Family Credit Counseling

As the demand for family credit counseling continues to grow around all parts of the United States, many consumers have questions about the practice, but the best way for borrowers to learn more about family credit counseling remains speaking directly with a family credit counseling specialist whether in person or (should they the find their firm of choice through the internet) over the phone. Before rendering any numerical answers or estimates of theoretical savings through the credit counseling program, the specialist in charge of the borrower’s case will want their potential client to provide all of the necessary financial data regarding the household income, the secured and unsecured debts, and the cost of living expenses for their family. It’s vital that no borrowers serious about the family credit counseling system – or any program of debt relief which could be expected to find success in the liquidation of unsecured loans once they have reached a certain size and momentum – tell the whole truth and nothing but to the credit counseling officer charged with aiding the family finances.

Garbage in, garbage out, as they say, and borrowers who fax or email faulty information (whether from sloppiness or intentional misdirection) should not be at all surprised when the family credit counseling program fails to actually meet their needs. Too many borrowers, flush with inspiration and a newfound commitment toward eliminating their credit card debts, make the mistake of over representing their planned family earnings and thereby fatally damaging the integrity of the debt management agenda drawn up. Family credit counseling specialists’ budgetary acumen will only be as good as the numbers they have to work with, and utter honesty is a must. However, in much the same way that borrowers should always be up front and forthright with regard to their personal financial data when speaking with a family credit counseling professional, they should demand nothing less from the family credit counseling professional as well.

In particular, the borrowers should make sure to learn whether or not the family credit counseling company – which will likely charge all clients for administrative functions and their employees’ time regardless of whether or not the family credit counseling firm in question has been officially designated non profit – also requests funds from the credit card companies and other lenders for their services. A remarkably large percentage of the family credit counseling outfits actually (and, believe it or not, legally) double dip fees from both sources for providing the credit counseling services. While the creditors should obviously be delighted to reward the credit counseling company for heading their clientele away from Chapter 7 bankruptcy, the borrowers should at the same time rightfully wonder if the overly cozy arrangement would be the best solution for their own family’s debt relief.

To be absolutely certain, this is not say that Chapter 7 bankruptcy protection as currently regulated would be in the best interest of all but the poorest families with nothing to lose and no credit rating to protect. However, while the threat of bankruptcy primarily serves family credit counseling companies’ own interests (and eventual payday), some of the debt management strategies utilize the lenders’ lingering fears of governmental protection to better aid their clients’ long term goals. Debt settlement negotiation was developed around just this notion, and successful settlement negotiators ultimately convince the creditors they argue against to cut their clients’ debt balances by more than half: which is a far sight more than even the cockiest family credit counseling professional would dare pretend.

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.