Whether you’re looking to rebuild your credit score having already paid off a significant level of debt, or you’re struggling with debts currently, you have numerous options available to help you deal with your credit problems. There might not be one solution best for you; it may be you need to look at a number of the ideas we’ll now discuss to resolve your credit problems. As long as you are realistic about dealing with your credit problems and are committed to doing so, you will be able to secure the help you need.

What are the options available to you?

Speaking to Family & Friends

The best help doesn’t always have to come from a professional organisation or a qualified adviser. Sometimes, opening up to a family member or friend can make a big difference. Having this conversation may help you to come to terms with needing to deal with your credit problems, as well as help you understand that there are solutions and that having issues with credit or debt isn’t a black hole from which you will never escape.

Those closest to you will also be likely to want to assist you in planning how to pay off any existing debts, repairing your credit score and history, and ultimately escaping the debt cycle.

“The best help doesn’t always have to come from a professional organisation or a qualified adviser. Sometimes, opening up to a family member or friend can make a big difference.”

Using Credit Counsellors

If you feel like you need to speak with an expert then a credit counsellor is an excellent resource that you may be able to take advantage of. Whether you find an individual credit counsellor or go through a credit counselling agency, you will find objective assistance that will help clear the path to a brighter financial future.

Some of the benefits of using a credit counsellor include:

  • Having an external, non-judgmental individual assessing your finances and credit from their professional perspective.
  • Receiving credit education that will help you in future.
  • Receiving a specific debt management and/or credit repair plan tailored to your circumstances, as well as a budget based on what you earn and spend each month.
  • Services are usually free.

A credit counsellor can be a massive help, and they’ll usually do all the things you need to do but might not know where to start, including:

  • Working out your actual debt figure.
  • Calculating your income and expenses.
  • Identifying where savings can potentially be made and creating a budget.

While we’ve cited a credit counsellor as a useful solution for dealing with credit problems, they themselves will offer you a range of solutions and help to make the way forward much clearer.

Speak Directly to Creditors

Speaking to creditors can be daunting, particularly so if you’ve already fallen behind with any payments or you feel nervous about calling them up to tell them you’re going to struggle to make the next one. Although understandable, such fears are often unfounded as people usually find, to their welcome surprise, that creditors are understanding to the problems they face and are willing to be as flexible as possible to work out a solution.

It is better for the creditor to be able to work with you to ensure you repay your money, even if it takes a little longer than it may have done originally. If you do feel uncomfortable about doing this you can work with a debt management company or charity who will deal with creditors on your behalf.

Using Online Resources

If you’re at a point with your debts and credit profile that you feel you can deal with debt repayments and credit repair yourself, but that you would benefit from having access to additional information and advice, you should find a selection of online resources that you enjoy reading and find useful that you can revisit when you need to. The NOW FINANCE blog is regularly updated with a selection of handy tips for financial management, while there are several other excellent online resources available.

By combining these options for managing your credit problems you will quickly identify a pathway to a brighter financial future.


Disclaimer:  This article contains general comments and recommendations only. This article has been prepared without taking account of your objectives, financial situation or needs. Before taking any action, you should consider the appropriateness of the comments made in the article, having regard to your objectives, financial situation and needs. If this article relates to the acquisition, or possible acquisition, of a particular credit product you should obtain and consider the relevant disclosure documents before applying for the product.

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