Articles Tagged ‘credit counseling’

Credit Counseling Versus Debt Consolidation
Monday, February 22nd, 2010
When you're in a lot of debt, it makes life more stressful and less enjoyable. By the time most people see the error of their ways, they're already in so much debt that it will take them many years to dig out from it. Fortunately, there are options that can help you get your debts paid off more quickly. Two of those options are credit counseling and getting a loan. With credit counseling, a third party negotiates lower payments and interest rates for you. You then start making one monthly payment to the credit counselor, and he forwards the monthly...

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Renegotiating Your Debt
Monday, March 16th, 2009

With personal bankruptcy and household debt at record levels many people are reaching out for help with their debt. Many are looking to use debt-counseling companies that charge fees and promise to make creditors go away, but some of these companies are counseling their clients to ruin. The Federal Trade Commission last year censured several companies that falsely claimed that they can reduce their clients’ debt by up to 60%. Some of the companies advised their customers to stop paying their bills without informing them that they can be sued by the creditors. Several also claimed that they could help repair...

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