Are you burdened with more than $100,000 debt and thinking if it’s possible to get rid of it with a debt management program (DMP)? Of course, it’s possible.
Let me share with you the Hilderbrandt family’s success story of paying off their debt by consolidating all their payments into one under a debt management plan while changing their lifestyle.
Russell and Kathy Hildebrandt, along with their three children, were honored with the Professional Achievement and Counseling Excellence (PACE) 2009 Graduate Client of the Year Award by the National Foundation for Credit Counseling last week for their 5 years’ hard work and sacrifice to pay off their charge accounts and credit cards.
The Hilderbrandt family of New Richmond, Wisc., was in knee deep debt with personal loans and credit cards amounting to a staggering $106,000 in 2004.
How did they pay off their debt without signing up with any of the countless debt settlement companies that advertise on radio, television and the Internet? Well, they found a certified credit counselor by contacting NFCC to assist them with their debt.
Eliminating Unnecessary Spending. They paid off their debt the old fashioned way by drastically changing their lifestyle. They bought clothing at thrift stores, eliminated gifts, and purchased only generic and store brands at the grocery stores.
That’s not all. They also stopped eating out and often ate hash browns, which they got for free.
Getting a Second Job. Russell sacrificed his sleep for a couple of years by taking a second job. At first their debt didn’t seem to decrease much. But as they paid off one balance, they applied the monthly payment to another, until they paid it off.
Four years and four months later the Hildebrandt family’s debt was finally paid off and they even saved enough money to buy a house in New Richmond.
To avoid falling into the hands of a disreputable credit counseling agency, make sure you find a reputable credit counselor that is certified, is affiliated with NFCC, and charges little or nothing for the service.
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