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I dropped out of consumer credit counseling years ago, and it was not a good experience. The credit cards that I had would not re-open my accounts and my credit report had a negative comment regarding "Consumer Credit Counselors", which is a red flag to any creditor that you needed assistance with maintaining your finances. Also, depending upon who your creditors are they will cancel the arrangements made with consumer credit counselors and go back to the original terms and agreement of your contract, along with any previous balances you had already occurred prior to signing up with a counseling service. My suggestion is if you start counseling, finish counseling.
What else can I help you with?
How does one seek credit card counseling?
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.
When did New Markets Tax Credit Program happen?
New Markets Tax Credit Program happened in 2000.
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 the impact of credit cards velocity on consumer spending habits?
The impact of credit card velocity on consumer spending habits refers to how quickly people use their credit cards to make purchases. When credit card transactions happen faster, it can lead to increased spending as people may be more likely to make impulse purchases or overspend. This can result in higher levels of debt and financial strain for consumers.
Does your bad credit rating affect your children if they live at the same address?
no it does not affect your children's credit rating. credit score is based on how an individual uses credit, not on how other people uses credit. what possibly may happen is children may learn thier parent's bad credit habits. if a consumer needs a co-signer (parent) then if the parent has a bad credit rating that will affect the loan
What can happen if you don't pay your credit cards in North Carolina?
The creditor can sue the account holder(s) to recover the debt. The defaulted account will be entered on the consumer's credit report and negatively affect the person's credit score. That type of negative entry will remain on the CR for 7 years.
What happens if you were a cosigner on an auto loan but now your credit is terrible and you are in a credit consolidation program?
As far as the auto loan you cosigned for, nothing will happen as long as the person who actually borrowed the money makes the payments on time.
If foreclosure becomes definite what will happen to your credit?
your credit rating will drop
What might happen if your credit card number and credit history fell into the wrong hands?
It could be used for identiy theft for one. Or to apply for another credit card, then run up charages in that person's name. A lot of damage can be done when personal infomation, such as card numbers, SS #, etc. fall into the "wrong hands." And as statistics prove, it camn and does wreak havoc with a consumer's life as well as credit.
When did Phoenix Program happen?
Phoenix Program happened in 1970.
If you owe 2000 in credit card debts and 4000 from a car repossession what will happen to you if you fail to pay and can they send you to jail for that?
I don't know about anyone going to jail for failing to pay on credit. Basically what happens is unpaid debt usually gets sent to collections but the credit card companies can file suits against you to garnish your wages so they can collect. Basically as far as that's concerned your credit will pretty much be screwed for a long, long, time. IF this is the case for you I would advise consulting credit counseling firms and see what they can do for you.
How do you run a family counseling session?
To run a family counseling session you must first invite the family into your office. You must explain to them what will happen and then you let the appointment take it's course.
