Consumer Debt Counseling - Credit Card Help Or Collection Company in Disguise? Part III
Know What You're Getting: Avoid Costly Mistakes As with any major financial decision you make, it pays to thoroughly investigate your options and get a full understanding of both the positives and the potential negatives you may face.
A major reason for the failure rate of these plans is that many Americans, desperate for some kind of solution, jump blindly into an agreement with a consumer debt counseling firm.
Unfortunately, the anecdotal evidence that exists seems to indicate the vast majority of people who make this decision eventually come to realize it wasn't all they had hoped it would be...
and drop out of the programs.
Because of this they end up spending thousands of dollars toward a solution that doesn't really work for them and then they're forced to look for (and pay for) another solution.
You can avoid this mistake by understanding the following, when it comes to consumer debt counseling here's what you're NOT getting: - You're NOT getting a fresh start and wiping out your debts (it's a repayment plan) - You're NOT getting credit repair (it's simply not part of the process) - You're NOT getting a reduction in the balances you owe (at best you'll get lower interest rates) - You're NOT getting a fast solution (typical plans take 4-7 years to complete) Who's Consumer Debt Counseling Right For? Of course opinions vary but, if you only need a little help, you're not in a hurry, you don't care about how your credit scores may be affected and you feel a simple repayment plan is all you need, but you don't feel competent enough to negotiate a plan for yourself, then using a debt counseling service may be the ticket.
But, if you have $25,000 or more in credit card debt and you're hoping for a solution that actually gets rid of your debts (not just re-structures them into a different payment plan).
And you're looking for a program that basically gives you the opportunity for a fresh financial start in as little as 12 to 18 months and even restores your credit scores back into the 700's after you're done with the process, then...
it's NOT right for you.
The good news is, you do have options available that can zero out your debt legally and quickly.
It's not debt settlement, not debt negotiation, not debt acceleration, not bankruptcy or any other old school method.
It's a unique and effective program, utilizing a combination of little-known Federal Protection laws, aimed at getting you back into financial shape as soon as possible.
A major reason for the failure rate of these plans is that many Americans, desperate for some kind of solution, jump blindly into an agreement with a consumer debt counseling firm.
Unfortunately, the anecdotal evidence that exists seems to indicate the vast majority of people who make this decision eventually come to realize it wasn't all they had hoped it would be...
and drop out of the programs.
Because of this they end up spending thousands of dollars toward a solution that doesn't really work for them and then they're forced to look for (and pay for) another solution.
You can avoid this mistake by understanding the following, when it comes to consumer debt counseling here's what you're NOT getting: - You're NOT getting a fresh start and wiping out your debts (it's a repayment plan) - You're NOT getting credit repair (it's simply not part of the process) - You're NOT getting a reduction in the balances you owe (at best you'll get lower interest rates) - You're NOT getting a fast solution (typical plans take 4-7 years to complete) Who's Consumer Debt Counseling Right For? Of course opinions vary but, if you only need a little help, you're not in a hurry, you don't care about how your credit scores may be affected and you feel a simple repayment plan is all you need, but you don't feel competent enough to negotiate a plan for yourself, then using a debt counseling service may be the ticket.
But, if you have $25,000 or more in credit card debt and you're hoping for a solution that actually gets rid of your debts (not just re-structures them into a different payment plan).
And you're looking for a program that basically gives you the opportunity for a fresh financial start in as little as 12 to 18 months and even restores your credit scores back into the 700's after you're done with the process, then...
it's NOT right for you.
The good news is, you do have options available that can zero out your debt legally and quickly.
It's not debt settlement, not debt negotiation, not debt acceleration, not bankruptcy or any other old school method.
It's a unique and effective program, utilizing a combination of little-known Federal Protection laws, aimed at getting you back into financial shape as soon as possible.