3 Important Facts About Credit Counseling & Debt management
Author: William Hauselburg
Debt management and credit counseling are very popular in the States today. With the credit card crisis on the rise, the credit counseling services are becoming indispensable. Goingt o a Credit counseling service is a good choice for managing personal and commercial debts properly. With the increased demand for credit counseling, many debt management firms have popped up through the recent years. You can find a debt management firm easily.
However, when it comes to finding the best, there are several factors that have to be considered. You will be well aware of the fact that all the credit counseling programs function based on the basic principle of help the borrowers to settle their debts with smaller monthly payments. However, today with huge competition out there, the debt management firms are offering various advanced services. It is very much necessary to know the facts about the modern credit counseling services. In this article we have presented the 3 must know facts about modern credit counseling and debt management programs.
1. The Many Services Offered by the Debt Management Firms
As already said, huge competition in debt management sector has forced firms to provide unique credit counseling services. Today, services ranging from small budget counseling to debt management training for corporate companies are available with debt management firms. Hence it is always good to look for an organization that provides the ranges of credit counseling services that best fit your needs.
2. Checkout the credit counseling laws in your State
The huge demand for the credit counseling services created a sudden outbreak of a large number of scammy debt management firms. These fraudsters used to charge huge fees from the clients by offering false promises. To prevent these fraudulent companies from swindling the people money, the Government has made it mandatory to get the licensing for providing credit counseling in the States.
Separate licenses have to be obtained for different credit Counseling services. For example, if a firm provides credit counseling and Pre Filing Bankruptcy Counseling, they should have the license for both the services. Advantageccs is a debt management firm which holds the license to provide Pre Filing Bankruptcy Counseling in Alaska Arkansas, California Florida, Hawaii Indiana, Kentucky Louisiana, Nevada New Mexico, New York Ohio, Pennsylvania South Dakota, Tennessee Texas, Utah Washington and West Virginia Wyoming.
3. There are many free counseling service providers too
Most of the debt management firms offer free counseling services today. These firms offer free counseling once you join some of their debt management plans. The fac that the counseling is free doesn’t mean that it is useless. Due to the tough competition in the field, the debt management firms are providing the very best free counseling to the clients.
Debt management has seen lots of changes through the recent years. Keeping a track of the changes will help you to find the best debt management program.
Article Source: http://www.articlesbase.com/mortgage-articles/3-important-facts-about-credit-counseling-debt-management-845393.html
About the Author
The Author of this article is an expert financial advisor. He has provided the much needed assistance to people around the Globe in finding the best credit counseling services. With his vast knowledge in Debt Management and Foreclosure he has written many articles regarding Housing Counseling in Texas.
credit card math help?
With a credit card you are able to receive money, goods, or services in the present, in exchange for a promise to pay in the future.
True
False
2: Minimum payments are a trap; they are often designed so that it takes months or years to pay off the balance.
True
False
3: The adjusted balance is a measure of the cost of credit, expressed as a yearly rate that must be disclosed before you become obligated on the account and on your account statements.
True
False
4: Federal law prohibits issuers from sending you a renewal or substitute card without your request.
True
False
5: Accurate negative information can generally stay on your credit report for seven years, with certain exceptions.
True
False
6: Realistic budgeting, credit counseling from a reputable organization, debt consolidation, or bankruptcy are all methods of dealing with debt.
True
False
7: Chapter 7, known as straight bankruptcy, involves liquidating all assets that are not exempt. (Exempt items would include items such as work-related tools and basic household furnishings.)
True
False
8: In exchange for an up-front fee, companies which guarantee that applicants will get the credit they want-usually a credit card or a personal loan – are always pre-approved by the FTC.
True
False
9: “Dead Man Walking” was an example of companies scamming citizens out of their social security benefits.
True
False
10: Credit and charge card fraud costs cardholders and issuers hundreds of millions of dollars each year.
True
False
I need a reputable credit counseling coumpany for mandatory pre-filing bankruptcy counseling. Who did you use
Don’t give me a “debt management” of “consolidation” solution as I will report you as a SPAMMER.
I have already begun the paperwork for Chapter 7 bankruptcy and know it will be a long hard road to fix my credit.
This is for those who have already or are in the process of filing for BK or those who know the process well, ONLY.
Fed law requires pre-filing counseling and a “certificate”. I can do the counseling class online which I prefer. What companies have people who filed BK used for pre-filing counseling and and post-discharge counseling?
AND if you think I can get around the BK with the amazing “debt consolidation company” you are about to mention, don’t… it just shows you haven’t read my question and have no idea what the process is all about. I have no other options but to file BK right now.
And please don’t preach to me about the evils of credit or bankruptcy or how great your loan co or debt consolidation co is. I’m experiencing the evils and just want my life back
credit card math help comsumer math?
1: With a credit card you are able to receive money, goods, or services in the present, in exchange for a promise to pay in the future.
True
False
2: Minimum payments are a trap; they are often designed so that it takes months or years to pay off the balance.
True
False
3: The adjusted balance is a measure of the cost of credit, expressed as a yearly rate that must be disclosed before you become obligated on the account and on your account statements.
True
False
4: Federal law prohibits issuers from sending you a renewal or substitute card without your request.
True
False
5: Accurate negative information can generally stay on your credit report for seven years, with certain exceptions.
True
False
6: Realistic budgeting, credit counseling from a reputable organization, debt consolidation, or bankruptcy are all methods of dealing with debt.
True
False
7: Chapter 7, known as straight bankruptcy, involves liquidating all assets that are not exempt. (Exempt items would include items such as work-related tools and basic household furnishings.)
True
False
8: In exchange for an up-front fee, companies which guarantee that applicants will get the credit they want-usually a credit card or a personal loan – are always pre-approved by the FTC.
True
False
9: “Dead Man Walking” was an example of companies scamming citizens out of their social security benefits.
True
False
10: Credit and charge card fraud costs cardholders and issuers hundreds of millions of dollars each year.
True
False
does anyone know about a free or really cheap credit counseling for pre bankruptcy?
hoping to file a chapter 7
25 year old male about 10000 in debt with loans and an insurance claim.
I just finished my bk chapter 7 and used Greenpath Debt solutions for my pre bk counseling. They were very good, and let me have the counseling without paying a fee due to my lack of funds. If you want, you can view my q&a page for details of my experience with this. Or feel free to email me with any questions at hansjill228@optonline.net. Good Luck.
try http://credit-repair.ebookorama.com/ good luck
1. True
2. True
3. False
4. False
5. True
6. True
7. True
8. False
9. True
10. True