Credit Counseling: A way to get out of debt. Check the slides to know how it work & what are their advantages and disadvantages.

1. Debtconsolidationcare.com
Internet's first get-out-of-debt community
470,973 members

2. Credit counseling – What does it do for the
debtors?
Credit counseling helps you get debt relief in the 4 ways:
• Helps you in budget planning
• Assists you to slash your monthly payments
• Arranges an affordable repayment plan
• Enables you to save money & get out of debt

3. What happens in credit counseling?
• Evaluation of your financial
health
• Assistance in creating a
customized budget plan
• Suggestion of smart money
management tricks

4. What happens if it does not help you?
Credit counselors will offer debt
management plan wherein:
• Your interest rates will be
reduced
• An affordable & single monthly
payment plan will be arranged
• Late fees and penalties will be
waived off

5. What are the 3 situations when you can
get credit counseling?
• Before bankruptcy filing
• When you are going
through debt problems
• When you want to repair
your credit

6. How much can you save through credit
counseling?
• Your interest rates can be
reduced from 22% to 8%
• The saving percentage
primarily differs from
person to person

7. Do you’ve to pay fee for getting debt
relief?
• You’ll have to pay a
nominal fee to non-profit
credit counseling
agencies
• You’ll have to pay modest
fees to debt management
companies

8. When can you expect to become debt
free?
It basically depends upon your:
• You can expect to be debt free
within 3 and 5 years
• Financial health
• Monthly payment amount
• Types of creditors
• Total debt amount

9. When is credit counseling best suited for
you?
• When it’s hard to make
minimum payments
• When you’re living paycheck
to paycheck
• When you’re short of cash
• When you can’t afford to pay
fees and penalties

10. How does credit counseling affect your
score?
• Credit counseling doesn’t
have a negative impact on
your score
• Late payments before or after
the beginning of program
may hurt your score

11. How can you find a good credit-counseling
agency?
You can find a good credit-counseling agency by
• Checking the license and affiliation
• Checking the qualification of credit counselors
• Going through the consumer feedback
• Asking questions in a good online financial forum
• Checking the privacy policy of the agency

12. For more information:
Contact us at 800-DEBT-913
Send mails at
jason@debtconsolidationcare.com
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