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A Guide to Credit Debt Counseling Services Maryland
Everyone likes to think that they are prepared to handle their bills. But sometimes life throws us curve balls; an illness, job layoff or other unexpected bills can be enough to send us into spiral of not being able to pay our bills on time. I will offer you some warning signs to see if you are in the midst of a debt crisis and I will also tell you place to go in Maryland to help you solve this problem. Do you have a debt problem? Here are the warning signs. Your required monthly payments total 20% or more of your bring home income, and this before we include rent or mortgage. You are using your savings to pay daily expenses, or worse you have no savings. You are tapping your credit cards for cash advances to pay off the other creditors that you owe. You don’t know how much you owe. Arguments with your family that stems from the stress of owing money. Facing creditor lawsuits, repossessions or garnishment of your wages. There are self help resources available to you. Myvesta is a non-profit organization, that provides free online publications on various topics form learning to read your credit report to information on credit and debt cards. You may also order copies of these articles by calling 1-800-680-3328 ext. 143, or send your request to Publications, Myesta.org, PO Box 8587, Gaithersburg, MD 20898-8587. The printed version will cost you $5, while the online version is free. Myvesta also offers a weekly radio show called Money Help. Talk to a credit counseling service, they can help you control your debt more effectively. They should also teach you how to manage your money. In Maryland there are both nonprofit and for profit debt counseling agencies. Plus there are national organizations that can offer you advice. So when should you talk to them? If your total debt payments, which do not include your car and home, are between 25-50% of your bring home income. That is after taxes, so we are talking net pay not gross pay. If this is the case you should talk to a credit counselor as soon as possible. Luckily here in Maryland there are numerous counseling agencies. You can call the National Foundation fro Credit Counseling to get a complete list of services available in Maryland. The Maryland Division of Financial
Regulation is who regulates consumer credit counseling agencies.
They also provide a forum for consumer complaints to be resolved.
If you feel that a collector is breaking the law, first try to
talk with the supervisor of the collector. Then contact the Maryland
Attorney General’s Consumer
Protection Division or the American Collectors Association. If
they still persist you may file suit against the debt collector
for violating federal or Maryland Debt Collection laws. 
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