If you're in serious debt, you need to find a counseling agency that is right for you who will advise you on the options available given your circumstances. A counselor will sit down with you and discuss all the elements of your debt, review all of your options, and help you figure out the best way for paying off your bills as quickly as possible and getting your finances back on track. If your counselor is unable to figure out a way for you to pay off debts by reducing your expenses, the counselor may recommend that you participate in a debt management plan. A debt management plan is a voluntary arrangement between you and your creditors, using the credit counseling agency as an intermediary. If the credit counseling agency advises you to pay off your debts through a debt management plan, the agency will explain how the plan works and review its pluses and minuses.
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