Some people turn to help when they are in debt. But how true and honest, these financial companies? Maybe you found out the credit counseling that you found from newspapers and magazines promoting ads.
Even better, you will find that it is marked as a non-profit community service. You might think that this is a good company. Truth be told, it would be better as this credit card company call collection agencies.
One would expect a high quality advice regarding your credit card debt. But unbeknownst to you, this very company you are talking financed by the creditors! They collect fees on commission system. Are they not the same as collection agencies? Your main method is to distract people like you (in debt) in order to approach counseling consultation under the guise of debt. But if you do pay for consulting fees, you will actually pay your hard earned money to various creditors.
The company we would simply advise you to go on a repayment plan. In this way you will be paying 3% (for example) your loan balance back to the company!
Now that you know these companies do not provide you with quality services as they had claimed, what should you do? You have to be smart about how "professional help". There are ways around that just asked to blindly go for counseling. But now, at least you are at least able to understand the truth about some, if not most agencies suck dry place to help you.
While these are some hard facts, there are some advice and tips that you should consider. If you simply do not have the time to manage your finances, then get help from professional credit counseling makes sense. Since your money is already tight, you might think that hiring these people cost more money. But fortunately, these are the people to understand your own problems. In the short term, you need a little (getting help from financial service companies) to spend to generate long-term benefits (getting out of debt and getting richer).
The problem is, as you know, the credit counseling service is available from any good at all? A very important rule is to know all the fees and services involved in the first place. You must know all this at your fingertips. You also need to ask whether their services on debt management or not to renew. Ask them if they have a free trial of consulting your financial problems or not. They are financed by a combination of third party? What kind of training they have gone through? Are they certified by the right institutions?...
Thank you for coming in Credit Counseling Reviews and read the article about: The Independent Truth About Credit Counseling Service, help us to Shared this article. hopefully useful to us all.
