When Do You Use A Credit Counseling Service?

When Do You Use a Credit Counseling Service? If you are consistently paying your bills late, credit counseling services may be able to help you negotiate lower interests and payment plans with your creditors. A credit counselor determines your eligibility... More

When Do You Use a Credit Counseling Service? If you are consistently paying your bills late, credit counseling services may be able to help you negotiate lower interests and payment plans with your creditors. A credit counselor determines your eligibility for a debt consolidation program or debt management plan. The main advantage is that you only need to make one payment per month to a credit counseling service, which then sends the payment to your creditors. You save by paying lower interest rates and avoiding late payments charges. It is also easier to manage a single debt as all your debt repayments are consolidated into a single monthly payment. Credit counseling services' fees are usually paid by creditors to whom debt payments are distributed. This raises doubts on the objectivity of credit counseling services. Many believed that they are used by creditors to collect debts. There are so many credit counseling services, so it is imperative to research them carefully before signin Less