Article Side

Online Article Directory!

Hello Guest! Login or Register to submit articles!

Get Help with Consumer Credit Counselling

By Andersons Subscribe to RSS | December 17th 2011 | Views:
loading
 
  



If you are worried about debt collectors and can’t develop a workable budget there is a solution to help solve your money problems. Contact a trained credit counsellor to help you manage your current financial situation. Credit counselling might be the perfect solution for you.

Consumer credit counselling is a free service to help you manage your finances and get debt under control. It is also commonly known as credit counselling and debt counselling. Often these are services are provided by not-for-profit credit counselling agencies. Credit counsellors are accredited debt management consultants who help with personal budgeting and educating you on how to understand and control your finances to avoid more money problems in the future. Their services can also include debt settlement and negotiation with creditors through a debt management plan.

Hiring a counsellor to negotiate a debt management plan for you is great, especially if you:

• Have a fair income but do not earn quite enough to pay off all your debts at full interest

• Need help in negotiating with your creditors

• Have a credit card and bank loan debt totaling under $5,000

• Don’t qualify for a debt consolidation loan but you want to eliminate your debts

There are many great credit counsellors in Canada. All you have to do is research carefully—especially to ensure their services are provided through a not-for-profit credit counselling agency. Once you find a company, call and speak with a counsellor and set up an appointment. Before you meet gather all of your records so the counsellor can review your financial situation with accuracy.

In addition you may be asked for information required to process a credit report so your counsellor can determine if your credit history contains errors that can damage your credit score. The credit counsellor will recommend a plan to help you solve your current financial situation and explain everything in detail. Your session is completely confidential and free of charge with a not-for-profit credit counselling agency. From there follow the plan discussed and you are on your way to becoming debt-free.

Credit counselling professionals can also help with household budgeting by presenting you with a plan on how to spend and save money in the most efficient way. Counsellors will require some information about your income, your debt(s) and your assets. Your counsellor will also have to know how much money you owe and to whom, and how much can you afford to pay each month.

In situations where budgeting isn’t enough the credit counsellor may recommend a debt management plan. Your counsellor will contact creditors and negotiate plan where you agree to repay your debts, in full, over a period of three to five years. Your creditors in return will agree to stop all collection activities and usually agree to cancel all future interest. You pay the counselling agency one monthly payment and on your behalf they pay your creditors.

One thing that needs to be clear is credit counselling and debt management plans may not work for everyone. It might not work for you if you are not employed or don’t have a stable income. Also, it may not work if you cannot afford to pay all of your debt in full within five years, even with interest relief.

If you can’t afford to pay all of your debts in full, a better option might be a consumer proposal. That way you can still negotiate repayment of your debt with your creditors by agreeing to pay at least a partial amount. If you can’t afford even that, personal bankruptcy might be the only option. Before you reach that conclusion, though, seek advice from a trained credit professional and let them help you!

Andersons - About Author:
Through education, credit counselling and debt management, http://www.consolidatedcredit.ca can help you get out of debt more rapidly. Find additional info pertaining to Credit Canada right away!

Share on Facebook Tweet It Stumbleupon this post This post is delicious !

Article Source:
http://www.articleside.com/finance-articles/get-help-with-consumer-credit-counselling.htm

Related Finance Articles Subscribe to RSS

Setup your own backend debt settlement office
Published by John Taylor on December 26th 2011 | Finance
It’s best to pass on all your tax settlement issues to a competent tax settlement backend. These b...
 
Do you need assistance with financial debt that has been around for decades?
Published by Deby Suportie on February 16th 2012 | Finance
Debts can often be difficult to manage especially when it has been around for quite a while already....
 
Profits of using TAXAS debt relief
Published by James Blee on February 14th 2012 | Finance
In economics language, Debt relief means to get relief from all the debts. Today, In USA debt relief...
 
The right way of outsourcing debt settlement
Published by John Taylor on December 15th 2011 | Finance
Those that are marketing debt resolution services, after a period may find, that there are far too m...
 
Solving debt problems in the 21st century
Published by Deby Suportie on April 3rd 2012 | Finance
The number of people with debt problems continues to increase year after year. Even individuals who ...
 
Bank debt settlement in America
Published by Govindsingh on June 26th 2012 | Finance
For you to get out of debt settlement bad during settlement of debt in bank is very important. Cashl...
 
How to live free of debt in California
Published by Rajkumar Kaushal on May 15th 2012 | Finance
You must have seen debt settlement tips today or days back online. This is debt information for the ...
 
Simply what does debt elimination signify and how can debt management programs help you become free of debt?
Published by Deby Suportie on April 4th 2012 | Finance
Debt elimination is a service given by debt management plans to provide assistance to those who are ...
 
HOA management- Capable providers for financial as well as property management
Published by Ema Sis on January 12th 2012 | Finance
HOA management companies shall be actual asset for communal administration amenities. They undertake...
 
Caravan Loans - Helps You to be in debt Caravan Loans
Published by Mark Fulton on February 3rd 2012 | Finance
Caravan Loan is extremely well-liked these days, insist in increasing and is basically liked car fi...
 
Credit card debt Relief- There is Hope of Relief Yet
Published by James Blee on December 22nd 2011 | Finance
Some people after receiving their credit cards do not know how to use them wisely. As they are easy ...
 
Maryland debt settlement centers
Published by Rajkumar Kaushal on May 30th 2012 | Finance
Maryland Tips and management in debt settlement centers is one of the management of debt that Tips a...
 
Overcome student debt at the earliest with professional assistance
Published by Peter Paul on December 22nd 2011 | Finance
Student debt can leave you devastated. It can hamper your entire professional and financial future i...
 
Blake cab offer some of the most reliable debt collection agency results of any business of its kind in the UK
Published by Mary Porter on July 12th 2012 | Finance
If you have incurred lost monies then here at Blake debt collection industry we have the experience ...
 
Credit Counseling: Your first line of defense against crushing debt
Published by CVGiCanada on January 11th 2012 | Finance
Your Toronto credit counselor is someone you have to have a great deal of trust in. These profession...
 
Debt management plan why to opt for one
Published by Ashish Pandey on February 2nd 2012 | Finance
Debt management plan when used properly can help you to get the best of debt solutions....
 
Top tips for money management and using a credit card
Published by Jesse Wallace on June 6th 2012 | Finance

Learning how to use your credit card effectively could help you balance and manage your debts....
 
Before you make proposal for debt settlement
Published by Rajkumar Kaushal on April 27th 2012 | Finance
How would the world look without making debt Settlement proposal? The answer is not far-fetched beca...
 
Financial Planner: Time to do savings through smart management
Published by Avena Sowell on December 21st 2011 | Finance
Financial planning can help one to manage the financial resources optimally and thereby generating h...
 
Writing a review on debt settlement
Published by Rajkumar Kaushal on April 30th 2012 | Finance
Have you been having problems with your Debt Settlement reviews Now your worries will now be a thing...