Free Debt Management Tips

Find the best ways to manage your credit card debt

You are here: Home / Debt Management With Credit Counseling And Debt Consolidation

Debt Management With Credit Counseling And Debt Consolidation

Many financial experts will tell you that the best pay to get out from under the burden of huge debt is as we have described – pick a credit card, pay it off, move on to the second credit card and so on until you’ve completely vanquished them.

However, there are some other ways to pay off that debt that don’t take as much time and self-discipline.

You may have seen TV commercials promising instant debt relief through debt consolidation. And this can work – assuming you can choose a company that won’t rip you off. The original credit-counseling agency (for debt consolidation) was called Consumer Credit Counseling Services and was actually formed by the credit providing companies. The way it works is that you meet with counselors who will help you develop a budget and negotiate a plan to pay off your creditors.

Following this, you would write a check to CCCS each month and it then sends payments to your creditors. This was a free service because it was good for the credit providing companies who paid for the cost of the Consumer Credit Counseling Service.

Since then, a number of non-profit and for-profit companies have jumped into this business. They often promise they will get you out of debt very quickly. Unfortunately, some of these companies are little more then rip-off outfits that will take your money but never pass it on to your creditors.

If you feel that credit counseling and debt consolidation would be a good solution, look to see if there is a Consumer Credit Counseling Service in your area. Be sure to search by that exact name. If there is no CCCS in your city, ask one of your credit providers for a recommendation. That way, you won’t make a bad choice and end up in more trouble than when you started.

The pros of credit counseling are a lower interest rate, one lower monthly payment, and more time to pay off your debts. This debt management plan may be a good choice if you can stick to the plan.

This leads us to the cons of credit counseling. You must stay in the plan for it to work. This can take 48 months or more. Can you commit to a plan that long? Another con is the balance is not reduced just the interest rate.

Many people who start a debt consolidation plan with credit counseling have good intentions but cannot complete the plan for some reason or another. Due to the lack of flexibility with credit counseling, there is a high failure rate with this form of debt management.

Call For Debt Management Help

Debt Management

  • The One Simple Habit That Can Help You Enjoy a Great Financial Future
  • Just Married? Here’s 4 Things to do About Personal Finances
  • 5 Pieces of Advice That Could Help You Become Debt Free
  • Things You’ll Need to Give Up to Become Debt Free
  • Tips for Making a Debt Management Plan Work
  • Here’s Why to Have a Date With Your Money
  • Three Common Mistakes That Can Trash Your Credit and How to Fix Them
  • 6 Things You Don’t Know About Money That Could Be Keeping You From Getting Rich
  • 7 Tips for Being a Successful Debt Negotiator
  • Trapped in a Quagmire of Debt? Take This Tip to Get Out
  • The Best Debt Management Tips of 2017
  • 7. Simple Tips For Cutting Your Healthcare Costs
  • Four Signs You Have a Serious Problem with Debt
  • Free Debt Management Tips: Six Bills You Could Easily Get Cut
  • How to Put Your Wallet on a Diet By Eliminating Credit Card Overload
  • The Best Apps for Debt Management
  • 3 Important Tips for Managing Credit Card Debt
  • 5 Amazingly Simple Tips for Debt Management
  • 6 Important Tips for Dealing with Debt Collectors
  • 11 Incredibly Simple Things You Could do to Get Out of Debt

Debt Management Around The USA

Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Vermont Virginia Washington West Virginia Wisconsin Wyoming

Pages

  • 6 Tips For Dealing With Past Due Accounts
  • Contact Us
  • Debt Management With Credit Counseling And Debt Consolidation
  • Disclaimer
  • Double Dart Cookie
  • FTC Statement
  • Pay The Card With The Lowest Balance First
  • Pay The Highest Interest Rate Debt Off First
  • Privacy Policy
  • Terms of Use
  • The Last Resort: Filing Bankruptcy
  • Using A Home Equity Loan To Pay Off Debt
  • Using Debt Settlement To Resolve Your Debts

Copyright © 2023 · Daily Dish Pro Theme on Genesis Framework · WordPress · Log in