1993, revised 1997), which was featured in Money magazine as one of the five best new personal finance books of the year when released. She is also co-author of Slash Your Debt: Save Money & Secure Your Future (Financial Literacy Center, 1999), and Invest In Yourself: Six Secrets to a Rich Life (Wiley, October 1998), which was recommended in USA Today and Kiplinger's magazine. Also be sure to read Gerri's article containing credit card debt consolidation tips that was recently posted on our site.
Rich Dad's Advisors®: The ABC's of Getting Out of Debt: Trade Your Bad Debt for Good Debt and Your Bad Credit for Good Credit by Garrett Sutton, Esq.- Foreword by Robert T. Kiyosaki (author of Poor Dad Rich Dad, a New York Times Best Seller for 211 weeks). This is a brand new book from the author of the Rich Dad's Advisors books Own Your Own Corporation and How to Buy and Sell a Business comes a comprehensive guide to credit. Learn how to trade bad debt for good debt and maximize credit in this step-by-step guide. Get the details on the fastest ways to wipe out bad debt, as well as simple strategies to maximize one's credit rating. Whether trying to get out of debt, or making sure one's credit is in the best shape possible, readers will discover that this book can be worth thousands of dollars!
We are very proud that CardRatings.com is listed as a consumer resource in this book.
Also, consider reading Alexander Daskaloff's book entitled  Credit Card Debt (featured offer). In his book, Alex describes three easy steps to help consumers get out of debt. Only $5.99!
Debt Tip! Use our calculators to help you understand how interest rates affect your debt, whether you should consolidate your debts, etc.!
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Other Resources:
Stop Debt Collectors (featured offer) Say no to bill collectors: you have rights against debt collection harassment! This consumer friendly protection kit will show you how to stop harassment by debt collectors.
Self-Help Credit Card Debt Reduction Software Downloading this popular software program can help you slash your credit card debt. Use some of the same tools that professional credit counselors have at their disposal.
Debt Tip! Do you have a debt related inquiry that is not addressed on our site? Please post a message on our active message board. Our board has approx. 25,000 posts!
 Click here to subscribe to our RSS feed and get archived posts from our message board on a daily basis!
15 Signs you May Need Credit Counseling Self-help measures are great when your drowning in debt, but some consumers need outside help. If you recognize yourself here, it's time to call in a financial fitness expert.
Saving Advice Practical savings tips and free financial advice.
Debt Tip! You can determine what your credit rating and credit history is by visiting the credit information section of our site. This information can help you assess your current indebtedness.
Interactive Debt Quiz Do you suspect that you are having a problem handling your credit cards? This quiz will tell you for sure. Answer yes or no to each of the 10 questions, and then click ''Submit quiz'' at the bottom of the form. You will then receive a "debt score" and some helpful advice about debt reduction.
Debt Tip! Are you unable to make your credit card minimum payments each month? Being harassed by debt collectors? Well, rest assured, you are not alone. Click here to read a helpful article written by Certified Financial Planner Gary Foreman. |
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