How many people have used Consumer Credit Counseling and what did you think?
Friday, February 26, 2010 9:36
Posted in category Credit Counseling
I am preparing an article on what people know about Consumer Credit Counseling. I was wondering what people know about it or think about it.
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Crazy Biceps says:
February 26th, 2010 at 9:37 am
It is a relatively unknown area of discussion and very few people actually take counselling.
Dustie Rhodes USA says:
February 26th, 2010 at 9:37 am
From news articles I’ve read about credit counseling, I believe this is the only reputable website for dealing with credit problems
http://www.debtadvice.org/
it is the National Foundation For Credit Counseling.
victor c says:
February 26th, 2010 at 9:37 am
If you search through the search engines you’ll come across a very interesting 2001 article by Consumer Reports entitled "Pushed Off the Financial Cliff." According to the article, based on a survey that the consumer watchdog group conducted on 1,300 non-profit credit counseling organizations, they concluded that a 79 percent dropout rate from consumers who had enrolled in their debt management plans.
The main reason the debt consolidation offered through credit counseling is merely a band-aid treatment is that getting basic interest rate reduction won’t tackle the root of your financial hardship if you’re struggling to keep up with the minimum payments. But there are various other reasons you will discover after reading the above article….
Another interesting observation is that because of the mediocrity and lackluster success of debt consolidation via credit counseling, far too many Americans were filing for Chapter 7 bankruptcy. As a result, creditors were losing billions of dollars each year and the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA) was passed to make Chapter 7 bankruptcy qualifications more stringent for bankruptcy filers.
A free entitled "SETTLE Credit Card, Medical & Business Debt for PENNIES on The Dollar" which you can download here http://debtfreeleague.com/debt_elimination_book.pdf will give you a much greater perspective on credit counseling and if it’s the right choice to make in your financial circumstance.
A credit counseling alternative, or should I say, debt consolidation alternative I’d like to suggest is the debt settlement benefit offered by the National Debt Relief Stimulus Plan. You can learn more about it at Debt Free League at http://debtfreeleague.com or by calling 800 213 9968.
Loan, Mortgage, Credit Forums and Payday Loans Resource » How many … New just to Me says:
February 26th, 2010 at 11:13 am
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