Family equates to financial relief?

I make a good living, but the interest on my $25,000 debt is killing me. I’m struggling with debt. Anyone have any experience with debt consolidation through family means? I’m ready to start. Fearful of falling victim to fraud

I used a state credit card counseling program years ago to manage my credit card debt. They contacted my credit card companies to negotiate lower interest rates, reducing them from over 20% to around 8-10%. I made a single monthly payment that I could afford, which the program then distributed across all my cards. They focused on paying off the lowest balance or highest interest cards first, and once one card was paid off, the extra money went toward the next card until only one remained. The feeling of making that final payment was incredible. If you only have one or two cards, it might be worthwhile to negotiate rates and payment plans directly with your credit card companies instead of using a third party.
Part of the program agreement required me to close all my credit card accounts, except for one that I practically froze in a block of ice. I could only use cash or debit for payments. Make sure to thoroughly research any program before committing. For instance, the one I used provided a detailed breakdown of how payments were distributed and how extra funds were rolled over after an account was paid off. They didn’t take any portion of my payments for themselves.
Here’s a resource I found on my state’s website—maybe it will be useful:New Jersey Credit Counseling Resources.

This! I recently began working for Family Credit Management, a non-profit. They responded to my inquiries promptly, and I had heard positive things about them from others. Although I’m just getting started, it’s remarkably comparable. The interest rate was reduced to between 0% and 1.90%, and I was given the option to make a monthly payment or two installments.

Consolidating debt is statistically not a good idea. If I were you I’d take either the debt snowball or avalanche technique (whichever you like) and fight it that way.

Could you give further details?

Research has shown that the majority of people about 70% according to a recent study who use debt consolidation end up taking longer to pay off their debt compared to if they hadn’t enrolled in the program. Many also end up accumulating new debt shortly afterward.
The issue isn’t purely mathematical; it’s behavioral. The debt snowball method is designed to give you quick wins and help you build momentum as you pay down your debt. It focuses on paying off the smallest balances first, reinforcing positive behavior and progress quickly.
On the other hand, the debt avalanche method takes a mathematical approach by prioritizing the highest interest balances first to minimize the total amount paid over time. It’s more suitable for individuals with strong spending discipline who may have encountered unexpected financial setbacks.

Many people consolidate and feel like they’ve done something. They still have their head in the sand. They have all of their credit cards back, but they didn’t make any changes. They also receive interest back if they don’t pay it off. Is $25k enough for you before it ends? And can you go from living a lavish lifestyle to living nothing at all in an instant?

I had to set the shovel down since I’m closing mine. I obtained a job that pays twice as much as I did the previous year, which is why I have so much money. I took a year off from working full-time to attend trade school. while I pay it off using the DC scheme I’m looking at, I will actually have more spare income than I did while I was using them.

Spend less until your obligations are paid off and you have enough money saved for a six-month emergency. That could require some time. make sure you don’t lifestyle inflate. Many people do. I inflated my life too, but I was never in creditcard debt.

seek up debt counseling or management; do not seek up debt relief. It could be possible to arrange a personal loan with a cheaper interest rate or move the balance to credit cards with 0% APR.

Indeed, I nearly joined up with a really exploitative firm, but thankfully I read the fine print! I attempted to use the loan or transfer card, but after doing so a few times, I believe they realized something.