Would you like to find a reputable counselor to establish a roadmap to financial freedom? If that’s the case, you’ve come to the right place. Credit counseling, also known as debt counseling, is an affordable way of cutting your debt payments without negatively affecting your credit rating permanently.
Most consumers in need of Bay City credit counseling have steady income, debts of more than $10,000, and the desire to pay down their debts.
Bear in mind, credit counseling requires repaying all the money you owe; however, it will look far better to future lenders than debt negotiations.
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How much do you owe in total? If you find yourself having to pay over half of your income per month on rent/mortgage, loans, and credit cards, you need to request a savings quote asap.
Do you have at least $10,000 of debt or have a debt-to-income ratio of 50% or more? Then your credit counseling professional could possibly say you need to enter a debt management plan (DMP). As part of a debt management plan, your Bay City TX credit counseling agency may able to obtain reduced rates of interest and better terms from your creditors. You will send only one payment to your Bay City credit counseling service. They allocate the funds among each of your creditors.
Credit counseling typically doesn’t do damage to your credit rating in the long run, but banks may not be able to grant you a new home or auto loan if you are enrolled in a credit counseling management plan.
Picking a Credit Counseling Agency in Bay City, TX
As a program, credit counseling and debt management plans have been vetted by the FTC and other federal bodies. But avoid any credit counseling organizations that advertise they will:
- End all collections calls
- Ensure the removal of credit card debts
- Keep creditors from suing you
- Impose a fee up-front for their expertise
Keep in mind, being a non-profit does not always mean that a credit counseling firm is legit, and vice versa. Needless to say, we can help you find the most effective counseling or debt management solution according to your distinct situation.
How Much Will Credit Counseling Help You Save?
Keep in mind that credit counseling is a strategy for managing debt, not settling it. However, your monthly payments should be lower as a result of interest and penalty savings.
Credit counseling helps you save money and time. Find out more today.
Credit Counseling / Debt Management: Bay City (TX)
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