Tag Archives: credit counseling agency

Use A Personal Loan Or Debt Management Program To Pay Credit Card Debt?

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Posted by Vedis the DMP Blogger on February 27, 2010 – 4:48 pm
Filed under Debt Management Companies, Debt Management Programs, Questions & Answers

Question: Should I use a personal loan or debt management program to pay off my credit card debt?

I have about $25,000 of debt but can still pay monthly payments on time and have never missed a payment.

If I try to get a personal loan as opposed to a debt management program, which looks better to creditors?? My credit score is around 650-670. I am thinking of going to a non-profit credit counseling agency to see what they think.

I still have some stocks and bonds totaling $6,000. I do get paid consistently and have been trying some internet surveys to make some small money on the side to my job.

What things should I look for at the credit counseling agency?

How To Shed $100,000 Debt With A Debt Management Program (DMP)

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Posted by Vedis the DMP Blogger on September 24, 2009 – 4:33 am
Filed under Credit Counselors, Debt Management Companies, Debt Management Programs

How to Shed $100,000 With A Debt Management ProgramAre you burdened with more than $100,000 debt and thinking if it’s possible to get rid of it with a debt management program (DMP)? Of course, it’s possible.

Let me share with you the Hilderbrandt family’s success story of paying off their debt by consolidating all their payments into one under a debt management plan while changing their lifestyle.

Russell and Kathy Hildebrandt, along with their three children, were honored with the Professional Achievement and Counseling Excellence (PACE) 2009 Graduate Client of the Year Award by the National Foundation for Credit Counseling last week for their 5 years’ hard work and sacrifice to pay off their charge accounts and credit cards.

The Hilderbrandt family of New Richmond, Wisc., was in knee deep debt with personal loans and credit cards amounting to a staggering $106,000 in 2004.

How did they pay off their debt without signing up with any of the countless debt settlement companies that advertise on radio, television and the Internet? Well, they found a certified credit counselor by contacting NFCC to assist them with their debt.

Eliminating Unnecessary Spending. They paid off their debt the old fashioned way by drastically changing their lifestyle. They bought clothing at thrift stores, eliminated gifts, and purchased only generic and store brands at the grocery stores.

That’s not all. They also stopped eating out and often ate hash browns, which they got for free.

Getting a Second Job. Russell sacrificed his sleep for a couple of years by taking a second job. At first their debt didn’t seem to decrease much. But as they paid off one balance, they applied the monthly payment to another, until they paid it off.

Four years and four months later the Hildebrandt family’s debt was finally paid off and they even saved enough money to buy a house in New Richmond.

To avoid falling into the hands of a disreputable credit counseling agency, make sure you find a reputable credit counselor that is certified, is affiliated with NFCC, and charges little or nothing for the service.

Get Debt Management Program Help To Achieve Total Debt Elimination

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Posted by Vedis the DMP Blogger on September 1, 2009 – 4:34 am
Filed under Credit Counselors, Debt Management Companies, Debt Management Programs

Debt Management Program For Total Debt EliminationAre you tired of paying your credit card debt month after month without seeing much progress? If so, it may be time for you to get debt management program help to achieve total debt elimination.

Once you have established your degree of need for debt help, the next step of your debt management program is to decide whether you will enroll in a debt management plan designed for you by a credit counseling agency or do it yourself debt management to achieve total debt free.

If you have made the decision to go debt free through a DMP offered by a credit counseling and debt management company, make sure you opt for a not-for-profit credit counseling agency that is of a member of the National Foundation of Credit Counseling (NFCC) or the Association of Independent Consumer Credit Counseling Agencies (AICCCA).

It won’t be worth your time or effort to choose a debt management company that charges a large monthly fee for their services as your debt problems may get even worse.

By attending a credit counseling briefing, a certified credit counselor will let you know the debt relief solutions available for your situation.

If it is determined that you need a DMP to help you get out of debt, your credit counsellor will contact your creditors in an attempt to stop harassing telephone calls, lower your interest rates, lower your monthly payments, and perhaps stop late fees and over limit fees.

So a debt management program is created to help reduce your overall monthly debt, help you save on interest fees, and improve your credit rating by paying creditors on time.

Take note, though. Before signing a debt management plan contract, make sure the written agreement detailing all the services discussed and the exact costs you will have to pay.

Whether your aim is to restructure your multiple debts into one affordable monthly payment, pay off all your bills sooner than before, avoid late charges, put an end to harassing phone calls from your creditors, save thousands of dollars in interest, lower your monthly payments substantially or avoid bankruptcy, you can achieve it with a debt management plan.

Can You Be Debt Free With Credit Card Debt Counseling?

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Posted by Vedis the DMP Blogger on August 8, 2009 – 2:46 am
Filed under Credit Card Debts, Credit Counselors, Debt Management Companies, Debt Management Programs

With the increasing number of people struggling with credit card debt, credit counseling services have become more popular than ever. If you are one who is also drowning in credit card debt and wants to be debt free, get help from a credit counseling agency.

Of course, not everyone believes that credit card debt counseling can help you be debt free. This has got to do with the many scams reported trying to make quick money from people who are already drowning in debt and desperately in need of debt relief.

As not all credit counseling and debt management companies are genuine and provide good advice, choosing a reliable credit counseling company becomes a critical factor in determining the success of credit card debt counseling.

As a general rule, go for a reputable non-profit credit counseling agency that is affiliated with the National Foundation for Credit Counseling (NFCC), usually known as Consumer Credit Counseling Services (CCCS).

A legitimate credit counseling agency can help you in not just getting rid of your credit card debt, but eliminating it in a way that is so cost effective. In other words, your credit card debt gets to be settled much quicker than if you were trying to do it all by yourself without any credit counseling.

Moreover, getting help from a proper credit card debt counseling can save you a lot of time and energy that you would have otherwise spent on studying all about credit card debt, gathering information about various credit card debt relief options and comparing them.

Further, the various financial solutions such as credit counseling, debt consolidation, debt management programs, debt settlements and bankruptcy provided by the credit counseling company enables you to choose one that appeals the most to you.

There is no doubt with regards to the endless benefits credit counseling can bring to you. However, you have to be careful with fly-by-night companies to avoid being scammed into paying tonnes of monthly service fee and leaving you with more debt than ever.

Debt Free Fast With Credit Counseling Or DIY Debt Management

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Posted by Vedis the DMP Blogger on July 21, 2009 – 5:39 am
Filed under Credit Counselors, Debt Management Companies, Debt Management Tips

Debt Free With Debt Management ProgramAre you deep in debt and struggling to pay even the minimum payments? If so, you had better start using DIY debt management tips to help you get out of debt fast or seek help from credit counseling.

A credit counseling agency, either non-profit or for-profit, offers you credit counseling advice including how to use credit lines wisely; establish a workable budget; keep track of your bills; and best manage your money.

During a credit counseling session, a certified credit counselor will first gather as much information about your income, expenses and debts as possible. Once he has sufficient information from you, he will evaluate the information, discuss your situation with you and offer the most appropriate debt management advice for your situation to help you rectify your financial problems.

If it is determined that participating in an educational class is not sufficient to help you get back on the track to financial security, you will then be recommended to enroll in a debt repayment plan.

Debt management plan is also known as debt repayment plan.

When choosing a credit counseling agency, it’s important that you spend enough time researching and picking the most reputable agency.

Most important of all, look for a credit counseling and debt management agency that has satisfied clients, offers personalized service from certified counselors, educates you how to make appropriate financial choices and provides you with the tools you need to achieve financial security.

Remember, the best credit counseling service agency needs not have a big advertising campaign. Don’t be tempted to think that just because it has a big advertising campaign, it is the best.

A reputable and reliable credit counseling and debt management company normally relies on past clients for referrals rather than soliciting business through constant television ads, infomercials and telemarketing or spam e-mails.

It’s too late for me to be debt free fast with credit counseling or DIY debt management, but it’s not too late for you, right? Don’t wait until you need to enroll in a debt management program, debt settlement plan or declare bankruptcy.