They said that they were underwater with their mortgage, owe thousands on their credit cards, and have hospital bills they can’t even imagine paying.
The more the couple told me, the more agitated and depressed the wife became. She said their whole life was ruined. She wanted someone to fix the situation now. It occurred to me that she couldn’t see the forest for the trees because she was so overwhelmed.
They had no idea where to begin and yet they had actually begun by coming to me. I had a visual in my mind of her trying to land on top of a mountain with a single leap. If she didn’t reach the top in that single leap, she would have failed.
For those of you in a similar situation, please try to take a deep breath and then move forward one step at a time. Huge debt makes one feel helpless. Creditors may be calling, you may have stress in your personal relationships, you may be embarrassed that everyone knows. They don’t, but it may feel that way.
Knowledge is power. Surf the web and learn. Call your creditors and see what options they may have to help. Many times they can place people in programs that lowers interest rates and monthly payments.
Call a Realtor® and ask questions. Find out what your home may be worth. You might think you owe more than your home is worth, but the market has recovered quite a bit and you might actually have equity in your home. A Realtor® won’t charge you to do a market analysis of your home’s value, they will ask questions, view your home, and create a market analysis so that they can provide you with information and tools to help you make decisions as to the next step to take.
Talk with a financial advisor and get credit counseling. Check out the FTC website for helpful tips on how to choose a credit counselor.
It doesn’t matter how you got where you are, what matters is that you take back control of your life and move forward. It’s harder to keep still than it is to move. Take one step at a time, not a giant leap for mankind. Just one step for you.