Some people do not really need monetary help or a reduction on their debt to successfully solve their problems. Sometimes, all they need is an expert advice on how to proceed with their intention to get out of debt.
Debt counseling is an effective debt relief option for people who want to live a debt free life. These are the people who are usually have enough in terms of monetary payments. And while paying off the debt is not a problem, they recognize that there is a deeper problem that has to be addressed – their spending habits.
In truth, your debt is caused by a lot of things – but most of them stem from a lot of bad decisions. Because of this, you should not only concentrate on paying off what you owe. You should also do something about the habits that got you into this debt situation in the first place.
For some people, bad spending is an addiction. Impulsive buying, shopping, and unnecessary spending are sometimes hard to curb because we got so used to it. Especially when you put credit cards in the picture, you will really find it hard to stop spending even if you can no longer afford it. This is why they need all the emotional and motivational support that they can get.
There is an organization known as Debtors Anonymous that acts as a support group – much like Alcoholics Anonymous. If you feel that this is something that you need, you can join this support group to help you through the difficult stages of debt relief. This is a non-profit organization. They charge no fee but they accept donations to help in the administrative costs.
The main benefit that you will get from Debtors Anonymous is help for your compulsive buying habits. They will not promise to cure it – as it all depends on you. However, they will help you control it.
They work in the same way as other support groups. You attend a meeting, listen to people talk about their own problems and when you feel up to it, you can talk about your own spending problems. Oftentimes, opening up and listening to other people with the same problems make your own troubles manageable.
The first 3 months of joining the group, you will be asked to track the money that you spend. Every detail has to be recorded. The debt experts and the other problematic members will support each other throughout the whole process. You will be paired with two members that will serve as your Pressure Relief Group or PRG. You will work closely with them to achieve the ultimate debt freedom. When in doubt, you can call your mentor to get their advice and counsel.
Whether you believe in this form of debt relief or not, the bottom line is to do something about your spending habits. Regardless of the debt relief option that you chose, whether it is bankruptcy, debt consolidation loans or debt settlement, you need the counsel provided by debt counseling. Paying your credit obligations is only one half of the equation to solve your financial problems. You need to make sure that you develop the habits that will help you stay out of debt for the rest of your life.