Consumer Credit Counseling
Consumer Credit Counseling done by NIFCE certified debt counselors.
Are you struggling with credit card debt and wondering which consumer credit counseling organization can provide the very best service? There are so many consumer credit counseling companies to choose from and finding the best one could eliminate many of your financial troubles as well as save you a fortune in interest, and get you out of debt in about a third the normal time. One of the many pitfalls people run into when considering these types of services is their failure to fully understand all of the important details of this type of program and how the different companies will manage these details.
So many individuals have sought out these types of programs only to be frustrated and discouraged to find out after signing up that the organization did not totally disclose all of the crucial details of the program and how those details would affect the consumer in the short and long run.
A few questions you should consider when looking into a consumer credit counseling are: 1) Are there any upfront consultation fees? 2) Is there a fee to enroll in the program and/or a monthly fee and if so, how much? 3) How will this program affect my credit score? 4) Will my creditors continue to harass me while on this program? 5) Does the organization have a satisfactory listing with the Better Business Bureau?
There are a number of companies offering debt help that are non-profit consumer credit counseling agencies. These companies will typically provide budgeting help, guidance in identifying unnecessary spending, and ways to free up income. These services are typically offered to the public free of charge, and could provide enough help for you to be able to handle your finances by yourself from this point on.
If you go through the above mentioned process and are still unable to get your financial situation under control, a consumer credit counseling organization may offer you a debt management plan in an effort to more efficiently manage your debts. A debt management program will help by reducing your monthly payments and interest on your unsecured accounts. This will also stop your creditors from bothering you once the accounts are set up and the first payments made.
Often the most discouraging time in getting a debt management plan going is in the first three months. Despite the best efforts of the consumer credit counseling organization, some creditors will take longer to set up the accounts than you would anticipate. If this occurs you will notice that the interest on the account has not been modified, and that additional fees may also have been added to the account. This is why it is very important for you to stay involved in the process and actively help to manage the accounts. If you notice these types of discrepancies on your statements, you should immediately contact the consumer credit counseling company so that they can rectify the situation as soon as possible.
Once the accounts are set up accurately the program will almost go into “automatic” mode… I said “almost”. To make sure the plan is moving along properly you should continue to watch your monthly statements to make sure that the debt management plan is still operating properly. Make sure that the payments are showing up on the statements and that the posted interest rates are still at the negotiated rates. If not, you will need to contact the consumer credit counseling agency in order to have them fix the problem.
If you would like to know exactly what a top notch consumer credit counseling organization could do for you, simply click on the “free quote” link below and a certified credit counselor from the American Credit Foundation will contact you and walk you through all of the pro’s and con’s of this type of program. They will also help you to plan a budget and learn the basic financial principles that will help you to succeed. This consultation is entirely free and you are not obligated in any way. As a non-profit organization we offer this free service to the public in an effort to better educate our nation on the fundamentals of finance.