Posted on
March 14, 2010
at
9:52 pm
How does this whole credit counseling for credit cards work?
Posted on
March 14, 2010
at
10:41 pm
How does this whole credit counseling for credit cards work?- hello, two things-
credit counseling is a program (strategy) that offers consumers education/knowledgeabout how to manage their debts (finances). It's non-profit.-but their Debt Management Planwould cost $25/mo. for 3-5 years (to enroll is optional). It's also used by the federal government(for consumers who wish to file bankruptcy)
as a requirement for a discharge - thatconsumers may know the alternative to bankruptcy. This might cost $50.
Posted on
March 14, 2010
at
11:02 pm
How does this whole credit counseling for credit cards work?- I think I hearda former debt negotiator say that it's a one click-you're in program. That if you goto a cc website - and you want to enroll in their Debt Management Plan -that's it - you're in. Not sure, can somebody please verify?
Posted on
March 15, 2010
at
12:01 am
..as opposed to or with debt settlement companies and their customer service feature? I heard about this too. That credit counseling agencies could be too eager to sign upconsumers to their Debt Management Plan and not really assess the consumer's financial situation. As a result the consumers drop out in the middle of the program -because it's unsuitable to their situation. 3-5 years is not a short time ...
Posted on
March 15, 2010
at
2:14 am
Credit counseling for credit cards - they've already mentioned Debt Management Plan.What it does is negotiate your interest rates so you could get at your principal debtmuch quicker. You pay $25/mo. but you have no guarantee that your creditors wouldagree with the request to alter your interest rates/terms of payment. Some say, at the2nd year mark or so - people drop out of the program, because they've been payingfor that long, with nothing to show for it. So they end up worse - financially - thanwhen they've started.
Posted on
March 15, 2010
at
3:54 am
so wait, are you saying that credit counseling for credit cards is not a good idea?What is a good idea then?
cda Rep Points:
Posted on
March 19, 2010
at
8:36 am
Are you overwhelmed with
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