The Benefits of Using a Credit Counseling Service
Today's economy has caused more people than ever before to seek debt relief in one form or another.
Credit counseling services are one of the most popular forms of debt help that is available today and they are a great place to start even if you don't know what kind of financial assistance you need.
In recent years, consumer credit counseling agencies have become more full service.
If they cannot help you, many of them handle debt settlement or work with debt settlement companies and bankruptcy attorneys that can give you the help that is warranted for your specific financial situation.
There are several benefits to using a consumer credit counseling service to get out of debt.
Here are a few of the advantages to using this type of debt relief.
1.
Reduced or eliminated interest rates-Most interest rates are reduced to below 10% and some lenders will eliminate the interest completely.
This can save you hundreds and maybe even thousands depending on your total outstanding account balances.
2.
One monthly payment-The credit counseling service will let you know what you need to pay them each month and they will take care of seeing that your lenders get paid.
3.
No more collection calls-Once you are enrolled in a debt management program, your lenders will deal directly will the credit counseling agency on anything that concerns your accounts.
4.
Eliminated fees-As long as you follow the agreement that you sign, you do not have to worry about late fees or overlimit fees.
5.
Debt freedom in about five years or less-Because of the snowballing system that credit counseling agencies use, you will have all debts repaid in about five years instead of the 10 plus years that it would normally take, making only minimum payments.
Taking the step to ask for debt help is not an easy one, but in the end you will be glad you did.
You will be able to watch your debt go down along with your level of stress.
Credit counseling services are one of the most popular forms of debt help that is available today and they are a great place to start even if you don't know what kind of financial assistance you need.
In recent years, consumer credit counseling agencies have become more full service.
If they cannot help you, many of them handle debt settlement or work with debt settlement companies and bankruptcy attorneys that can give you the help that is warranted for your specific financial situation.
There are several benefits to using a consumer credit counseling service to get out of debt.
Here are a few of the advantages to using this type of debt relief.
1.
Reduced or eliminated interest rates-Most interest rates are reduced to below 10% and some lenders will eliminate the interest completely.
This can save you hundreds and maybe even thousands depending on your total outstanding account balances.
2.
One monthly payment-The credit counseling service will let you know what you need to pay them each month and they will take care of seeing that your lenders get paid.
3.
No more collection calls-Once you are enrolled in a debt management program, your lenders will deal directly will the credit counseling agency on anything that concerns your accounts.
4.
Eliminated fees-As long as you follow the agreement that you sign, you do not have to worry about late fees or overlimit fees.
5.
Debt freedom in about five years or less-Because of the snowballing system that credit counseling agencies use, you will have all debts repaid in about five years instead of the 10 plus years that it would normally take, making only minimum payments.
Taking the step to ask for debt help is not an easy one, but in the end you will be glad you did.
You will be able to watch your debt go down along with your level of stress.
