Money & financial recovery~25 minFinancial counseling
Debts, credit and a way forward
List what you owe, sort out what comes first, and start rebuilding your credit — one step at a time.
Facing debt is one of the hardest parts of rebuilding, and avoiding it usually makes it worse. Listing debts, putting essentials first, calling creditors and getting free nonprofit help are the standard steps in credit counseling. You can check your credit reports free every week at AnnualCreditReport.com.
Don't type account numbers, card numbers, PINs or passwords here — rough amounts and names are all you need. Be wary of debt-settlement companies that charge big fees up front — a nonprofit credit counselor is usually a safer first call.
1. What I owe (who — roughly how much — minimum payment — status)
Phone company — $420 — $60 — 2 months behind
2. Debts that usually come first
Check any that apply
3. How I'll pay down the rest
Pick one
4. Creditors I'll call about a hardship or payment plan — and what I'll say
"I'm getting back on my feet and want to pay this. What payment plans do you offer?"
5. Credit and banking steps
Check any that apply
6. Who could help me with this (counselor, case manager, family member, credit counselor)
7. My first step, and when