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How Does Credit Counseling Work and Is It Right for You?

Credit Corp

Credit counselors are trained professionals who help individuals and families work to get a handle on their debt so they can lay a stronger financial foundation for the future. How does credit counseling work? It’s also important to do your research to make sure you are working with a legitimate, certified credit counselor.

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You’re in Debt: 9 Terms to Know

The Kaplan Group

Credit Counselor. A credit counselor is certified and trained in consumer credit, money and debt management, and budgeting. Counselors can discuss your entire financial situation with you, and help you develop a plan to solve your money problems. Debt Settlement Services. Garnishment.

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Need Debt Relief? Here Are Your Options

Debt Guru

Bankruptcy. You’ve probably heard of people filing for bankruptcy but may not understand how it works for individuals who are in debt over their heads. There are two forms of bankruptcy: Chapter 7 bankruptcy is when you go to court and ask that all of your outstanding debt is discharged. Debt Settlement. Debt Management.

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How to Get out of a Debt Spiral–11 Easy Things to Do [TODAY]

Credit Corp

First, look at your credit report. Next, you have to check your bank and financial statements to get an idea of your net worth. Look at your credit card statements and bank statements to know how much you have spent money and where. Credit counseling agencies offer this plan in exchange for a fee.

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Credit card debt is surging at a record-high rate

Collection Industry News

If you’re just making the minimum payments on your credit cards, it may be worthwhile to consider one of these debt repayment strategies. Americans are racking up credit card debt at a record-setting pace, according to the Federal Reserve Bank of New York. Negotiating with creditors to lower your interest rates and waive fees.

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Amid coronavirus economic recovery, Ohio can help prevent a consumer debt crisis

Collection Industry News

No doubt, delinquent consumer debt will cause bankruptcies and foreclosures, flooding our courts and weakening our communities. The government established a centralized response involving not-for-profit counselors and lenders to create a smooth system for consumers, and it worked. Consumers are scrambling for relief from creditors.

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How to Get a Repo Off Your Credit: 7 Effective Removal Tips

Credit Corp

It also gives you the right to know if negative information in your credit report is used against you in future loan or credit applications. 2: Review Your Credit Report If a lender repossesses an asset, regardless of type, requesting a copy of your credit report is a good idea. Contact the company responsible.