I'm working on a debt management plan that will have me completely debt free in four years. I recommend it.
I have been carrying a credit card balance for several years, hoping for a miracle to get ahead on the payments. Just before the new legislation passed (and it became illegal), the credit card company upped my rate to 29.99%. I would never have gotten out of debt with all that interest.
It was a difficult thing to look at because I had a lot of shame attached to the fact that I got into debt in the first place. But it's done and there's actually a beginning and an end to it. The company I used, Money Management International, also helped me create a budget I can live with while I'm in the program.
And it doesn't affect my credit rating. I can finish the program and start looking at owning a house.
Credit counseling has come a long way.