Why keep struggling to solve credit card debt problems on your own? Talk to a certified credit counselor to find the solution you need!
Sleepless nights, constant stress, fights at home, lack of focus at work – nothing good comes from credit card debt problems. And they can be impossible to solve on your own. You don’t know which solutions to use and it’s hard to tell what will work for you. That’s where non-profit consumer credit services come in!
What do credit counseling services do?
Non-profit credit counseling services offer some key advantages:
- They provide a free debt evaluation to see where you stand.
- The credit counselor helps you compare options, based on your credit and budget.
- If a debt management program is the best solution to use in your situation, they help you enroll.
- Then they negotiate with creditors and debt collections on your behalf.
How do credit counseling services help debtors handle credit problems?
Problems with high interest rate credit card debt can lead to severe credit damage. Missed payments, charge-offs and collection accounts all drag down your credit score. Credit counseling services help you stop the damage by finding a solution that can work fast.
If you’re eligible for a debt management program, it allows you to pay back everything you owe; you just do it in a more cost-efficient way. This can actually improve your credit score by helping you eliminate debt and build good credit history.
Should I use a credit counseling service?
Credit counseling is the right solution if:
- You owe more than $10,000
- Most of your debts are with the original creditors (i.e. not charged off)
- You aren’t sure of the right solution to use in your situation
Unlike solutions like debt consolidation loans, you don’t need a good credit score to use credit counseling. You can also use credit counseling to solve big debt problems, where you owe $50,000 or even more than $100,000.
Are consumer credit counseling services free?
Debt.com only connects you with the top non-profit credit counseling agencies. That means the initial debt consultation and any advice they give is free. You only pay fees if you enroll in a debt management program.
These agencies work because they’re funded by credit card issuers. Creditors fund credit counseling agencies using grants, so the agencies can help their customers get out of debt. That’s also why working with an agency is effective. They have established relationships with all major creditors. So, they can negotiate lower interest rates than you can on your own.