Do I Qualify?There is no specific amount of debt that you must have, whether it is $5,000 or $50,000 in order to qualify for credit counseling.

No matter what your income, if your expenses exceed your take home pay, and your credit lines are running up, it is time to put together a solid budget and debt reduction plan with a credit counselor.

You do not have to be several months behind on your payments in order to seek the advice of a credit counselor. Get your financial house in order before suffering the damaging effects of late payments.

Unlike a Home Equity Loan, a Credit Counseling Program does not require home ownership, nor does it secure your debts with property. Borrowing against your home without changing your spending habits is a common mistake that people make. The results can be disastrous, and may ultimately threaten your home ownership. Seek the advice of a credit counselor before turning unsecured debts into secured ones.

If you are considering filing for bankruptcy, you should review your options with a credit counselor first. A debt management program may produce an affordable payment, and reduce your interest rates to a level that will allow you to repay all of your debts in a reasonable time frame, all while avoiding the detrimental effects and the stigma that goes along with filing bankruptcy.