| WHAT CREDIT COUNSELLING SERVICES OFFER.
"Any one can experience debt problems. The important thing to remember is that you are not alone, you have options. Credit counselling services provides confidential consumer debt counselling services for all."
Generally, a Credit Counselling Program will be able to stop those collection calls almost immeditely
- Free confidential financial counselling, Remember the counselling is free, but ask if they are be taking a commission out of each payment you make.
- Arrangement with creditors, through a debt management program,
- Budget planning,
- Alternatives to bankruptcy,
- Credit rehabilitation
Credit Counselling provides counselling for people in debt and helps devise repayment plans for consumers with financial difficulties. It offers guidance on money management, help arrange repayment schedules affordable to the debtor and acceptable to the creditor, assist in developing personalized budgets and advise on bankruptcy procedures.
| |
Is There an Alternative to Credit Counselling? You might consider a credit counselling program now which will stop creditors from harassing you.
You can then investigate a formal consumer proposal or bankruptcy.
Consumer Proposals permit you to make a proposal to your creditors to pay off your debts.
Consider that a formal consumer proposal or bankruptcy may well permit you to recover a good credit rating much faster than credit counselling. Negative credit items remain on your credit report for to seven years. This would include the records of your credit counselling and a list of your "bad debts." Bankruptcy will "cancel" your debts with strict provisions. It also remains on your record for up to seven years, but you may well be able to re-establish credit after a couple years.
Know that the banks and credit card companies fund most credit counselling agencies. This makes economic sense since it helps save the banks the high costs of collections.
 BEWARE: Credit repair operations are scams.
|
Credit Contents