Credit counselors offer practical, proven tips

06.21.09
By Lewis Green

When credit card debt, home loan payments and college expenses become overwhelming, some Americans are finding themselves on a path to losing their home or filing for bankruptcy.

But before reaching a dead end, some individuals are seeking help from credit counselors and learning tips and tricks that are helping them get back on the road to responsible debt management.

In fact, the Consumer Credit Counseling Service of Greater Atlanta says that there are easy ways to make small dents in everyday expenses and then see big rewards. The group offers help from certified housing counselors to individuals faced with the possibility of losing their homes.

"We help consumers create a lean, sustainable budget that will support the family's housing costs," said Michelle Jones, senior vice president of counseling for the group.

"Increasing the income available to apply to your mortgage will enhance your chances of being approved for a loan modification," Jones explained. "It will also increase the likelihood that you will be able to stay current on your payments and fulfill your responsibility to the lender."

The group suggests families avoid buying all new products when in need of something. Consignment stores are a great option where you can typically find near-new or barely worn clothes.

Also, make some smart decisions when it comes to dining out, says the group. It's fine to head out to dinner with the family for a break, but try an option where kids eat for free or at a discount to save some money.

As with anything dealing with the financial crisis and services offering to help with debt management - ensure you are working with a reputable firm. The Federal Trade Commission and the Department of Justice both offer consumers a number of questions to ask and lists of approved counselors in certain regions.

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