Getting Help with Debt in New York

How can I start to reduce my debt?

Do you have so much debt that you have to borrow to pay current bills? Do you regularly pay your bills late? Do you need to use credit to buy things like groceries? Are you being contacted by bill collectors? If this sounds familiar, you should probably get help from a credit counseling service.

If you owe hundreds or thousands of dollars to more than one company, you can get free help. Consumer Credit Counseling Service agencies are non-profits that work with you and your creditors to lower payments to a level that you can afford. In many cases, all of your bills can be paid with one monthly payment.

Here are some steps you can take right now to improve your situation.

• Stop spending money you don’t have. If you keep spending, you’ll dig yourself into a deeper hole. Think about your budget. If you don’t have one, now’s the time to make one.
• You don’t have to do it by yourself. If you’re behind in your payments and can’t pay your current bills, call a credit counseling agency right away. They’ll contact your creditors, explain your situation, and work out new arrangements. 
• Make the minimum payments, on time. Make the minimum payments on time, if you can’t pay the balance in full. Work with a credit counseling agency if you need help.
• Get help repaying your debt. Non-profit credit counseling agencies can really help you get back on track. Don’t use agencies that charge for their services and spend a lot of money on advertising. They usually charge very high fees.

Consumer Credit Counseling Service (CCCS) can help you contact your creditors and make a plan to get out of debt. CCCS has branches all over the country so you can get help in your area. CCCS programs are part of the National Foundation for Consumer Credit.