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Is Credit Counseling Right for You?

There are many companies who advertise the ability to help you get relief from overwhelming credit card debt. The promises made by these companies can be very appealing, particularly in times of financial hardship. But before you turn to an outside agency to help you get out from under debt, be cautious of those that are for-profit. These agencies tend to prey on people who feel they have nowhere else to turn. Instead, look to a non-profit credit counseling agency. A non-profit credit counseling agency can help you relieve debt while avoiding the stigma of bankruptcy or debt settlement, and unlike other agencies, non-profits work for you and not a profit, so your needs and best interests come first.

Debt Management and Budget Management Assistance

Credit counseling is an excellent option for people who are suffering under the weight of credit card debt and are ready to learn how to budget and stick to that budget. Counselors at a non-profit credit counseling agency will work to get a solid understanding of your financial situation in order to help create that budget, and they may even suggest a debt management plan if it is appropriate for your current financial situation. Through a debt management program, you still make regular monthly payments in order to pay down your debt, but you make payments to your credit counseling agency rather than the creditors themselves. This way, instead of writing multiple checks to multiple creditors, you now only need to write one. Your credit counselor will, in turn, disperse payments to each of your creditors.

Non-profit credit counselors have good working relationships with credit card companies, so they step in to work with creditors on your behalf. With a credit counselor on your side, you no longer need to worry about frightening phone calls from your credit card companies or, worse, collection agencies. Your credit counselor can also work with creditors to negotiate lower interest rates or even eliminate interest altogether. They are also often able to negotiate lower monthly payments to make debt repayment more affordable for you.

Contact Advantage CCS for Advice

Through credit counseling at a non-profit agency like Advantage CCS, counselors will help you get to the root of your financial problems to develop a plan tailored to you and your needs. Through budget management and financial planning, Advantage CCS can help rebuild your credit, improve your score and get you back on track to a secure financial future.