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Credit and Debt Counseling
Credit and debt counselors advice people on how to improve their credit and economic situations. Debt counselors help people to understand where their money is going, how they are being charged with interest, and the best ways to knock out their bills. They will sometimes mediate with debtors to help reduce what a person owes. Credit counselors will look at payment histories, credit scores and reports, and overall debt to help a person make a plan to raise their credit scores.
140 Questions
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.
Where can you get a sample of a hardship letter for medical bills?
If you have medical bills you can't afford to pay, you should write hardship letter to the hospital and/or your medical provider, and do it before you are sent to collection agency. Trying to explain the situation shows your good faith and desire to satisfy your bills. Hospitals and medical professionals are very likely to meet you half way, instead of trying to collect through the third party. So writing a short and right to the point medical bills hardship letter is certainly worth while, as long as you intend to pay. Send it by registered mail with return receipt required. Here is the sample.
Date {MM/DD/YYYY}
Hospital/Provider
Hospital/Provider Billing Department address
Your name
Your address
Account #
RE: Date(s) in the hospital or of medical procedure {MM/DD/YYYY}
Dear Sir or Madam,
This is the medical hardship letter to state my inability to pay the bill for amount of $$$$ for the procedure performed on the {MM/DD/YYYY} (or my hospital stay from {MM/DD/YYYY} to {MM/DD/YYYY}). Please understand that this is neither a refusal to pay nor a dispute of the charges, but simply an explanation of my financial situation.
My current income is just enough to cover basic necessities, and by paying your charges at once as required, would lead to a serious financial hardship for my family and myself. With that said, I want to pay for the medical services performed and my stay in the hospital. I would like to propose paying you the entire amount in monthly installments for the next 12 months (or you can suggest to pay 50% of the bill at once). I am truly hoping for your favorable response.
Thank You for your understanding
Your signature
Your printed name
What can a credit counseling agency do for you?
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.
Where can one apply for a credit counselling service?
One would first have to locate a credit counseling service to apply to. The National Foundation for Credit Counseling has recommended providers on their website. A local bank or credit union may also be able to provide a reference for a credit counselor.
What are some names of agencies that offer credit card debt counseling services?
They are a number of credit card debt counseling services online that one may go to for help. They include, Takechargeamerica, Creditadvisors, and Familycredit.
If the case was dismissed without prejudice, you can refile at almost anytime after you get the credit counseling. However, you should exercise extreme caution when refiling the bankruptcy and you should consult an attorney before doing so. Under the new laws, there are harsher restrictions on refiling bankruptcy to prevent "serial" filings. A serial filier is someone who files case after case to avoid eviction or foreclosure. Failing to file the Certificate of Credit Counseling can be sufficient grounds to find that the first bankruptcy was not filed on good faith and could result in an early termination of the automatic stay. If you refie, it may be necessary to file a motion to extend the automatic stay. Therefore, it is very important to see a qualified bankruptcy attorney about your situation.
Which organisations offer debt help for people of Christian faith?
Family Life Credit Services provide credit counseling to individuals that may have taken on more debt than is best for their income level. This is a faith based organization that specializes in helping Christians.
It is the debt counselor's job to notify the creditors that if you choose to sign up for debt management plans and that you are very serious about getting out of debt. They are professionals. They know what compromises creditors will agree to and they know that creditors are likely to accept a partial payment rather than no payment or suing a debtor who has no money. Credit counselors also have contacts and know how to access the right people.
What is one the website American Consumer Credit Counseling website?
The website American Consumer Credit Counseling website is a site devoted to giving personalized advice to help people manage and control their debt. It may be contacted by phone at 1-866-929-2227.
Is Paul Michael Glaser the spokesman for a debt counseling company?
Yes he is. The company is Consolidated Credit Counseling Services.
Can you use a credit counseling service to pay the deficiency balance in a repo in nc?
I was a Certified Credit Counselor in the state of North Carolina, and the answer to your question is no. The only accounts that a credit counseling organization will accept are revolving accounts (credit cards), payday loans, utility debts, and medical debts. Repossessions will have to be negotiated between you and the collection agency or lender that has this account.
Where to go for bad credit counseling advice?
are experts in the credit repair field and helps individuals meet their credit goals. process has been been developed, refined and proven over many years and thousands of customers
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Do credit card counseling services get a record of all your debt?
They can pull your credit report and get almost all records. Except few: more than 7 years old and Medical bills (current)
Why does a 'Fico Score' fluctuate so much?
Your FICO credit score is based on a number of factors: how long you have had credit, how much credit you have, how much money you owe, whether you pay your bills regularly and on time, whether you have many late payments, whether you were ever in bankruptcy or default on a loan, etc. Because any (or all) of these factors can change, so can your FICO score.
Keep in mind the 125 loan will probaly have high interest or some other means of increasing the payment in the future. The lender wants to be covered for their risk. Talk to a banker about the loan and an Attorney about the debt couseling agencies. That should give you your answer. Check out either company you decide to go with by calling the BBB of your state.
Where can I got to get rid of my credit card debt?
It is always easy to think just because you pay off your debt your credit score goes up, but that is not true at all. Many credit companies don't tell people that are suffering with credit debt or any debt that it not because your in debt that brings your credit down there are MANY hidden fees that are not been removed so, there's where I come in and tell you the truth don't pay the debt. It's not going to help you out. Get in contact with an expert. If you need more information contact me at 786-792-2002
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.
Is Care One Credit recommended for financial counseling?
I would suggest to contact your own creditors instead. Currently, there are quite a lot of fraud regarding financial services. If you need a low interest rate,you should ask for it and pay for the debt that you can handle first.
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.
What kind of services does Delray Credit Counseling offer?
Delray Credit Counseling offer debt consolidation services to customers in the United States. They can help those who have debt problems to structure payments in a more manageable way.
Where are some of the places that one could seek consumer credit counciling?
The United States Trustee program keeps a list of accredited consumer credit counseling agencies on their websites. Also, the Federal Trade Commission website details information on finding consumer credit counseling agencies nearby.
What types of services are offered by Christian Credit Counselors?
There are many types of services that are offered by Christian Credit Counselors. Examples of the types of services that are offered by Christian Credit Counselors includes debt management services and financial advice services.
Where can one find counselors for debt relief in Ohio?
The best place to start when looking for debt relief counselors in Ohio is to look in the local telephone book. This will give a person a better idea as to what debt counselors will be withing their desired travel distance.
Can you sue a credit counseling agency after you file bankruptcy?
The US constitution permits citizens to sue anyone at any time for anything. Whether the suit will be heard is another matter.
Expanding on the above...presumably you feel they didn't do what they promised. The written agreement between you and them would be the most important thing to prove your case...and I'd suspect it is written to protect them well...including things like it supercedes verbal representations and may even require you to submit to arbitration before going to court.
What services are offered by in charge Debt Solutions?
InCharge Debt Solutions offer several services. They offer credit counseling, they offer InCharge's Debt Management Program and they can help with the bankruptcy process.
