Credit Counseling - California
In this tough economy, many residents in California and nationwide are struggling with credit card debts and other forms of unsecured debts (like medical bills, department store charges, or utilities). If you are also overwhelmed with credit card debts, there many debt relief options available - including debt consolidation or consumer credit counseling, debt settlement, or even bankruptcy.
Many consumers have made both options popular alternatives to bankruptcy, which is also a form of debt relief, but one that can cause a more damaging and longer lasting impact on your credit rating.
Credit Counseling - Debt Relief
If you're like many Americans struggling with high-interest credit card and unsecured debts, there are debt relief programs that may help you regain financial control. One approach is debt consolidation through credit counseling, which allows you to combine all your credit card and unsecured debts into one, more structured, and more manageable payment plan.
To see what debt relief could do for you, and how much you could save, get your free relief analysis along with a free savings quote. Simply answer a few, basic questions to get started.
Types of Credit Counseling Services
Due to the sheer number of Americans trapped in their own debt crisis, the debt industry has grown leaps and bounds. One of the results is the proliferation of different types of debt relief services, including credit counseling, non-profit debt consolidation, or Christian credit counseling--which offers debt relief guidance based on principles from the Bible.
But regardless of the type of organization you choose, the services provided are generally similar. What debt consolidation typically involves is combining, or "consolidating," your unsecured and credit card debts into a single, more structured, and easier-to-manage monthly payment made to a credit counseling agency. The credit counseling agency then distributes those funds to your individual creditors.
The goal is, with a successful debt consolidation or debt management program (DMP), you can direct more of your funds towards paying off the principal of your debts versus just the interest.
Debt Consolidation: What to Expect
When you enroll in a debt consolidation program, a credit counselor will review your outstanding debts (credit cards and unsecured debts) and determine how much money you could reasonably allocate to paying off those debts. Then, they typically request your individual creditors for a more affordable repayment plan, meaning, one that includes reduced interest rates, or waiver of late fees and penalties. Creditors that agree to extend these proposals are then placed into the debt management plan.
With a more lenient and more structured payment plan, you could, ideally, pay off your debts sooner than if you only continued to make the minimum monthly payments.
See how debt relief can help you. Answer a few, simple questions to get a free debt relief estimate and savings analysis - at no cost to you.
Freedom from Debt
For Californians in need of debt help, there is a variety of debt relief options available, including debt consolidation through a credit counseling agency. With this approach, you can, hopefully, pay off your debts at a more accelerated and more predictable pace--provided you follow the plan faithfully.
To find out how debt relief could help you, request free debt relief analysis and free savings estimate.
Answer a few questions now to get started.