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View All Debt Management FAQs

Q: How many creditors do you work with?
A:
MMI is an industry leader with more than 50 years of credit counseling experience. We work with many unsecured creditors including major credit corporations, doctors, attorneys, finance corporations, and collection agencies.

A ‘yes’ to any of these questions is a sign that you need to take a good look at your total debt levels, spending habits, and plans for payoff. While a single red flag is not a sign of impending doom, it is an indication that you should take action to avoid future trouble. The following tips should help you regain control and overcome the burden of debt:

Create a budget. After allocating funds for ‘needs’, such as rent, food and bills, set aside an amount to go into savings each month. Then, set aside an amount that you can spend on ‘wants’, such as clothing and entertainment.

Assess your debt. Gather all of your statements and find out whom you owe, how much you owe, and what interest rates you are paying. Being informed will help you make a good plan for payoff.

Adjust your spending. Write down each purchase you make for two weeks. Then, take a good look at your list. There is a good chance little purchases are taking a big bite from your budget.

Communicate with your family. It is important that all members of your family understand your financial goals, and the changes that are going to be made, so they can fully support those changes.

Finally, learn from your mistakes. An emergency savings account can protect you from future setbacks. Practice your new habits each day to ensure that you are improving your financial standing rather than harming it.

 
Please fill out the form below.

 
  Is an increasing percentage of your income going towards paying down debts?  
     Yes  
     No  
  Is your savings cushion inadequate or nonexistent?  
     Yes  
     No  
  Are you near or at the limit of your lines of credit?  
     Yes  
     No  
  Can you only make the minimum payments on your revolving charge accounts?  
     Yes  
     No  
  Are you often late with bill payments?  
     Yes  
     No  
  Are you paying bills with money earmarked for something else?  
     Yes  
     No  
  Are you using credit to pay for items you used to buy with cash?  
     Yes  
     No  
  If you lost your job, would you be under immediate financial strain?  
     Yes  
     No  
  Are you unsure about how much you owe?  
     Yes  
     No  
  Are you being threatened by collectors with possible legal action?  
     Yes  
     No