I think all of us strive to be financially prudent, but not all of us know how to get there. As this article points out, avoid these six costly mistakes with your money.
For example, you might think you are doing good by getting one large loan to pay off your other loans through debt consolidation, but what you really have done is to accrue more debt to pay off your existing debt. There are fees associated with doing this, and in the end, you are still left with debt. Another mistake this article highlights is to struggle alone. Ignoring the problem does not make it better…in fact, it makes it much worse. You are incurring interest charges that are compounded on top of each other, and possibly hefty late fees when you miss a payment.
While this article suggests that you talk to a non-profit credit counselor, I respectfully disagree. Credit counselors are one-trick ponies. They typically only counsel one solution. An attorney, especially one that focuses on debt settlement, can advise you on ALL of your options. A debt settlement attorney can help you figure out how to reduce your debt, avoid costly debt consolidation, and deal with the issue…leaving you debt free in just a couple of years. If you are struggling with debt, you probably have committed at least one of the costly mistakes outlined in this article. If this is the case, don’t delay in contacting an experienced debt settlement attorney to help you avoid another costly mistake.