Consumers too slow to seek assistance.

• Position: Credit Counseling - Association of Independent Consumer Credit Counseling Agencies - Brief article

A sharp rise in the number of consumers seeking help with debt due to high interest rates, reduced incomes, and overspending has been reported by member offices of the Association of Independent Consumer Credit Counseling Agencies (AICCCA), Fairfax, Va. Many offices have seen as high as a 15% increase in those seeking help for these factors.

In addition, the number of people whose debt problems are too dire to be helped by credit counseling has increased by more than 10%. Lack of adequate income and waiting too long to ask for assistance are the two main reasons for the increase in persons who are unable to solve their problems with credit counseling. This leaves bankruptcy as one of their few options.

"The major tipping point for people seeking help from our member offices varies depending on the current economic conditions," says Dave Jones, president of AICCCA, "but the underlying cause for most consumers who do so is the lack of a household budget and poor money management skills. If consumers have a better plan for...