Credit Counseling Client Profile

For telecommunications specialist Bill D. of Seattle, Washington, getting out of debt meant that he can now pursue his dream of becoming a writer. In 2001, that dream didn't look possible. Bill was swimming in $18,000 of credit card debt. But after credit counseling with one of our Consumer Credit Counseling Service (CCCS) specialists, he followed a debt management plan that put him back in control of his financial situation.

"Being deep in debt is a terrible feeling, every day, all day."

"I didn't want to answer the phone or open mail," Bill remembers. His form of debt management was to borrow money from one card to pay off another. The rising interest, penalties and late fees were mounting. And because Bill didn't understand the complicated payment schedules, his payments weren't lowering his balances the way he thought they were. "I felt cornered," he says. "I knew I was in trouble."

"It was clear I would get help from CCCS."

Bill admits that for five years he wasn't paying much attention to his growing debt. "I never developed the healthy financial habits that would have taught me to manage my money." He juggled balances and lived on credit for five years before it finally hit him that his debt was out of control. That's when a friend suggested he contact a debt management company.

He interviewed several and found our credit counselors were the most helpful and understanding. "From the first conversation, it was clear that this company cared about my situation and would teach me how to resolve my debt management problems," he says. Bill's credit counselor set up a payment program, and helped create a financial spreadsheet so that Bill could stay on track.

"There's a light at the end of tunnel."

After four years, Bill has one more year on his payment plan, but is working to pay off his balances early and finally rid himself of debt. Though he hasn't built up much savings yet, he knows that will come quickly once he isn't making monthly credit card payments. His credit counselor has taught him how to save his money and manage it wisely in the future.

And, he's answering his phone again. "It's a great, liberating feeling. I'm back in control."