What all can credit counseling help you with?

Question

What all can credit counseling help you with?

Answer 1

one think they will do is, total all your bills and consolidate them into one payment along with reducing the interest rate. the organization work with credit companies and negotiate terms and say 2 u, we got this and all u pay is $$. the amount u pay is far less than u were paying. depending on which company u use, they may help u with money management, spending, setting a budget; it varies

Answer 2

They call your creditors and attempt to reduce your debts but it's up to the creditors if they want to work with them or not. So basically you are paying someone to pay your bills for you. I think that you can save your money and put the leg work in yourself by contacting your creditors and try to do this yourself. good luck.

Answer 3

They can help you reduce your debt and even have the interest reduced. Call CCCS toll free @ 1-888-656-2227

Answer 4

Credit counseling provides advice to people on how to pay off their debt and get financial freedom. It will allow you to typically lower the rate of interest on your outstanding debt while also lowering your overall monthly payment on top of tying all of your outstanding and current debt together into a single manageable payment each month.

Here is the source of a credit counseling company named http://ezconsolidation.com for your reference

Answer 5

Most of the time they are able to reduce your interest and help you have a smaller lump payment every month. Most of these types of companies however do charge a few and they get there money first and ofter your accounts go unpaid and then become late and this is reflected on your credit report ( I know first hand). Before you call one of those companies I would call the credit card companies that you owe money to and they may lower your interest and help you out some. Best of luck and I hope this helps.

Answer 6

If you get a good credit counseling service it can help reduce your debt and interest payments.  They can also help you work on spending habits and money management, so the same situation doesn't arise again.

You have to be careful though, because not all credit counseling companies,( some charge high fees), are created equally. (I don't want to scare you), but some companies can actually make your situation worse!  For example: They might lower your payments and have you paying for a bill for 20 or 30 years, that you might have been able to pay off in 2 or 3 on your own, or tell you that they made a deal with your creditors and they really didn't.

Of course the above examples don't apply to all credit counseling companies, but you should do your homework on the companies and check with the Better Business Bureau, before you work with a credit counseling company or sign any paperwork.

Sometimes the best approach is the direct approach! You might be better off just calling all of your creditors and telling them your situation. They might be willing to work with you on lower payments and interest.  It will show the companies that you want to clean up the situation.  It might also save you the headache of having someone else go through all your private information and bills.

Best of Luck