Posted on
May 14, 2010
at
4:52 am
Hi, can you help me find free credit counseling in chicago?
Posted on
May 14, 2010
at
6:16 am
free credit counseling in chicago?- Credit counseling is non-profit but their Debt Management Plan would cost around $25/mo. after the one time set up fee.So basically any credit counseling is free just don't sign up for their DMP.
Posted on
May 14, 2010
at
7:21 am
I think a better question to ask is what to look forin a credit counseling agency.
Posted on
May 14, 2010
at
8:01 am
Right, and the answer to that is - (according to the BBB):-Before you select a credit counseling agency ask for information on the following: :::-Are the agency services confidential? :::-Will they devise a plan tailored to fit your needs? :::-Are the counselors certified? :::-Are budget and credit education opportunities offered? :::-Will your funds be protected? How? :::-Is the agency accredited? :::-Aside from BBB membership (www.bbb.org) the consumer should also check its affiliation with the National Foundation for Credit Counseling http://www.nfcc.org.
Posted on
May 14, 2010
at
8:03 am
Hello there Miller Time, if your amount of debt isrelatively high, say $10k and your accounts are mostlypast due, you don't have to do credit counseling. As the DMP is about negotiating your interest rates so you canget at your principal balance. That would take 3-5 years to finish. You can instead do debt settlement. You also have a choice there, diy or professional. With debt settlement, your balance has a chance of being reduced to more or less half, and help you be debt free in less than three years.
Posted on
May 14, 2010
at
8:47 am
Right and as for qualification - a debt amount of $10k or more, and past due accounts, as for the fees - Debt settlement companies would charge 15% of your total debt amount -spread over 18 months or they will take between 20-25% of the settlement amount. Dont forget to ask about their other fee structure.
