Are you worried about losing your home or your car? Many people face a financial crisis at some point in their lives.
Are your accounts being turned over to debt collectors?
You can find information about budgeting and money management techniques online, at your public library, and in bookstores.
Computer software programs can be useful tools for developing and maintaining a budget, balancing your checkbook, and creating plans to save money and pay down your debt.
If you’re struggling with significant credit card debt, and can’t work out a repayment plan with your creditors on your own, consider contacting a debt relief service like credit counseling or debt settlement.Contact your creditors immediately if you’re having trouble making ends meet.Tell them why it’s difficult for you, and try to work out a modified payment plan that reduces your payments to a more manageable level.Federal law dictates how and when a debt collector may contact you: not before 8 a.m., after 9 p.m., or while you’re at work if the collector knows that your employer doesn’t approve of the calls.Collectors may not harass you, lie, or use unfair practices when they try to collect a debt.The first step toward taking control of your financial situation is to do a realistic assessment of how much money you take in and how much money you spend. Then, list your "fixed" expenses — those that are the same each month — like mortgage payments or rent, car payments, and insurance premiums.