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How Does Credit Counseling Work and Is It Right for You?

Credit Corp

Debt can get complicated, especially if you have a lot of it. Credit counselors are trained professionals who help individuals and families work to get a handle on their debt so they can lay a stronger financial foundation for the future. How does credit counseling work? How Does Credit Counseling Work?

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Does Debt Relief Hurt Your Credit?

Credit Corp

Credit Counseling Immediate credit impact: None expected Long-term credit impact : None expected A credit counselor is a professional adviser who helps you manage and repay your debt. Counselors may offer free or low-cost consultations and educational materials.

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Need Debt Relief? Here Are Your Options

Debt Guru

When your voicemail is filled with messages from collection agencies and stacks of bills arrive in your mailbox that you have no chance of paying, it’s time for some serious debt relief help. So, when should you seriously consider debt relief? If you stick with the payment plan, the remaining debts will be discharged.

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Credit card debt is surging at a record-high rate

Collection Industry News

Credit counseling agencies offer free or low-cost debt relief services to consumers who are struggling to manage their finances. A credit counselor may help you by: Analyzing your income, expenses and outstanding debts to create a budget. Signing you up for a debt management plan (DMP).

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You’re in Debt: 9 Terms to Know

The Kaplan Group

Credit Counselor. A credit counselor is certified and trained in consumer credit, money and debt management, and budgeting. Counselors can discuss your entire financial situation with you, and help you develop a plan to solve your money problems.

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How to Repay Debt: 4 Options

Debt Guru

Reach out to a credit counseling agency. They will create a debt management plan (DMP) for you by evaluating your budget and determining an affordable monthly payment for all your debt. Your credit counselor will likely get you a lower minimum payment and lower interest rates.

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Determining Your Debt-to-Income Ratio

Debt Guru

your high-interest credit card balances one at a time using “snowball” or “avalanche” tactics. If you end up in the mid-to-high debt range, it might be wise to consult a credit counselor for advice tailored to your specific situation. Contact our experts today to begin your journey out of debt.