What is debt counseling and is it effective?
Debt counseling is a way to receive help from professionals in getting out from under your debt. They are able to catororize your loans and come up with different payment plans. It can be very effective in prioritizing loans and decreasing interest rates.
debt counseling is If you are having problems keeping up with and paying your bills, you may be in the need of debt counseling. There are many debt counseling companies that give advice, usually for a fee but some offer free counseling, to individuals and companies who struggle with their short term and long term financial obligations.
Once you are enrolled in a debt counseling program, using your credit cards is no longer an option. Credit cards are an easy way to mount up your debt situation. One of the principles in debt counseling is not incurring new debts. You cannot use your credit cards when you are undergoing debt counseling. You will also need to cancel your credit card insurance.