Debit or Credit Counseling
People tend to opt for credit counseling when they have no other option left other than bankruptcy. A one-stop solution for all your debt solutions would be doylesalewski.ca which is headquartered in Ottawa. You can book your free consultation right away to know whether this agency would suit your needs.
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When you go for counseling to a credit counselor, they will first analyze your financial position and liabilities. The credit counselor puts a debt management plan forward. Then the number of people to whom the money has to be distributed is calculated. The due amount, your monthly salary is also analyzed. The plan finalized is sent to the creditors seeking approval. If the lenders feel satisfied with the program, then the credit-counseling agency starts making payments.
Debit or Credit Counseling Service
If you were not financially disciplined then would not be able to pay the monthly payments. In that case, you can prefer to seek the help of the credit counseling services. Credit Counseling services assist in reducing the interest rate, refraining from late fees and further the loan payment can be extended.
What To Know About Credit Counselling
The credit counseling agency you are looking forward should be a reliable one and should not be money minded. The counselors who belong to the credit counseling service should be certified by organizations like ISO or COA.
It is much better if they belong to other honorable associations like NFCC or AICCCA. This makes things much easier as those organizations certify the agencies which are legitimate.
Reliability of the company is a vital factor. If you doubt on their credibility, then you can get in touch with the better business bureau. You can also check with the other consumer agencies in your state to check if the company has undergone any legal investigations.
Few companies try to hide the services partially or collect hidden fees. Make sure that the company discloses all the facts both verbally and in written format. Some companies will be flexible to get monthly payments from you, and a few doesn’t accept monthly payments.
Just to check the genuine you can ask the company to provide the reports they generate on the payments. In some cases, the money you pay to the company may not reach the creditors so have an eye on that. You should also check on the status report regarding the loan accounts to make sure the payments are reached on time. Sometimes the agency may skip few loans to be considered later. See to that whatever is done is done with your consent.
You can also discuss with the agency to check if they can convince your creditors to reduce the interest rate or nullify the late fees.