Consumer Credit Counseling Services, For Your Financial Future

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Consumer credit counseling services is part of the education needed to avoid financial troubles. When one is having a problem, ask for help before it gets out of hand. For example, if one is facing a problem on foreclosure, there is some quick advice for a solution. Here they are:

  • Ask why it happened. Is it because of a job loss, a divorce or an illness? How long will it take you to get back on track?
  • Talk to the lenders and explain what happened and inform them how this affects the future payments.
  • Contact some consumer credit counseling services and see which is the best one that can help. There's for instance HOPE hotline at 1-888-995-HOPE.

A counselor will be able to help at no cost. So if you have this problem now, take action. Go through the aforementioned quick tips before making the call so the answers will be there to help get to the problem on hand. Then the problem will take center stage and only then will the steps to solve the problem can be taken.

For that second tip, call the mortgage company to explain what happened. Perhaps, they will help change the terms of the loan or get a temporary suspension of payments or at least reduce it. One may even be able to set up a new payment plan.

In avoiding foreclosure, calling the mortgage lender is the most important thing one can do. One can do this either online or by phone. So set your browser at http://www.995hope.org or if one prefers to call, the number is 888-996-HOPE.

Consumer credit counseling services will certainly help. But one has a choice between counseling and debt management program. The first one usually has low or no fee at all because of voluntary contributions from clients and creditors and grants as well. Although there may be a low fee, the first session should be free.

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What happens during the first session of any of the consumer credit counseling services? It should be a comprehensive look of the present financial situation. This includes identifying the concerns about debts and at the same time get some solutions.

So what usually happens during the first session? A certified credit counselor will talk with you either in person or by phone for an hour to one and a half hour. He will review the present situation looking at the income and expenses along with the budget and the debts.

He will also let one know why things are happening the way they do, the possible solutions and the different options available. From this, he will present an action plan that will take one on the right road. You and the counselor will talk about the steps to take to solve the problem.

The solution will have to depend on the income, expenses and the debts you incurred. You may be referred to some community resources. He will also advise you about changing your lifestyle to fit the income and some ways to earn extra income and lower the expenses.

The counselor may even refer you to a Debt Management Program. He will provide you with the necessary information and the specifics of the management plan. You will need to bring a list of the expenses, the statements from the debtors and the stubs from any income earned. That's what could happen in any of the consumer credit counseling services.

Consumer credit counseling services abound but get one that's accredited. The NFCC makes sure they promote financial responsibility and makes its members deliver the highest quality of counseling services and financial education. To talk to a counselor near you, call 1-800-388-2227. He will help with the financial demands by assisting with the financial options and money management that appear confusing and difficult.


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