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Self Guided is as it says. You take on the responsibility of contact and negotiations with your creditors without aid of a 3rd party. Many “credit counselling” and “debt management services” act as an intermediary between you and your creditors, but fail to protect or shield you from any sort of legal action that can be taken against you by a disgruntalled or dissatisfied creditor. What you are doing on a Self Guided approach is “eliminating the middle man”. This process is highly effective but not for the timid. Initation into this process means that you must become completely familiar with your debts and all the details around them. Namely how you came to have the debt in the first place and how you will with coaching take control. You will have to ensure that you have an Expence Plan in place, you will have to muster some courage and conviction to solve your own problems, and humility and mindfulness of the situation is highly advised. You can do it if you so choose to. Give it some thoughts and feel free to contact me for future assistance.

Thats a very good guestion and one easily answered. A Formal debt consolidation (Chapter 13) has been known to have a profound effect on an individuals credit score. When you use the (Big guns) to make repayment arrangments it is usally seen by the credit bureaus as a last ditch effort.
However, many individuals opt to use an “informal” method whereby you place all of your debts in one place and have an Intermediary Service administer them to your creditors under an agreed arrangement between you and them. The Credit Score can again be effected however usually not as much as the formal arrangement Again, however, with some coaching and a business plan individuals can negotiate with creditors themselves and save a bundle in service fees and potential aggrevation. The credit score is usually unaffected because the whole deal is kept between creditor and individual and the creditors is not placed in a position to directly enter or effect your scores. Please feel free to contact me further to find out more information on an self directed informal repayment plan.

Many folks suffer the pains and agony of having at some point in time too many bills and not enough money to pay them. Well, maybe its not the value of the bills it is the sheer numbers of them to pay. Various terms, interest rates and payment due dates over time almost certainly drain even the most frugal purchaser when they pile up. This condition can be usually remedied by using “hidden value” in your assets and turning such value into a cash equity situation to pay out bills. The success rate and peace of mind from performing such a financial maneauver can be profound. If you feel you can or would like to gain further guidence and information please leave me a posting.