I'm buried in credit card debt. I took out a loan to consolidate my debt, but my credit card bills went right up again. Can you help me?
"The key is to break the cycle of using credit cards and begin to bring your spending under control," said FPA member, Christine Parker, CFP®, president of Parker Financial, LLC. "It is very important to create a monthly budget within your income means and stick to it."
"You have already taken the important first step to reach out and ask for help," she said. "It may be hard at first, but with will and determination I believe you can achieve your goals."
If you would like to locate a trained, certified credit counselor, Parker suggests that you consider contacting The National Foundation for Credit Counseling (NFCC), a non-profit agency known as Consumer Credit Counseling Service (CCCS), which helps consumers understand the wise use of credit. Learn more at debtadvice.gov or call toll-free at 800.388.2227. If you seek a counselor, please read the Federal Trade Commission alert titled Advertisements Promising Debt Relief May Be Offering Bankruptcy. Learn more about repairing your credit.
Lastly, consider contacting a financial planner to help you organize your finances.