If you carry any debt at all, then chances are you have noticed hundreds of advertisements for different debt reduction programs.  Of course, most of these advertisements seem too good to be true and they often contain contradicting information.

Unfortunately, most of the advertisements usually are too good to be true.  Still, if you need debt reduction help, there are legitimate ways to get the help you need.  Let’s take a look at a few of your options to reduce debt, along with the pros and cons of each.

Debt Management Plans

A debt management plan is one form of debt reduction plan that is available through a credit counseling agency.  This can be a good option for you if you have very high interest rates or are having trouble paying much more than the minimum payments on your credit cards.  If you have fallen behind and have late fees or over limit fees, a debt management plan or DMP may be even more helpful. (more…)

Hundreds of thousands of people around the world struggle with credit card debt and are trying to find a path to become debt free.  While some have the ability to pay off debt on their own, many others understandably need a little bit of help.  According to personal finance “expert” Dave Ramsey, people who seek debt reduction help are wrong and lazy!

When I first read Ramsey’s comments, I was furious.  In my opinion, his remarks were offensive, belittling, and even ignorant.  Ramsey’s commentary likely discourages many people who do need help from ever seeking it, perhaps causing many to give up and continue living the debt trap. (more…)

For those of you looking to get credit card relief, you’ve come to the right place.  Today, we are pointing you to several resources around the web that can help you on your journey to get relief from your debt.  Have a look at these, and of course be sure to look around the entire site here as it is your number one source for getting out of debt!

Over at the Digerati Life, a great guest post talks about getting a financial education when you did not receive one in school or when you were younger.  This brings up a very interesting point, as almost no one receives the financial education they need while growing up.  Maybe that’s why the economy is where it is today…

At Get Rich Slowly, the writers continue to pump out great articles on personal finance and debt.  Check out this article about how to use money as a tool.  This will help you get a new perspective on how money can help you rather than being spent and thrown away frivolously. (more…)

If you are carrying credit card balances and other unsecured debt, one possible solution to reduce debt is consolidation.  But you might not realize that you can consolidate your credit cards and other debt with several different methods.

Another important thing to realize is that the best option for someone else may not be best for you.  This can all be incredibly confusing, so today I am going to try to break down your debt consolidation options and outline the pros and cons of each.

Your own financial situation will determine what options you have available.  If you have very good credit, the first few options may be possible for you.  If your credit needs a lot of work, check out the options towards the end of the article to see how you may be able to consolidate your credit cards. (more…)

The biggest problem for many people who find themselves hoping to reduce debt is often simply getting started.  It’s all too easy to look at the amount of debt you are in and be overwhelmed!  What you need is a debt reduction plan that will work for you.

The problem with most debt reduction companies and services is that they want to give everyone one the exact same program: the one that they are selling.  Instead of helping you find the right plan for you, they try to convince you to enroll in their service whether it helps you or not.  In some cases, it may even get you further into debt trouble! (more…)