Consumer Credit Counseling Helping Many Today

Credit counseling educates consumers about how to repay their debts and better manage their personal finances. This one-on-one counseling is customized to the client’s unique situation. An NFCC-certified consumer credit counselor can help consumers by crafting a new budget and debt repayment plan, all of which is informed by the client’s own financial information. Some clients need the additional help of a formal Debt Management Plan, though the majority benefit from credit counseling alone.

Credit Counseling Explained

Whether they are conducted in person, by telephone, or via the internet, our counseling sessions are confidential and offered free of charge. You submit information about your income, living expenses, and debts, which your counselor will use to create a personalized action plan and budget to help you repay your debts.

What happens in credit counseling?

Gathering Your Information

You supply information about your personal finances.

We recommend gathering your most recent paystubs, credit card bills, household bills including utilities, and an estimate of how much you spend on food and transportation per month.

The more complete and up-to-date your information, the better our advice will be.

Begin Credit Counseling

Discuss your debt and personal finance situation with your counselor.

Your counselor reviews your budget with you and offers targeted advice to help you control your spending.

Your counselor analyzes your debts and educates you about effective repayment strategies.

Create a Plan

Your counselor will prepare a new budget for you based on your unique circumstances.

Your plan will guide you toward repaying your debts.

If your circumstances warrant it, your counselor may propose a Debt Management Plan (DMP).

National Debt Relief Program offers a free debt analysis which can be taken advantage of a their website:

www.nationaldebtreliefprogram.org

Credit Counseling Explained In Plain English

Consumer Credit counseling educates consumers about how to repay their debts and better manage their personal finances. This one-on-one counseling is customized to the client’s unique situation. An NFCC-certified consumer credit counselor can help consumers by crafting a new budget and debt repayment plan, all of which is informed by the client’s own financial information. Some clients need the additional help of a formal Debt Management Plan, though the majority benefit from credit counseling alone.

Consumer Credit Counseling Explained

Whether they are conducted in person, by telephone, or via the internet, our counseling sessions are confidential and offered free of charge. You submit information about your income, living expenses, and debts, which your counselor will use to create a personalized action plan and budget to help you repay your debts.

What happens in credit counseling?

Gathering Your Information

You supply information about your personal finances.

We recommend gathering your most recent paystubs, credit card bills, household bills including utilities, and an estimate of how much you spend on food and transportation per month.

The more complete and up-to-date your information, the better our advice will be.

Begin Credit Counseling

Discuss your debt and personal finance situation with your counselor.

Your counselor reviews your budget with you and offers targeted advice to help you control your spending.

Your counselor analyzes your debts and educates you about effective repayment strategies.

Create a Plan

Your counselor will prepare a new budget for you based on your unique circumstances.

Your plan will guide you toward repaying your debts.

If your circumstances warrant it, your counselor may propose a Debt Management Plan (DMP).

Costs

Credit counseling is provided free of charge.

National Debt Relief offers a free debt analysis which can be taken advantage of at their website:

www.nationaldebtreliefprogram.org

Credit Card Debt Relief And How To Get Started

NEED CREDIT CARD DEBT RELIEF?

If you’re carrying high balances on your credit cards and are seeking some kind of credit card debt relief, National Debt Relief Program can help. Since 1991, their non-profit agency has been providing debt solutions for people just like you. Their professional credit counselors have helped tens of thousands of people with credit counseling, debt management and credit card debt relief. Their debt reduction services can help you pay off your debt faster, usually within five years.

To get credit card debt relief and take the first step toward a debt-free future, contact them today to schedule a free consultation with one of their professionally trained and certified debt relief counselors.

THE STEPS TO CREDIT CARD DEBT RELIEF.

Credit card debt is a significant problem for many Americans. In the wake of the recent financial crisis, many people have watched their credit card debt rise as they struggle to stay afloat financially. National Debt Relief Program specializes in providing solutions and tools to help with debts, showing people just like you how to find credit card debt relief – and how to get out of debt for good.

The first step to credit card debt relief is contact a National Debt Relief Program credit counselor, who will evaluate your finances and get a clear picture of your debt, as well as your income and monthly expenses. Then they’ll work with you to make a plan and to help you create a budget that you can live with while paying down your debt.

Depending on your situation, your counselor may recommend a debt and bill consolidation program that consolidates all your unsecured debts, enabling you to make just one payment each month, and we’ll make payments on your behalf to your creditors.. They’ll also work with your creditors for possible reductions in interest rates on your credit card debt, elimination of late fees and over-limit charges, and to reduce the amount of time it will take to pay off your debt.

WHY CHOOSE NATIONAL DEBT RELIEF PROGRAM FOR CREDIT CARD DEBT RELIEF?

WHEN YOU WORK WITH NATIONAL DEBT RELIEF PROGRAM ON CREDIT CARD DEBT RELIEF, YOU WILL BE ABLE TO:

Save money – their rates are among the lowest in the industry, and they’ll work to help you save even more money through reduced interest rates and fees on your credit card debt.

Get debt relief faster – in most cases, their clients are able to pay off their debt within five years.

Reduce the stress of debt – making a plan to pay off your credit cards and having just one monthly payment can take a lot of the worry and stress out of owing money.

Use their educational resources to learn more about managing your money, creating budgets, avoiding debt and getting answers to questions like “What are credit card debt consolidation loans?” and “How can I improve my credit score?”

National Debt Relief offers a free debt analysis which can be taken advantage of at their website:

www.nationaldebtreliefprogram.org

Debt Consolidation The Proper Way

If you’re having trouble with debt and paying your bills, you are not alone. Although signs show an upturn in the economy, many Americans are deep in debt, and not everyone can work overtime or a second job to pay down that debt. That’s where debt consolidation and other financial options come in.

What is Debt Consolidation?

Debt consolidation is a widely used term that can imply the use of a number of different debt assistance plans that combine multiple debts, loans or payments. There are three main types of debt relief options available: Debt Consolidation Loans, Student Loan Consolidation, Debt Management Plans and Debt Settlement. When done the right way, debt consolidation can:

Lower your interest rates
Lower your monthly payments
Help you get out of debt faster

Debt Consolidation Loans

Consolidating your debts by taking out one large loan or a loan secured against an asset, such as a house to pay off a combination of smaller loans or accounts, is not advised. It uses one lump sum to cover the amount owed on multiple accounts. However, that new loan is now secured. You have just taken an unsecured debt and collateralized it against your home or other personal property. By taking out a new loan, you may qualify for a lower or fixed interest rate and will only be required to make a single monthly payment.

Debt Management Plans

A Debt Management Plan (DMP) is the preferred method of debt consolidation, which many people choose because they can substitute multiple monthly payments with just one monthly payment. A DMP is a type of payment consolidation that could result in lower interest rates to your creditors. This means that you can make one consolidated payment and have that payment split among all your debtors. Utilizing a debt management plan may not hurt your credit score.

The good news is that debt consolidation programs can help you become debt free.

National Debt Relief Program offers a free debt analysis which can be taken advantage of at their website:

www.nationaldebtreliefprogram.org

Credit Card Debt Relief Is Possible For You

To understand credit card debt, it is best to divide the terms and define each one.

A credit card is something that you use to make cashless purchases. When you charge it to your card that means you can take home the items you purchased with a promise that you will pay for it in the future. That refers to a short term future because credit card companies send monthly billings that includes the purchased amount, interest rate and other fees and charges.

A debt has several types and one of them is an unsecured debt. It usually involves a risky short term loan (unsecured loan) that does not require any collateral. The high risk involved means the lender is not guaranteed complete payment on time – or at least they do not hold anything that will guarantee that the borrower of the money will pay them immediately. To protect themselves, lenders do one thing to make sure they are paid back: they charge very high interest rates.

A perfect example of this debt is credit card debts. They have high interest rates which you are required to pay for every month – on top of the principal amount that you borrowed through your spending.

Credit card debt is also a revolving debt because it is an open ended loan. There is no end to it and you keep on paying for it as long as you keep using the credit card. Also, the interest rate is dependent on the balance of the loan and how timely you make your payments. It changes a lot.

Understanding the Interest Rate on Credit Cards

What makes credit card debt very dangerous and financially destructive is its interest rate and the manner by which its payment requirement is systematized. You are deluded to think that you can only pay the minimum amount on your billing statement. What most people do not know is that will put you in debt for a very long time.

Credit card interest rates average to 17% – 20% of the current balance. The minimum payment requirement on the statement includes the interest rate and a very small percentage of your actual balance – usually around 1-2% only. If you keep paying for only the minimum amount, you will be paying for a very long time! And if you total the amount of interest that you have paid for, you will realize how much you have made credit card companies rich!

The average American card holder used to only pay for the minimum payment while continuously making purchases through these plastic cards. That is probably why it is the third highest debt that riddles the average American. Studies show alarming statistics of the average household being more than $15,000 in debt due to credit card purchases.

What you need to understand is that paying more than the minimum payment will actually benefit you in the long run. Here are two different computations that you may want to look into:

By increasing the monthly payments, SUBJ B shortens the payment period for more than half and saves almost $1,000.

National Debt Relief Program offers a free debt analysis which can be taken advantage of at their website:

www.nationaldebtreliefprogram.org

Debt Consolidation and Debt Consolidation Loans – How Do They Work

Debt consolidation can often be a challenging task for the average household. Between the bills that you may already have in place, and your previous debt history, you can find it difficult to find the loans for the repayments you need to be making right now. Worst of all, the longer that you wait to make those payments, the more they can pile up. Interest can compound this problem further, until you find yourself in a spiral with bankruptcy at the bottom.

Don’t let yourself get caught in this trap. Consider consolidating your debt payments with a company that specialize in working with household that are overextended and having problems making ends meet/have bad credit. With our debt consolidation for bad credit, you can get yourself back on the right financial track, with a sturdy foundation to establishing a positive payment history, and your financial future.

Debt is like a messy pet that you forget to lock up before going on an extended vacation. Left free to do what it pleases, it’s sure to make a mess of everything that you hold dear.

While your debts can’t rummage through your clothes closets or eat all the food in your pantry, they can still cause plenty of trouble. In fact, your mounting debts could wind up forcing you to declare bankruptcy.

You may have heard about various debt consolidation agencies that advertise quick relief from your unsecured obligations. Since there are several different methods of debt relief out there, it’s important that you seek out the type of help that’s right for your situation. You need a trusted source of debt consolidation advice to help you do this.

You Can Try To Pay Down Your Debts On Your Own

Don’t believe anyone who tells you that you can’t pay down your debts on your own. It’s entirely possible to muster the financial resources required to shrink and eventually eliminate your balances for good. To do this, you’ll need to pay down your debts one at a time. Begin with a particularly high-interest credit card or loan and work your way down the debt ladder until you’ve paid off your least expensive debt.

This process can save you hundreds of dollars in potential interest charges and reduce your payoff period by several years. However, it’s hard to muster the discipline to stay on schedule during a self-managed debt repayment plan. Such a plan might also require you to make uncomfortable cuts to your household budget. Your family might not be willing to make such sacrifices.

How Professional Debt Consolidation Companies Can Help

If you’re looking for a professionally-managed program of debt relief, you have several potential choices. Before making your decision, take the time to absorb a few key bits of debt consolidation advice.

First, it’s important to remember that debt consolidation can help you reduce only your unsecured debts. Since secured obligations like your car note or home equity loan are connected with physical assets that can be forfeited during default or bankruptcy, they can’t be consolidated or reduced by normal means. To alter the terms of a mortgage or auto loan, you’ll need to enter a program of refinancing.

Then again, a debt consolidation program that reduces your burden of unsecured debt could still prove useful. In fact, it could mean the difference between a devastating declaration of bankruptcy and a stable financial future. Unsecured debts that can be reduced by debt consolidation include medical bills, personal credit lines, court judgments, retail-store cards and regular credit cards.

Will A Debt Consolidation Loan Work?
You could choose to take out a debt consolidation loan to help pay down your debts. Although it might seem unwise to open yet another line of credit while you’re trying to get a handle on your current debts, this method of debt relief might meaningfully reduce your total burden.

Once you agree to the terms of your loan, your debt consolidation lender will pay off your existing unsecured creditors and leave you responsible for a single larger loan. This greatly simplifies your repayment arrangements by requiring you to send just one monthly payment to your lender.

Unfortunately, debt consolidation loans can carry high rates of interest unless you have a good credit score. The interest rate on your loan could be as high as 20 percent or more if you have bad credit. This might be even more expensive than the average rate on your old debts. Due to their expense and other factors, most borrowers who listen to unbiased debt consolidation advice from financial experts choose not to take out debt consolidation loans.

Consider The Debt Consolidation Loan Alternative

Rather than take out a costly loan that many produce limited long-term savings, opt for a proven debt relief program from a trusted provider. National Debt Relief, one of the country’s foremost authorities on debt consolidation, has been providing debt settlement services for years.

Like a debt consolidation loan, the debt settlement process can help you reduce and pay down your debts in less time than a self-managed program of debt relief. Unlike a debt consolidation loan, it can actually reduce the principal balances on your existing debts.

National Debt Relief Program offers a free debt analysis which can be taken advantage of at their website:

www.nationaldebtreliefprogram.org

Debt Relief Options And Programs – Here Are The Best

There are many options when it comes to addressing your debt problems. National Debt Relief Program believes it provides better Alternatives to Consumer Credit Counseling, Bankruptcy or Debt Consolidation Loans.

Below are summaries of the various alternatives available to you so that you can make an informed and well-educated decision based on your own individual situation.

Assuming you are able to make all the monthly program payments, National Debt Relief Program can offer Debt Resolution Programs that may help you resolve your debt in as little as 24-48 months without paying any fees until a successful resolution of a debt occurs. If you are experiencing a financial or personal hardship that is preventing you from paying your bills, the five most generally accepted debt relief options you have are:

1. Bankruptcy.

While bankruptcy is a legitimate route to get out of debt, it can negatively affect your credit for as long as 10 years and can be a very unpleasant experience emotionally. You shouldn’t consider bankruptcy as a simple “quick fix” to all of your financial problems, but rather as one of the many available solutions you may have given your individual situation. As of October 2005, congressional legislation made filing for bankruptcy more difficult and burdensome. A Chapter 13 bankruptcy could result in higher monthly payments and may last longer than an alternative debt resolution program. If you have questions about bankruptcy or are considering it as an option, we advise you to speak directly to an experienced bankruptcy attorney licensed in your state.

2. Consumer Credit Counseling (CCC).

A Consumer credit counseling program is a method of debt relief for those who are unable to make minimum payments and undergoing financial difficulties. However, CCC programs could take up to 6 years or longer to complete and your debt is not reduced when compared to a debt resolution program. You may still have to pay back 100% of the debt you owe plus interest. In addition, if you miss just one monthly payment, you could be dropped from the program altogether. Consumer Credit Counseling Services, on average, have very high rates of client cancellation, which does not bode well for their delivery of a successful debt management program. (see below for more information on CCCs). With that being said, a CCC program may be a viable option for those with under $10,000 in unsecured debt, are able to afford higher monthly payment obligations, and are well disciplined to remain in the program.

3. Debt Consolidation Loan.

This option may work financially if you have at least an above average or good credit rating and considerable equity in your home. If you have a very large debt balance and have been late on just one monthly payment, it is likely that your credit may be impaired. Also, with this option, you do not reduce or settle your debt to a lower amount than the original balance; you are only transforming it from unsecured debt to secured debt. While a debt consolidation loan coupled with a debt resolution program provides a very powerful solution, remember that debt consolidation alone does not reduce or settle your debt; it only shifts your debt from one place to another.

4. Continue minimum monthly payments to credit card companies.

Many people struggle to make their minimum monthly payments and this option could take over 30 years to pay back the debt you owe, costs thousands of dollars in interest alone, and could require you to potentially pay back over three-times what you now owe on these balances. This may be the least timely, most costly, and most economically disadvantageous way to get out of your unsecured debt (see below for more information). Keeping high balances on your credit cards may affect your credit in a negative way and could make it more difficult to obtain any other type of loan.

5. THE DEBT RESOLUTION PROGRAM

Debt resolution is an aggressive method that allows the clients who make all their monthly program payments to settle their debt for less than the original balances owed in as little as 24-48 months. Debt resolution programs are custom-tailored to provide you with just one low monthly program payment. We feel this option could be one of the fastest ways for you to resolve your unsecured debt while we work hard to minimize your stress burden.

Programs offered by National Debt Relief Program are performance based, which means we do not receive any fees until a settlement has been reached. National Debt Relief Program offers programs that either charge fees as a percentage of savings or as a total percentage of enrolled debt balances. Regardless of which program you enter, you can expect the total fees of the program to range from 20% to 24% of the enrolled debt amount by the time you complete the program.

National Debt Relief Program offers a free debt analysis which can be taken advantage of at their website:

http://www.nationaldebtreliefprogram.org

Debt Consolidation: The Ins and Outs

If you are making many payments every month to different creditors, you may consider getting an unsecured debt consolidation loan. Making a single payment for your debts may be more convenient, but you need to consider how much it will be costing you overall. While debt consolidation loans may offer a lower monthly payment, you could pay higher interest rates over the course of the loan. Only take out an unsecured debt consolidation loan if you are prepared to make the payments on time and in full.

Another debt consolidation alternative is a cash-out refinance. People who qualify for a cash-out refinance must have sufficient equity in their homes, strong incomes, and good credit. If you have many high interest debts and are juggling multiple accounts, this option may help you lower your monthly payments and get out of debt faster. The cash-out refinance effectively shifts several of your unsecured debts into a single, new debt that is secured by your home. Make sure to keep up with your payments though, or else you could end up losing your house.

Who Debt Consolidation is Best For

Debt consolidation isn’t right for everyone. If you don’t have a large amount of debt (at least $10,000) then consolidating might not be a good solution. Consolidation loans often require collateral, especially if you want to secure a good interest rate.

A collateral-based loan is a loan secured by an asset you own. By receiving a secured loan, you agree to forfeit the asset to the lender if you fail to repay the loan. So if your collateral is your home or your car (and it will need to be something of high value like that), then you could be in danger of losing them if you can’t pay your lender. That’s how foreclosures happen. It’s a trade-off: more risk for you, less risk for the lender, which means a better interest rate. Your home is a serious thing to put on the line, but if you’re confident that you can repay your loan and resolve your debt, it shouldn’t be a problem.

What happens if you don’t have collateral? Not everyone is a homeowner. Some lenders will offer unsecured loans. With an unsecured loan, the likelihood of getting a good interest rate diminishes dramatically. When all the lender has is your signature and a promise to pay the money back, they might be more reluctant to consolidate your debt and loan you the money. They’re essentially taking on all of the risk. A high interest consolidation loan may hurt you in the long run.

A long repayment schedule plus a high interest rate equals a lot of extra money – on top of your debt – that you have to pay. If you have collateral and can get a secured loan, that may be the way to go.

Debt Consolidation Pros

Possibility of a lower interest rate with a secured loan
Make just one payment a month to one creditor
May make larger debts more manageable

Debt Consolidation Cons

Personal assets (e.g. your home) may be at risk
Will not reduce the amount you owe
Interest rates may not always be lower – in some cases, it may even be higher

Is debt consolidation right for you? National Debt Relief offers a free debt analysis which can be taken advantage of at their website:

www.nationaldebtreliefprogram.org

Debt Relief Options – What One Is Best?

Are you struggling with debt? You are not alone. Millions of Americans are struggling with sky-high interest rates, stagnant wages, and unstable employment.

Will debt relief help? If you are looking for a way to resolve your debt, take some time to weigh the pros and cons of your debt relief options. The important thing to know is that there is no one-size-fits-all solution. The solution that is right for you depends on your specific circumstances. As a U.S. citizen, National Debt Relief Program can help review your options and figure out which is best for your situation.

See some of your debt options below:

Minimum Payments – Making your minimum payments may keep you looking “decent” on paper, but you pay a heavy price: interest.

Debt Settlement – It is also known as debt resolution or debt reduction, and often the cheapest way to resolve your debts while avoiding bankruptcy.

Credit Counseling – If you are having difficulty paying your bills each month and need only moderate debt relief, credit counseling may help.

Debt Consolidation – The most common form is a cash-out refinance loan, using equity in your home to pay off credit card debt.

Bankruptcy – Bankruptcy debt relief is generally considered to be an option of last resort due to its harsh impact on credit and lifestyle.

Which type of debt relief is right for you?

National Debt Relief Program offers a free debt analysis which can be taken advantage of at their website:

www.nationaldebtreliefprogram.org

5 Methods To Obtain Debt Relief Fast

Being deep in debt is a very stressful situation – especially if what you owe is more than what you are earning every month. Any breadwinner in the family feels this burden day in and day out. The pressure to make sure that the family is provided for is frustrating. While paying for the usual bills, you need to make sure your debts are paid on time and correctly. Not to mention having extra to put aside so you have emergency money for unexpected situations.

It may seem like a very bleak moment but thankfully, there are debt relief options for you to weather out this financial crisis.

1. Pay Down Your Debts Yourself

Before anything else, we’d like you to know that you have the option to fix everything yourself. While it is not guaranteed success as you have proven that you are unable to manage your finances, this could be worth a try. The good thing about this is you will not be burdened with the additional costs of hiring someone to help you out. All your funds can concentrate on paying off your debts.

You need to start off with a budget plan so you know just how much you debt you have and your ability to pay them off. Also, it will provide you with a black and white scenario of your financial standing. Next step is to call your creditors to tell them about your situation. Be prepared to show documents to prove that your claims are true. If they believe you, then you can discuss the possible options for you to be able to meet your debt obligations.

This is the ideal scenario of course. Unfortunately, the average American is unable to do this on their own because they simply do not know what to do. Even if you enlist the help of a free credit consultant, the expertise and professionalism required to negotiate for a new payment term is best left in the hands of those who know how. Otherwise, the desired results may not be achieved.

Thus let us examine your options on hiring a professional to help with your financial woes.

2. Debt Management

This is a program of credit counseling services for troubled credit card holders. These agencies have branched off to the private sector but at least you know that there are cheaper alternatives. Debt management agencies will help you analyze your financial standing, determine how much you can pay, and will negotiate with the creditors on your behalf. The negotiation can be on longer terms or lower monthly amounts – whatever is necessary for you to afford payments. Instead of paying the creditors directly, you will be paying the debt management agency and they will distribute the funds accordingly.

The benefit of going for this type of debt relief option is the possibility of lowered interest rates and monthly payments, waived penalty charges and other fees. Most of all, you will no longer be harassed by your creditors as they will be coursing everything through the debt management agency.

3. Debt Consolidation Programs

Another option is consolidating your debts into one manageable account with a consolidation loan. The main purpose of this is to eliminate the higher interest rate debts, arrive at lower monthly payments and allow you to concentrate on one payment alone. It does not, however, lower your total balance. What you will be doing is to shift everything and put them all in one account. You’re simply moving the debt around.

You must have very good to excellent credit to qualify for a debt consolidation loan with a low interest rate

You cannot qualify for a debt consolidation loan if you have bad credit or have fallen behind on your bills.

You can contact a bank or credit union to assist you with your debt consolidation loan needs.

4. Debt Settlement

Settling your debts used to be a less than reputable practice but it has recently gained prominence. It basically involves a debt relief company negotiating with the creditors on your behalf. The goal is to allow them to agree to a settlement wherein you will pay for a portion of the debt (ideally this should be a sizable amount but not equal to the total balance) and the rest will be forgiven.

As the debt relief company is negotiating with the creditor, you stop paying the bills involved (e.g. monthly credit card bills). Instead, you will be making smaller payments to a separate account to pool in your resources. You need to come up to the pre-planned amount that you have agreed with the debt relief expert handling your case.

Usually, creditors agree to have the borrower pay for only a percentage of their original balance – the rest will be forgiven. Your credit score will be negatively affected with settlement. It is an alternative to bankruptcy so the effects on your credit will be similar – temporarily.

5. Bankruptcy

This is the last resort if you are really unable to pay because you don’t have any source of income at the moment. This will, however, tarnish your credit history in a very bad way. You will be unable to get financial assistance in the future – or at least you will find it extremely difficult to do so.

There are two ways to file for bankruptcy – Chapter 7 and Chapter 13. Before you can file on any one of them, you need to show proof of your income and other financial documents to prove if you are of the low, mid or high-income class.

Which Debt Relief Solution Is Best For Your Situation? It all depends on your specific circumstances, income, debt and financial hardship.

National Debt Relief offers a free debt analysis which can be taken advantage of at their website:

www.nationaldebtreliefprogram.org