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

Bad credit debt consolidation UK
Published by Fresh Finance on January 19th 2012 | Finance
The debt consolidation entails taking out one mortgage to pay off many others. This is done to prote...
 
How creditors help you in learning more about bill and debt consolidation
Published by Joseph Goins on May 18th 2012 | Finance
People facing high bill problems can find a solution and relief through bill and debt consideration....
 
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 ...
 
Taking care of debt settlement
Published by Rajkumar Kaushal on May 12th 2012 | Finance
How do you choose good information on debt settlement bankruptcy in debt settlement? This is one que...
 
Consumers of debt settlement
Published by Rajkumar Kaushal on May 17th 2012 | Finance
Exceptionally debt management and firms Debt information has become synonymous with keeping people. ...
 
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...
 
The best debt consolidation advice
Published by Fresh Finance on January 19th 2012 | Finance
Many cases of multiple charges, including credit card charges, economical credit score items from lo...
 
How can I get Debt Reduction? How can a debt plan help me repay my debts?
Published by Deby Suportie on March 28th 2012 | Finance
Debt reduction is a program provided by debt companies so that those who are struggling with debts c...
 
Preferred Stock- Personal debt and Equity
Published by Isol on August 13th 2012 | Finance
Preferred stock options executes some degree associated with title in a company but by natural means...
 
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....
 
Understanding Christian and credit card debt settlement organizations
Published by Julia Roger on December 14th 2011 | Finance
With increasing debts among the majority of the population, people have started to seek professional...
 
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...
 
Process of debt recovery in turkey within the Turkish law
Published by Rosa on November 26th 2011 | Finance
The process of debt recovery in turkey follows the Turkish Enforcement Law. Any legal entity in fore...
 
Outsourcing debt settlement is the best solution
Published by John Taylor on December 26th 2011 | Finance
If you are in the business of marketing debt resolution services, you should consider outsourcing de...
 
Debt management plan: are they right for you?
Published by William Booker on May 15th 2012 | Finance
Don’t choose any debt management plan unless if suits your demands. Ensure that the program crafte...
 
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...
 
How can i get dependable credit card debt advice and exactly how could it benefit me?
Published by on March 27th 2012 | Finance
Credit card debt advice is a program provided by debt companies to help those people who are battlin...
 
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...
 
Why hire a credit card debt management company?
Published by Yossi A on January 12th 2012 | Finance
As a matter of fact, it not only clears your already existing debt but also offer valuable technique...
 
Articles that make firms better in debt settlement
Published by Rajkumar Kaushal on May 26th 2012 | Finance
Debt articles and firms that care of debtors is one of those debt settlement we see when it comes to...