Ask Terry Questions Credit Counseling — buried in debt!

Credit Counseling — buried in debt!

By Terry Savage on May 07, 2017 | Credit/Debt

Hi Terry... My husband and I are a financial mess. We are both horrible money managers and have somewhat of a toxic relationship with money. Right now I need to file for bankruptcy, I have student loans that are in jeopardy of defaulting and my husband has a 20k IRS problem that followed him from his first marriage. There are financial issues that we are ignoring that we should be fixing. We are not broke but are in desperate need of money management. I am overwhelmed and have no idea where to start. Who can we go to for help? Is there someone I can hire to help me organize all this? There's no shame in my game, I know we're a mess, I just want to fix it so I'm not eating cat food when I'm 80. Thank you so much for your help!

Terry Says

I'm glad you wrote now!  First of all, I have bad news for you.  You have the only two types of debt that CANNOT BE ERASED BY BANKRUPTCY!!   Student loans and IRS debt are not erased in the bankruptcy process.   Here's what you need to do:  IMMEDIATELY contact the National Foundation for Credit Counseling at 800-388-2227.  That will automatically connect you to the nearest local office.  Make an appointment and go in for personal counseling right away.  You can trust them, and they will help you reorganize and deal with this debt.  Please do write back and let me know how the appointment went, and how you are changing your life.  Do not procrastinate!



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