Set up a household budget by recording all expenditures for a month or two, organizing expenses in different categories and deciding which expenses are necessary and which can be cut out. Be honest and record every single expense when setting up a budget with instructions from a financial service specialist in this free video on budgets.
Expert: William Rae
Contact: www.hbwfl.com
Bio: William Rae has been licensed in the insurance and financial fields for more than 30 years.
Filmmaker: Christopher Rokosz
I have about $8000 in CC debt and I have not been able in to make my payments in over a year due to lack of work and the amount of money I make. Can I still use a credit counseling service or would bankrupcy be the better choice? One of my CC is past collection and being taken to court, would counseling help or is bankrupcy the only choice?
You can always look into a Debt Managment Type program. Check with the NFCC, National Foundation of Credit Counseling for an agency that is certified. Additonally you want to make sure they are registered with the BBB and certified for debt managment in your state. The biggest thing is not to be scammed by a debt relief agency/debt consolidation agency who makes promises of settling the debt for you.
You may not qualify for a debt management program, but they should all provide an assessment for free to let you know. Basically, to qualify for a debt management, you need to be able to take care of your priorities (housing, essential utilities, food) and also to make a payment to the debt managment program.
Most will work with debts even in collections. The problem is how far in the legal process this has taken. You may want to repsond to the summons and complaint and try to set up a payment plan, rather than be granted a default judgement and then be garnished. Once you have a payment arrangment to avoid garnishment, the credit counselor should be able to work with this.
Bankruptcy is also an option for people, but with only 8k in debt, I’d hustle and work this out on your own. I hope this helps, I with you the best.
Applying for a credit card with bad credit requires trying to get on a budget, applying for a secured credit card and making regular payments on all debts. Consider the reasoning behind getting a credit card if you are already in debt with advice from a financial service specialist in this free video on credit counseling.
Expert: William Rae
Contact: www.hbwfl.com
Bio: William Rae has been licensed in the insurance and financial fields for more than 30 years.
Filmmaker: Christopher Rokosz
our mission is to provide consumers like yourself a personalized unbiased financial analysis and then match you with a credit card debt settlement service provider that will assist you in accomplishing your financial objectives.
Most of our services are FREE and you are under no obligation to accept offers that are suggested to you. For a free no-obligation consultation from a credit advisor, please call us at 866-205-8370 or fill out the short form just to the right and you will be contacted as soon as possible. Coastal Credit Solutions.
Has anyone taken it through Cricket Debt Counseling ? At the end of the course, you’re suppose to call and speak to one of their debt counselor. Just curious if anyone went through their company. How long are you expected on the phone and what kind of questions are asked?
The problems with most credit/debt counseling agencies is 1, there is no promise they will help you at all. 2, you have to pay a fee for their services – services you can do yourself.
My advice, if you have a financially savvy friend or relative, sit with them, get your bills and income together and go over a budgeting strategy. If you don’t have someone that can help you with that, look online for budgeting tools, or simply get out a calculator and figure it out yourself – it’s not hard to do, but can be tricky when you’re trying to figure out how much to give this company or that company or which debt to pay first etc..
When you get all that figured out, you yourself can contact the companies you owe and say this is what I can afford each month to pay you. Take it or leave it. They’ll take it, they want their money. Now prior to the "take it or leave" part – Tell them you want an interest freeze placed on the debt. That freeze will stop all debts from growing interest. When you satisfy the debts you will regain access to whatever account it is you froze – unless of course it’s a typical bill, then it’s simply paid off…
Credit companies do work with people, but not many realize that, they are afraid to negotiate till it’s so far out of hand – sent to collections or a judgment was placed etc… Best take action sooner than later..
Avoid agencies, they’re not necessarily all scams, but they rarely help and always overcharge.
Can you refer me to a good debt counseling company? I have heard there are a lot of rip off debt consolidation companies out there, and I am just looking for one that maybe you have had a good experience with. If you could give me some suggestions, that would be great! Thank you!
Usually those companies offer debt settlement and credit counseling as part of their services, check the resource I have listed.
http://www.howtoconsolidatebusinessdebt.com/how-to-consolidate-commercial-debt.html Find out how commercial debt counseling can help your small business avoid bankruptcy. Avoid layoffs and get help.
www.EagleOneDebtSolutions.com Debt Relief and Debt Settlement Company. Have you considered Bankruptcy, Debt Consolidation or Credit Counseling as an answer to your delinquent debt? Have your accounts been placed with collection agencies that seem to call you every day? If you are ready to turn it all around, Eagle One Debt Solutions may be able to help. Eagle One Debt Solutions offers an honorable alternative to bankruptcy by negotiating with your creditors and collectors to settle your debts for less than the full balances. The average settlement is approximately half of the delinquent balance due*. To qualify, the total amount of your unsecured debt must be at least 00. * Credit Card Debt * Medical Bills * Department Store Charge Cards * Oil/Gas Credit Cards * Personal Loans (unsecured) * Auto deficiency balances (Repossessions)
Set up a household budget by recording all expenditures for a month or two, organizing expenses in different categories and deciding which expenses are necessary and which can be cut out. Be honest and record every single expense when setting up a budget with instructions from a financial service specialist in this free video on budgets.
Applying for a credit card with bad credit requires trying to get on a budget, applying for a secured credit card and making regular payments on all debts. Consider the reasoning behind getting a credit card if you are already in debt with advice from a financial service specialist in this free video on credit counseling.
http://www.coastalcreditsolutions.com
Credit counseling can help you deal with your debt.
http://www.howtoconsolidatebusinessdebt.com/how-to-consolidate-commercial-debt.html Find out how commercial debt counseling can help your small business avoid bankruptcy. Avoid layoffs and get help.