Do you wonder why it is taking so long to pay off your debts? Debt counselling aims at increasing your cash flow so that you can afford the monthly debt repayments and make ends meet. This means that your debts will take longer to repay as you are paying them off slowly. You can always increase the monthly installment when your financial circumstances improve. In general, it is good to pay debts as fast as possible but remember, only increase the monthly installments once you are sure you can keep paying the higher installment so that your creditors don’t see the installments changing monthly and get worried about your ability to repay the debt.
Written by Stephen Logan, Independent Consumer Attorney