Paying off Credit Card Debt, Debt Counseling, Credit Monitoring/Status

29 votes

I'm asked often about debt counseling programs by people who are swamped with credit card debt. It's not something I know anything about and I'm not inclined to start recommending services aside from starting with bbb reviews however I'd love to have a one pager I can pass along with some basics on how people in these instances may start "digging out". For example should one start paying off balances with higher interest rates always or are there some instances when paying off smaller balances first to start making some psychological progress makes sense? People with loads of debt wouldn't necessarily be attractive clients but I'd love to have something to help them.

Under consideration Suggested by: doug (27 Feb, '19) • Upvoted: 22 Sep • Comments: 14

Comments: 14

19 Sep, '19
Whitey Holt Merged
A checklist for helping client keep their credit information safe would be helpful. Items like freezing credit, reviewing a credit report, etc.
19 Feb, '21
Mike Admin Merged
"Improving Your Credit Score" (suggested by Shannon Moenkhaus on 2021-01-31), including upvotes (3) and comments (0), was merged into this suggestion.
19 Jun, '21
Shannon Moenkhaus Merged
Yes! Setting up social security online account etc. Also what are the consideration for managing going forward. What is the process to unfreeze and when woudl that be required other than the obvious when applying for a loan...
09 Jun, '22
ChrisGranger Admin
"Debt Snowball vs Debt Avalanche" (suggested by Kenny Senour on 2021-10-14), including upvotes (2) and comments (0), was merged into this suggestion. Number of votes from this suggestion prior to merge = 2.
15 Jun, '22
ChrisGranger Admin Merged
"Should I freeze my credit?" (suggested by Mark Wilson on 2021-05-23), including upvotes (2) and comments (1), was merged into this suggestion. Original language from this merged suggestion: "What should one consider before freezing their credit?"
10 Nov, '22
Cecil Merged
Understanding and raising your credit Score
02 Aug, '23
Ed Merged
This would be a very helpful resource for many of my clients as they are early in their wealth-building journey or working to repair their credit.
11 Oct, '23
Jen Nielsen Merged
Most bang for buck when rebuilding or maintaining credit score
09 Nov, '23
Vicki Ward Merged
Clients want to know the steps to freeze their credit I advise them to also make sure your credit report is clean and accurate - use annualcreditreport.com to monitor credit reports
09 Nov, '23
Vicki Ward Merged
Clients want to know the steps to freeze their credit. I advise them to also make sure their credit report is clean and accurate - use annualcreditreport.com to monitor credit reports
13 Jan
ChrisGranger Admin
"Credit Monitoring/Status" (suggested by <Hidden> on 2019-09-19), including upvotes (11) and comments (4), was merged into this suggestion.
13 Jan
ChrisGranger Admin
"Credit Score" (suggested by <Hidden> on 2022-11-10), including upvotes (5) and comments (1), was merged into this suggestion.
13 Jan
ChrisGranger Admin
"How to freeze your credit" (suggested by <Hidden> on 2023-11-09), including upvotes (1) and comments (0), was merged into this suggestion.
13 Jan
ChrisGranger Admin
"How to build, maintain or rebuild credit score" (suggested by <Hidden> on 2023-10-11), including upvotes (1) and comments (0), was merged into this suggestion.