Credit card debt counseling is one of the more common ways to reduce your debt. Most counseling companies will, in exchange for a small donation conduct the negotiations with your card issuers for you. You make a single payment a month to the counseling agency and they distribute the individual payments. Credit counseling does affect your credit score but its effect is less detrimental to your credit than bankruptcy.

Most agencies will require that you contract to remain debt free while you work them. They will tell you from the first; their goal is to help you become debt free, not to clean up your mess so you can make a new one. Many agencies also require that you take credit management courses. There are multiple free courses on line.

Excessive credit card debt is a national epidemic. You are not the only person in this fix. In fact, many credit card debt counselors became counselors as they learned to manage their credit. They will be sympathetic to your problems.

If your credit card company has suggested that you seek credit counseling then you know you are in trouble. Take their advice. Find an accredited agency, preferably one associated with the Better Business Bureau. In fact, your credit card company may recommend one for you. Credit card counseling is the last option before bankruptcy. Filing for bankruptcy is difficult at best. You have to prove every penny of your income and every single debt. Beyond all that, you have to appear in court and your problems become public knowledge at that point.

Once you’ve entered into credit card counseling, your phone will stop ringing and you will have more of your money available to pay your other bills and maybe even put some aside for a rainy day. It will still take years to repair your credit rating but you will have better resources to work with.