Published in Debt Advice Features on Friday, June 03 2005

Did you know that the most frequent reason cited for the breakups of marriages is financial problems? It’s true. More than adultery, religious difference or difference in values, problems with managing money is most likely to doom a marriage. In addition to all the other reasons to get debt under control, it just might save your marriage as well.

Getting debt under control is easier said than done, of course. Reducing debt levels can be extremely difficult, especially because wages have been rising so slowly in recent years. Raises for most employees have barely kept pace with the cost of living, and in some cases, real wages have even fallen. Given these difficult economic circumstances, it is no wonder so many single people and married couples find it so difficult to pay their bills on time.

If you are having problems paying bills, however it is vital to get help before things get completely out of hand. Often the indebtedness is not your fault – a sudden emergency or medical problem can quickly allow bills to pile up to an unsustainable level. But no matter what the reason for the debt, it is important to seek the help of a qualified debt counselor as soon as possible. Often problems with mounting debt can be nipped in the bud and a reasonable payment plan can be established.

Establishing a payment plan the client can live with yet which still satisfies the creditors is at the heart of the debt reduction and debt counseling industry. Debt counselors are very skilled at working out very good repayment programs on behalf of their clients. Often the debt counselors can convince creditors to significantly lower interest rates, or even to accept a lesser payment on some debt. That is why the services of a qualified debt reduction service can be so important to any couple.

The debt reduction counselor will also take the time to speak to each spouse and understand what is important in terms of money. It is important that the couple agree on a single debt reduction strategy. It is also important that the couple sit down and plan a monthly budget that both spouses can agree on and stick to. Credit counseling and budgeting advice are two of the most valuable services offered by debt reduction companies, and it is vital that the couple agree on the best way to manage their money and control their spending.

The author of this content is Ryann Cairns who has been advising on Debt related issues for the past four years and has provided content for various sites across the globe. For further examples of his Debt Advice or help with Debt Consolidation check out his website.