With the ever larger debt loads faced by Alabaman borrowers, it’s no wonder that so many of the citizens of our fair state have begun to examine the various alternatives to paying back their mortgages and credit card bills through more than traditional means. After all, considering that our current national financial struggles show no signs of improving over the coming years and more and more ... (READ MORE) Much as the new availability of credit has helped Americans in any number of ways, it’s unfortunate that consumers don’t have more information about the consequences of credit cards before they begin their financial lives. After all, everyone’s told about the importance of developing credit – countless advertisements make it seem like credit cards should be used for every purchase – but, for a... (READ MORE) It shouldn’t be surprising how popular debt management programs have become over the past few years. The national economy is tanking beyond recall, unemployment has reached highs not seen since the recessions of the seventies, gas and food prices are spiraling out of control, and it seems like just about everyone is having trouble paying even the minimums of their collected credit card bills. ... (READ MORE) |
Credit Counseling
The Consumer Credit Counseling approach looks to minimize debt by negotiating with creditors to lower payments and interest rates
. However, unlike debt settlement, Consumer Credit Counseling companies ask consumers for payment and rarely slash actual debts. For those seeking to repay the entirety of their debt (especially a temporary blip caused by accident, illness or sudden unemployment), Consumer Credit Counseling iss an option worth investigating, but be advised there may be negative consequences to your credit scores.
There's another aspect to Consumer Credit Counseling that should be understood. Many Consumer Credit Counseling firms often advertise themselves as non-profit groups offering financial advice, but they also take payments not only from the consumers but also the creditors. As you'd imagine, those working both ends of the system, wouldn't offer the best counseling and may suggest payment strategies that result in even higher debts for the consumer. The entire Consumer Credit Counseling industry is being more closely watched because of alleged misdeeds, and, though some Consumer Credit Counseling companies do help a specific sort of borrower, it's important to determine just whom they're actually working for.
Compared to debt settlement firms, Consumer Credit Counseling programs have very little motivation to reduce consumer debts (despite the fees charged) and can sometimes do more harm than good.
Got Debt? Need Debt Relief?
The decision to reach out for help with your debt is not one that's easy to make. You were raised to "do the right thing", but now it’s nearly unbearable. You struggle along while your creditors are turning up the heat. And now you’re at the point where the late fees, penalties and interest expense make it impossible to keep your head above water.
Ask yourself this. If you could eliminate your debt without permanently damaging your credit, why wouldn't you?
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| Bankruptcy is not your only option! Our goal is to help you determine the right course of action for you to take. We will connect you with a debt settlement company today that will help you avoid filing for bankruptcy protection. |
Are your finances spiraling out of control? Get the information you need today to stop harassing creditor’s phone calls. Total Debt Relief provides a matching service to connect you with pre-screened Debt Settlement Professionals.
These debt management pros will educate you on all of the options available to you to get out of debt. Total Debt Relief helps you make the most informed decision possible so that you can get your financial life back on track. |
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