How and why would you reach out to a credit counselor?
There are a number of benefits for you to seeking out a nonprofit credit counseling agency. Credit counselors are prepared to provide education and understanding about your options for reducing your monthly payment for your unsecured debts (credit cards, store cards, medical bills etc.), HUD housing counseling, Reverse mortgage counseling, and more. The primary reason people reach out to a credit counseling company is to reduce monthly payments through a debt management plans (DMP). A DMP can lower your monthly payments by lowering your interest rates. Credit counseling is seen as the least confrontational way to deal with debts over a predictable and shorter time frame while preserving your credit standing while making one consolidated payment toward your debts.
You can speak with a credit counselor right now. Just dial the toll free number, or fill out the free counseling form. When you are done with the phone call you will know exactly what your bills can be reduced by and have a clear understanding for how consumer credit counseling can provide a clear path to resolving your debts.
By signing up for counseling session, your provided details (Name, Email ID and Phone No.) will be forwarded to the company advertising on the DebtCC. However, you have no obligation to use their services.
Some creditors and collection agencies refuse to lower the pay off amount, interest rate, and fees owed by the consumer.
Creditors/collection agencies can make collection calls and file lawsuits against the consumers represented by the debt relief companies.
Debt relief services may have a negative impact on the consumer's creditworthiness and his overall debt amount may increase due to the accumulation of extra fees.
The amount which the consumer saves with the use of debt relief services can be regarded as taxable income.