Many who are deep in debt struggle to find answers to their financial questions:
Fortunately, your debt relief options include speaking with a credit counselor, who can provide you with financial insight and recommendations on how to proceed with paying back your debts.
The ultimate goal of credit counseling is to provide individuals with advice and resources on how to gain control over their finances. With the help of a credit counselor, those seeking credit counseling will review their current financial situation, discuss any concerns, and implement strategies to achieve their money goals. Credit counselors use a variety of tactics to help their clients, including budgeting tools, debt counseling and debt management plans.
You should expect your first credit counseling session to be somewhere between 30 and 60 minutes long. You’ll discuss a variety of financial topics, so it’s best to have the following information ready:
In addition to bringing copies of your creditor statements and collection letters, be prepared to answer any questions about your current budgeting and spending habits.
After reviewing your financial information, your counselor will determine if there is anything that can be taken care of immediately with the help of budgeting and changing spending habits. A debt management program may also be suggested, which involves your counselor contacting debtors on your behalf to attempt to extend your terms and negotiate lower monthly payments.
There are a variety of credit counseling programs to choose from, including those offered through the following:
When researching your credit counseling options, it’s important to work with a trusted group. Look for credit counselors who are members of the American Fair Credit Council (AFCC) or the National Foundation for Credit Counseling (NFCC), as they adhere to strict standards and regular audits. You should also check to see that your credit counselor is in good standing with the Better Business Bureau.
Reputable credit counselors will be transparent with their costs, so it’s wise to avoid organizations that charge you an upfront fee before providing you with any information. Credit counselors should also be willing to work with you no matter the size of your debt, as they’re meant to be a trusted resource and financial advocate.
Credit counseling isn’t restricted to those who are already drowning in debt; if you are interested in planning ahead for financial success, a credit counselor can provide you with more information and answer any financial questions you may have. Whether you’ve just received your first credit card, want some budgeting guidance, are just beginning to struggle with card payments or are handling more debt than you can manage, credit counselors can assist you and point you in the right direction.
It’s important to remember that although credit counseling services can work with creditors to reduce your monthly payments, they can’t reduce the total amount of debt that you owe. If you’re looking for ways to negotiate with creditors and reduce your overall debt, you may instead seek help from a debt settlement company.
Accredited Debt Relief provides debt settlement options to individuals throughout the U.S., and is often able to reduce the total amount of debt that their customers owe, which helps them pay off their debts quicker. Contact us to learn more and receive your free, no obligation consultation.
© 2020 Accredited Debt Relief. Please note that all calls may be recorded or monitored for quality assurance and training purposes.
* The company is an affiliate of Beyond Finance, Inc. Beyond Finance, Inc., is a servicing provider for most debt consolidation services offered by the company. Beyond Finance's clients who make all monthly program payments pay approximately 68%-75% of enrolled debt (including fees) upon successful program completion. Programs range from 12-48 months. On average, Clients receive their first settlement within 4-6 months of enrollment. Not all Clients complete the program. Estimates are based on prior results and may not match your results. We cannot guarantee that your debts will be resolved for a specific amount or percentage or within a specific timeframe. We do not assume your debts, make monthly payments to creditors or provide tax, bankruptcy, accounting, legal advice or credit repair services. Program is not available in all states; fees may vary by state. The use of these services will likely adversely affect your credit. You may be subject to collections or lawsuits by creditors or collectors. Your outstanding debt may increase from the accrual of fees and interest. Read and understand all program materials prior to enrolling. Additional information for Maryland residents, click here.
Certain types of debts are not eligible for enrollment. Some creditors are not eligible for enrollment because they do not negotiate with debt consolidation companies.
The company and its affiliates are not lenders, creditors, or debt collectors. This is not a loan. Referral arrangements with our partners make it possible for you to apply for a loan. Annual Percentage Rates provided by partners range from 5.99% to 35.99%.
Testimonials reflect the individuals' opinion and may not be illustrative of all individual experiences the company or its affiliates.