Welcome to Credit Counseling Guide
Credit Counseling Article
. For a permanent link to this article, or to bookmark it for further reading, click here.
from: How to Get Help from a Consumer Credit Counseling ServiceWhen you are in deep trouble because of your debts and you have a hard time managing your finances, it is best to work with a consumer credit counseling service as soon as possible. Do not wait for creditors and debt collectors to knock on your door or call you on the phone everyday. You must start to take action now.
Although you may need financial help at the soonest possible time, you must not fall trap to the many too-good-to-be-true offers made by unreliable companies. You must be very careful when choosing a consumer credit counseling service to work with as some companies are not really what they seem to be.
Commonly, organizations and companies that offer consumer credit counseling service will not charge a fee. However, if a fee is charged, it must not be more than $10. You should also be careful of companies that claim that they can help you repay your debt with little or no amount at all, because such companies are mostly not legitimate companies. Checking out if the company or organization is registered with the National Foundation for Credit Counseling or the Association of Independent Consumer Credit Counseling Agency is a good way to find out if the company is a legitimate one.
Once you have chosen a legitimate consumer credit counseling service provider, you have to make sure that you go through the monthly statements provided by the company. Always make sure that your consumer credit counseling service provider remits the payments to your creditors on time, since late or missing payments have a negative effect on your credit rating.
Availing of a consumer credit counseling service does affect your credit rating, because it makes your creditors think that you are having a hard time paying your bills. However, this negative connotation is outweighed by the fact that you are proactively trying to manage your financial responsibilities.
A consumer credit counseling service provider may report your credit standing to your creditors either as credit delinquent or as someone who has taken up credit counseling. Knowing how the company reports you to your creditors is very important because it allows you to know where you stand with them.
Consumer credit counseling service does work in most cases, and it is also known to work quite well in credit repair. The only time that this service ceases to be an option is when you are too heavily in debt and nearing bankruptcy. Of course, this service is not for you if you are a person who cannot control your spending.
Related Articles for Credit Counseling
Credit Counseling News
FAA Credit Union Offers Free Financial Management to Members (The Shawnee News-Star)
FAA Credit Union has partnered with Accel Members Financial Management to offer members and their families unlimited access to free financial education and counseling services. The program provides unbiased assistance with setting financial goals, budgeting, money management, and debt repayment.
Read more...Half a million Canadians late on credit bills: report (CTV.ca)
The number of Canadians who are late on making their monthly credit payments has swollen to more than half a million, according to a new report by Equifax Canada.
Read more...Author of Groundbreaking Caregiver's Book tO Speak at Cambridge Credit Counseling's July Community Seminar (PRWeb via Yahoo! News)
David Horgan, co-author of When Your Parent Moves In; Every Adult Child's Guide to Living with an Aging Parent,(Adams Media) brings his unique message to educate the community on the financial strains caused by the recession. The book is currently on sale nationally in stores and is the "Only Guide" available on the subject.
Read more...Beware: The high cost for bad credit (Hattiesburg American)
Bad credit can cost you - whether or not it is your fault. And it can be more costly during these days of tight credit. The Better Business Bureau continues to see an increase in the number of complaints received about CROs - credit-repair organizations - and it appears that the number of shady CROs also is increasing.
Read more...Credit counselors help locals defeat debt (The Carrollton Leader)
It was a television commercial that set Dedra Coldiron on the path to debt freedom five years ago. “I was going through a divorce and I found myself stuck with all the debt. I had a perfect credit score from before,” said Coldiron, who recently moved from Carrollton to Flower Mound.
Read more...