Debt Repayment

At the end of the day you need to realize that there is no quick fix once you have maxed out your credit cards. Debt consolidation isn’t always as good as it sounds.  The fee can be as much as 10% of the payment. (For example, $50 on a $500 monthly payment) or it could be up to 15% of your monthly payment ($75 on a $500 monthly payment!) Some of the debt consolidation plans take anywhere from 15 to 30 years to completely repay.  If you know you are not disciplined enough to deal with the causes of your spending, you are probably better off not consolidating your debt. Get professional help to manage your debts and repayments. Widows that have taken on too much debt often go into denial; they’d rather not know how much they owe. Consumer credit counseling will allow you to enter into a debt management plan with your creditors. There’s a possibility to reduce your monthly payments, but you’ll still be able to pay your balance in full. As long as your payments continue to be made on time each month, consumer credit counseling does not hurt your credit. For more information and links to resources go to:  https://sisterhoodofwidows.com/widowed-insurance-and-finance/