Credit Debt Counseling Services

There is a growing number of credit debt counseling services in this country today. That is a result of the growing financial recession along with the failing mortgage market. It's no surprise that with this growing opportunity comes increasing abuse. Sadly, there is currently no government regulation of these agencies, so it's up to the consumer to make sure they're dealing with a reputable service. Some can, indeed, teach you to live within a budget and begin to repay debt and restore your credit rating. Others may even be able to help you consolidate debt and lower interest rates. But no credit debt counseling services can reduce your interest rate 50% or more and settle a debt for less than the amount owed unless you have already missed several payments and your credit rating has crashed. Avoid those agencies that use TV ads or phone soliciting. Don't agree to high fees. Anything higher than approximately $20 is probably out of line. And don't trust a service that promises to "wipe out" your debt. You may need a lawyer to help sort through your options.

Fast Facts

  • The average interest paid for an American household is nearly $1,000 per year.
  • It is estimated that 96% of all Americans will have to rely on charity, their family, or the government for financial support when they retire.
  • Estimates indicate that 1 out of every 100 households will declare bankruptcy at some point in their financial life.

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  • Handling Chapter 7 Bankruptcy Debt

    Chapter 7 is the “nuclear option” of bankruptcy—essentially, you sell pretty much everything you’ve got and tu...
    • Site: debtsettlementlawyers.com
  • 4 Credit Card Debt Solutions

    A large proportion of credit card users utilize their credit cards as a loan account and end up in high credit...
    • Site: filingforbankruptcyonline.com
    • 2 of 2 user(s) found this useful
  • Credit Card Debt Settlement Services

    Struggling with large amounts of consumer debt is nothing new in this country....
    • Site: debtsettlementlawyers.com
  • Debt Reduction Planning and Services

    There are many, many debt reduction service companies or “plans” out who are there ready, willing and able to ...
    • Site: lawfirms.com
  • Debt Relief And Debt Settlement Services

    Debt settlement services can include those companies and individuals who help you to settle your debt for less...
    • Site: debtsettlementlawyers.com

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