Do I Need Credit Counseling?

Credit Counseling ReviewsWhat does counseling conjure up? Perhaps you think about sitting on the proverbial sofa and telling someone your entire life story? When you put credit in front of counseling it takes on a whole new meaning. Now you have to pour out your entire life, but you have to pinpoint monetary mistakes you made. Credit counseling does not have to be a negative issue. In fact anyone can seek credit counseling if they want to. It does not mean you are in debt or heading towards debt. Instead, the concept is there for anyone who feels like they could use some money management skills. Unfortunately most do not view it this way and decide to seek counseling only after they have hit some rough patches in their financing.

Debts happen not because many of us are careless with money, but we hit upon external forces. There are some people who are guilty of overspending and buying luxury goods.Credit counseling is designed to help all types of spenders where you overspent on flat screens for your home just before you lost your job, needed to spend money to buy groceries or just became to extravagant. The point is that you feel you are in debt or will soon have trouble paying debts and are seeking a solution. Credit consultation is often a good thing to do for your teenager too.

Anyone and everyone needs to learn how to better manage their money. Even if we do live in a society that purports the buy now and pay later concept, it is a very good idea to start learning how to handle money with an eye towards better usage. This is what credit consultation can teach you. It looks for the root of your spending problem. You may already know what the problem is. Anyone who lost their job or tried to find a different and better job but is making less can become in debt. Credit consultation is not a solution to all your debt issues, but it can be a good place to start.

The Twos of Credit Counseling

There are usually two types of spenders:

The person who overspends when their debts start to slide out of control. This person knows they should not spend any more money, but they feel out of control and worried.They start to use their credit card as a crutch. It is difficult to stop because they get tired of not buying what is needed like new pants when their current pair has a hole.

The second person has always had a shopping problem and that is why they are in debt and cannot stop.

Not everyone fits the mold of course and that is why credit consultation needs to find the type of person you are. You might know that you tend to spend when you are depressed. Credit counseling only works if you can address the underlying issue. If you do not find what your main cause to overspending or getting into debt is then it will happen again and again. You might file for bankruptcy and in another ten years be right back filing for it again, unless you use credit consultation to find the issue.

You have arrived at this page because you need credit counseling. You also found there are a lot of sites promising this help, but you are not sure which company to trust. I come in at this trust point working to ensure you have the answers you seek. I have vetted every company reviewed through a strict process. I would use each company I have put my stamp on.

National Debt Relief for Credit Counseling

National Debt ReliefDeciding which company should be number one is tough when you have several great companies and stiff competition. I reviewed 22 companies and found that National Debt Relief offered you everything on my must have list for credit counseling. They are a company with BBB and AFCC standing. They are also a part of TASC in good standing. I am not the only one to award National Debt Relief with a top rating because in 2019 they received an award for being the top credit counseling company in the nation. National Debt Relief offers you more than counseling. The company also has negotiation, settlement, consolidation, and other relief options.

If you are seeking a company for more than credit consultation you can be assured that your debts will be examined as a whole and not a part. Some companies will take one debt, get it taken care of, and then move on to another. National Debt Relief makes certain you have a solution that is completely fulfilled in as quick a fashion as allowable based on your debt situation.

Click Here to Get A Free Consultation From National Debt Relief

Credit Counseling with CuraDebt

CuraDebtAs my second recommendation you have CuraDebt. This company is accredited by TASC. They are mainly a credit counseling location that is meant to help you get out of debt and stay out of debt by targeting the root of your issue. For more than ten years this company has been around providing you debt solutions in a variety of ways. While their main focus is with credit consultation you can also ask about settlement, consolidation, and negotiation.The company will also provide with the Business Debt Counseling and Tax Debt Relief.

From CuraDebt you will discover why you might want to get credit counseling and who offers it. You also learn how their program works versus other companies. You have the ability to take their program in order to rebuild your credit, as well as find out how to keep out of debt in the future. Counselors explain how to take maximum advantage of all the tips you are provided during your counseling stage.

Along with tutorials and videos about counseling, you will discover plenty of articles on debt related issues are provided on their website. As a handy resource it is like CuraDebt in some ways. Certainly their friendly staff members, experience, and intelligence make them a top company to work with when you need it.

Click Here to Get a Free Consultation from CuraDebt

American Debt Enders

American Debt EndersAmerican Debt Enders is third on my top listing. If you have a second company then someone else has to come in third, but it does not mean you should ignore American Debt Enders. Everyone has their own needs when it comes to credit counseling. You should take a look at more than one company to see how comfortable you are with those willing to help you in your debt situation.

American Debt Enders is an amazing company because they offer a number of resources including those for credit consultation. You can find different articles about loans, credit cards, counseling, settlement, and much more. You also have credit tools like reports, comparisons, and scores. This is a company you might recognize from their advertisements on TV because they are that well-known and diverse. They have earned their reputation as a credit counseling location. Their staff members are intelligent, experienced, and friendly to ensure you are comfortable with getting help. You can always talk with your case manager whether you have a need for counseling or another relief solution. This is just one of my suggestions and you can decide which company works best for you.

Click Here to Get a Free Consultation from American Debt Enders

Debt Counseling: Does it Really Help?

With economic instability, more and more people are having difficulty paying their bills and making ends meet. Without enough savings in the bank, you can experience financial turmoil, making you feel vulnerable especially during emergency situations. To somehow relieve their financial difficulty, some people apply for loan in the bank or other financial institutions. Although loans are beneficial, failure to manage your debt can lead to more serious problems.

Debt counseling, which is also being referred as credit counseling, is a process that helps borrowers become aware of the things that they need to do in order to prevent having high unpaid debts. It also helps create a debt management plan (DMP) that assists the borrower to repay their loan by negotiating with the creditor or the lender using a repayment plan that would make it easier for the debtor to pay back. Depending on the agreed terms, you can make only 1 consolidated payment each month. This monthly payment can even be reduced from 30%-60%.

To make the most of the benefits that this counselling provides, it would be better if you know when to seek help. You should seek the help of a reputable debt counselor if you are already seeing signs of debt troubles such as:

— Not having enough cash on hand to repay the loaned money and using credit card to make minimum monthly payment.

— Applying for cash advance loan from one creditor just to pay your debt from another creditor.

— Borrowing money from your family or friends just to pay the bills.

— Requesting to increase your credit limit on credit cards.

— Applying for consolidated loans while still using your credit cards.

Aside from these, you may also seek for debt relief if you cannot recover financially from emergency situation, not saving money for your retirement, and using credit cards for the things that you usually pay with cash.

Drawbacks of Debt Counseling

Like other debt management efforts, debt counseling has also some drawbacks. For one, since this involves decreasing your monthly payment, it will take more time for you to fully pay your debt. Not to mention that you will pay more interests. Another drawback is that you will incur additional cost. This is because credit counseling is not free. Depending on your chose credit counselor, they may ask for 5% aftercare fee every month. You may also incur a rejection fee if your chosen counselor found out that you not eligible for counselling since you are not over-indebted.

The process can also become complicated. You have to make some sacrifices in order to prove to the court that you are serious in paying off your debt even if it means you have to minimize your shopping spree and make certain changes in your lifestyle. Moreover, you cannot also get more credit and use your credit facilities.

To reduce the risks involved in debt counseling, it is vital that you found a reputable debt counselor. With the thousands of companies that are offering this counselling service, careful research is needed. Most agencies are dedicated to helping you resolve your financial woes. However, not all of them fulfil the kind of service that they promise, charge the most reasonable rates, and provide excellent pieces of financial advice.

Factors to Consider When Choosing a Debt Counseling Agency

Getting the highest quality service from a debt counseling agency involves choosing the right one. But with all the agencies out there, how can you be sure that you will choose the one that can meet your needs best?

1. Make Sure That Your Chosen Agency Is Accredited

In the United States, an agency that is a member of the Association of Independent Consumer Credit Counseling Agencies and the National Foundation for Credit Counseling is your best choice. Hiring the service of an agency that has been accredited by the International Organization for Standardization can help you ensure that it has meet the standards set by the organization.

2. Determine the Kind of Services Offered

As much as possible, you have to choose an agency that offers a broad range of quality services. This is to make sure that they have everything that can help you deal with your debt problems. Refrain from hiring those that are claiming that your only option is through DMP. Good debt relief agencies present several options that can reduce your credit problems. They may also offer debt management classes and budget counselling.

3. Ensure That They Employ Experienced, Highly Skilled, and Certified Credit Counselors

Being a certified credit counselor requires expertise and knowledge in the field. They need to undergo training and take and pass a certification exam to ensure that they are competent in dealing with various aspects of debt relief such as bankruptcy, budgeting, debt management, and credit repair and consumer law.

4. Ensure That No Serious Complaints Are Filed Against the Agency

Make a research online to know if there are complaints filed against your chosen agency. Refrain from hiring the service of the agency that has long list of complaints. You can check the website of the Better Business Bureau to identify that list of unresolved complaints filed against the debt counseling agency. You also have to determine what the complaint is all about.

5. Know the Rates Being Charged

It would be best if you choose the debt counseling agency that provides nominal fee and more than one debt management option. Take note that establishing a DMP should not exceed $50. The agency should also be willing to waive your fees if you do not have the capacity to pay for them. Be careful on the debt counseling agencies that force you to make “voluntary contributions.”

Debt counseling has its own perks and perils. What’s important is you carefully determine if this debt management option is really the right one for you. If not, do not be afraid to seek other options that will help you better management your debts. If you believe that it is the solution to your problem, then the best thing that you can do is to hire the service of a reliable credit counseling agency.

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