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

Credit Corp

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? It’s also important to do your research to make sure you are working with a legitimate, certified credit counselor.

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What Happens if you Ignore a Debt Collection Agency

Nexa Collect

This can lead to wage garnishment, bank levies, or liens against your property. Wage Garnishment and Asset Seizure : If a judgment is entered against you, the creditor may be able to garnish your wages, levy your bank accounts, or place liens on your property, depending on the laws in your jurisdiction.

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Free Credit Repair for Low-Income Individuals?

Credit Corp

Check your financial accounts for any credit reporting perks. Some credit card and banking accounts come with credit reporting perks. You may be able to see some information about your credit report via the customer service portal for your account, so check with your lender or bank to find out if that’s the case.

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FTC Safeguards Rule Deadline Extended, But Don’t Wait to Implement Data Security Compliance Protocols

Fraser

Businesses should also be mindful that the GLBA and the Safeguards Rule apply to more than just banks and investment houses.

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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. They typically charge a high fee for negotiating discounts.

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Need Debt Relief? Here Are Your Options

Debt Guru

This type of bankruptcy stays on your credit history for 7 years. Most credible credit counselors warn consumers to stay away from debt settlement because it can further damage your credit score and isn’t even a guaranteed relief from your debt. If you stick with the payment plan, the remaining debts will be discharged.

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8 Ways to Consolidate Credit Card Debt 

Credit Corp

To get a credit card consolidation loan, take the following steps: Step 1: Research lenders, such as credit unions, banks, or online lenders. Since credit unions are not-for-profit institutions, they typically offer the best rates, especially for individuals with poor credit, although you need to become a member to apply.