Debt support groups come in many forms. There are informal organizations such as the multitude of online chat rooms and message boards that provide a community of people to share their insight and experiences with debt.

Another more formal debt support group is Debtors Anonymous. Debtors Anonymous is a 12-step program for those recovering from compulsive debt. It works as a fellowship of men and women who share experiences, strength, and hope with each other in order to solve their common problem and help others to recover from compulsive debting.

Is Debtors Anonymous right for you? To help you find out, answer the following questions:

1. Are your debts making your home life unhappy?

2. Does the pressure of your debts distract you from your daily work?

3. Are your debts affecting your reputation?

4. Do your debts cause you to think less of yourself?

5. Have you ever given false information in order to obtain credit? 6. Have you ever made unrealistic promises to your creditors?

7. Does the pressure of your debts make you careless of the welfare of your family?

8. Do you ever fear that your employer, family, or friends will learn the extent of your total indebtedness?

9. When faced with a difficult financial situation, does the prospect of borrowing give you an inordinate feeling of relief?

10. Does the pressure of your debts cause you to have difficulty in sleeping?

11. Has the pressure of your debts ever caused you to consider getting drunk?

12. Have you ever borrowed money without giving adequate consideration to the rate of interest you are required to pay?

13. Do you usually expect a negative response when you are subject to a credit investigation?

14. Have you ever developed a strict regimen for paying off your debts, only to break it under pressure?

15. Do you justify your debts by telling yourself that you are superior to the “other” people, and when you get your “break”you’ll be out of debt overnight?

How did you score? If you answered yes to eight or more of these questions, the chances are that you have a problem with compulsive debt, or are well on your way to having one.

The only requirement for membership to Debtors Anonymous is a desire to stop incurring unsecured debt. There are no dues or fees for Debtors Anonymous membership. It is self-supporting through member contributions. Debtors Anonymous is not allied with any sect, denomination, politics, organization, or institution. The primary purpose is for its members to stay solvent and help other compulsive debtors to achieve solvency. They can be contacted at:

General Service Office

Needham, MA 02492-0009

Phone: 718-453-2743

Fax: 781-453-2745

E-mail: new@debtorsanonymous.org

Debt support groups can range from the formal, Debtors Anonymous, to the informal, discussing debt with your friends or family. The key is to find the group that best fits in with your needs and use the people there as a resource and network to help control your spending habits. These groups can also provide ideas and additional resources to help you get out of the debt you are already in. A debt support group should be the foundation of your plan in getting help with debt; otherwise, a year or two down the line, you may find yourself in the same situation again.

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