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A credit counseling agency will ask you how much debt you have to pay, what is your source of income, how much do you pay in rent, transportation, utilites, and food. They will also ask if you have a savings account. Most of the time, the counselors will have a debt to income ratio in which they will calculate how much you can give them rather then paying each creditor all by yourself.
It has to be in writing and you are not allowed to use credit cards anymore once you signed up for a debt management plan. Be careful of using them. It has to be a non-profit and check with the Better Business bureau before signing up for one.
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What is a credit counseling agency?
A credit counseling agency is a business, or partnership which gives advice on either boosting your credit scores, and expunging credit blemishes from your record.
What is a credit counseling agency that can help me with finances?
Credit counseling can be found at many government agencies. Locally, your personal banker may be able to direct you to a reputable credit counselor or coach.
How much debt is necessary to qualify for a credit counseling agency?
A credit counseling agency is a good bet for anyone who is struggling with debt, no matter how much debt is on the books. The service they provide if only advice is good and sound.
What is a credit counseler?
A credit counseling agency is a business, or partnership which gives advice on either boosting your credit scores, and expunging credit blemishes from your record.
Which organisations offer consumer credit counselling services?
Some organizations that offer consumer credit counseling services include the Association of Independent Consumer Credit Counseling Agency and Consumer Credit Corporation. Another company in the same industry you may bee interested in is the National Foundation for Credit Counseling.
What is the best way to get a debt consolidation?
The best way to get a debt consolidation is go to a consumer credit counseling agency. The credit counseling agency will give the customer a consular. The consular will be able to help you create a payment plan and work with the credit company to get a lower interest rate for the customer.
Is there a fee to use a credit counseling agency?
Most credit counseling agencies do charge fees. Some offer sliding scale fees depending upon your income, others charge hourly fees which can be excessive.
Consumer credit and debt counseling can be found where in California?
Consumer Credit Consultants, Inc is located at 8280 Florence Avenue, Suite 210, Downey, California. This is one example of a credit and debt counseling agency in California. A complete list can be viewed at the website of the California Department of Business Oversight, who overseas counseling agencies in the state.
Where to go for bad credit counseling advice?
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How do you find a credit card counseling program?
Usually, a credit counseling agency will attempt to get you a lower interest rate on your credit cards in order to coax you into paying them down. The creditors do not have to accept these terms and can easily reject you, but this is usually based upon your own financial situation and the type of relationship that the credit counseling agency you go with has with your debtors. More often then not, these credit counseling agencies will have a relationship already with these major creditors and already know how much money that they will get as a result of working with them and how much the interest rate will be reduced because of it. You can usually expect to pay back your entire balance on the debt that you owe and anywhere between six and twelve percent of the interest. This is about half of what your normal interest would be. Again, they do not have to do any of this, but it is what typically will occur when you go through a credit counseling service. When you speak with the potential credit counseling agency be sure that you get all the exact terms and conditions from them. They will usually try to have all of your late payment fees reverted, but this tends to happen when you have a proven track record of about half of a year with them of solid payments.
What is a reliable credit counseling agency?
There are a number of reliable credit counseling agencies that are reviewed very well online. Some reliable credit counseling agencies are CareOne, Springboard, American Consumer Credit Counseling and American Financial Solutions.
What are some reputable credit counseling companies?
There are many reputable credit counseling companies. Some of the most reputable ones include '123 Credit Counselors, Inc', 'Abacus Credit Counseling' and 'Advantage Credit Counseling Service, Inc'.
