Can you reduce debt with credit counseling? Yes, you can. If you feel overwhelmed by debt, there is hope! Many people who struggle with a heavy debt-load have wondered how to break free. While credit counseling is not the only debt relief solution offered, it may be the perfect solution for you. Below are 5 ways that credit counseling can help you today. A free consultation with a credit counselor will help you determine the best course of action. What do you have to lose?
Reduce Debt With Credit Counseling
- Credit counseling will help you make a wise spending plan: The first course of action when speaking with your counselor will be to go over your income and expenses and create a spending plan that you can stick with. They will help you determine the payments needed to eliminate debt and start building a better financial future. You might be able to do this on your own, but many people find great benefit from the insight and experience of a licensed credit counselor assisting them in this process
- Credit counseling will offer you options to pay off your debt: There are a variety of options that your counselor may recommend to help you eliminate debt. A self-help option might be the best fit for you. They can provide you with educational tools to guide you in the process. A Debt Management Plan might make sense for your situation and they can explain, in detail, what you need to know. Whatever the situation, your credit counselor will be able to recommend the best option to help you.
- Credit counseling will provide you with educational support and tools. As you work to get out of debt, your success can be enhanced by the educational support and tools you are offered. Items like a financial education curriculum, financial education blogs, client services reps to answer your question or even online account management will help you stay on track.
- You can pay off your debt more quickly with credit counseling. For those stuck in an endless cycle of minimum payments that don’t seem to be getting you anywhere, credit counseling can help you finally begin to see some results. When making minimum-only payments at high interest rates, you may pay on those accounts for many years without seeing progress. Your credit counselor can negotiate with your creditors to help you get benefits that could include lower monthly payments, reduced interest rates and eliminated fees. The benefits you receive will be determined by your creditor and can finally get you moving in the direction of a debt-free life!
- Credit counseling may help you avoid bankruptcy. For some people, bankruptcy is an option that makes sense. It may even be the only option available in certain situations. But for some, bankruptcy is not the best choice. Your credit counselor can help you fully understand all the options available to you and avoid bankruptcy, if possible. With an option like a Debt Management Plan, you can pay off all your debt and avoid the consequences of a bankruptcy filing.
The bottom line is that you have nothing to lose by seeking the expert advice of a credit counselor. They are trained to help you find a solution for your debt trouble and you won’t even have to pay for a consultation! If you would like to speak with one of CESI’s counselors, contact us today. Get started and reduce debt with credit counseling.
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