Credit Corp

AUGUST 24, 2021

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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Nexa Collect

JUNE 21, 2023

Legal Action : The creditor or collection agency may file a lawsuit against you to recover the debt. This can lead to wage garnishment, bank levies, or liens against your property. Increased Debt : If you ignore the debt, interest and fees may accumulate, potentially increasing the total amount you owe.

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The Kaplan Group

OCTOBER 19, 2020

You may also be responsible for paying the costs of the creditor hiring a collection agency or legal costs. Credit Counselor. A credit counselor is certified and trained in consumer credit, money and debt management, and budgeting. These provisions mean that you may owe interest on unpaid debts. Garnishment.

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Credit Corp

MARCH 16, 2021

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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Collection Industry News

FEBRUARY 21, 2022

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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Debt Guru

AUGUST 30, 2021

This type of bankruptcy stays on your credit history for 7 years. Most credible credit counselors warn consumers to stay away from debt settlement because it can further damage your credit score and isn’t even a guaranteed relief from your debt. If you stick with the payment plan, the remaining debts will be discharged.

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Collection Industry News

AUGUST 25, 2020

Consumers are scrambling for relief from creditors. But as in the 2008 crisis, most creditors are ill-prepared for the dramatically increased demand for customer service. The government established a centralized response involving not-for-profit counselors and lenders to create a smooth system for consumers, and it worked.

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