Joined a debt management program because credit card companies would not lower interest rate - pleas

I am a mother of 5 children, and because of everyday living cost is so high I used my creditcards to buy groceries, etc., while working part-time. I just started working full-time and the interest rate went up on the creditcards and they would not lower their rates but they did when I joined a debt management program. Will this harm my credit more, I have no other avenues. I can%26#039;t file bankruptcy. I am really trying but it is very hard.

Joined a debt management program because credit card companies would not lower interest rate - please advise?

I%26#039;m in ur situation.. i joined the CCCS program in 2005 with 26,500 in debt, and now i only have $14,000 and 1 1/2 more to go and i%26#039;m done. Basically paying off 26,000 in 5 Years. Debt management hurt my score really bad at first, i wasnt even able to open a wachovia bank account it was that bad, but as my accounts started paying off all in 2005, and 2006, my credit report said %26quot;agree to pay account in full%26quot; or %26quot;paid in full%26quot;, my score was slightly improved. My advice is pay off ur debt on time each month, and dont stop, no matter what, until its paid off. because since u have joined a program my biggest advice is NOT to back out of it, cuz if you even try to back out of it, will have to fight ver hard because 1. credit card companies need their payment, or they will hike up all the interest rates as before and 2. the debt program company wants their small percent as well. Dont consider bankruptcy i think u%26#039;re on the right track for not filing. Its is very hard for me, because I have learned to live on cash, and hate to struggle paycheck to paycheck, but in a 1 1/2 it will be all paid off, and then I dont have to worry about bill collectors and credit card companies. My reward after 1 1/2 is i%26#039;m going to get lasik surgery, and I%26#039;m gonna go on a 2 week vacation. I have a college degree, work for a great IT company, but having to pay this debt is holding me back from achieving my future goals such as a masters degree or owning a home. I have learn a hard lesson, never let money control my life again especially credit card companies, and loans. I had to make alot of life changes to get so much paid off since 2005, you may have to do the same. Look at it this way, the faster you get debt paid off, the more you can be there for your children financially in few yrs.

Joined a debt management program because credit card companies would not lower interest rate - please advise?

No. It wont harm you credit any more. It will reflect that the accounts are being paid by debt management. You will not be able to use anymore and wont be able to get anything new until you are removed from the plan. If you stick with it, it will definitely help. Been there, done that. Paid off 25,000 of debt in 5 years.