article thumbnail

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.

article thumbnail

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?

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

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? Bankruptcy. Chapter 7 bankruptcy comes with some serious downsides.

article thumbnail

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. Debt Settlement Services.

article thumbnail

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).

article thumbnail

How to Get out of a Debt Spiral–11 Easy Things to Do [TODAY]

Credit Corp

When you can’t control your debt spiral on your own, you should contact credit counseling agencies first. They help cash-strapped credit cardholders to eradicate debts and establish a stable financial life. Credit counseling agencies offer this plan in exchange for a fee. Key Features of a Debt Management Plan.

article thumbnail

Seven Ways to Get Out of Debt in 2022

Better Credit Blog

This event will be noted on your credit report and may remain there for up to seven years. It may lead to bankruptcy. When there’s no other option to pay your debt, you may be forced to declare bankruptcy. Credit counselors help create budgets, offer free educational workshops, and develop plans to repay debts.