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Consumer Credit Counseling Services
Our consumer credit counseling services help you stay on track with your monthly payments. In addition to our credit-savvy advice, our counselors offer a variety of ways to help you better manage your finances. Our certified credit counselors review your unsecured debt, such as credit cards, medical bills and personal loans, and secured debt, such as mortgages and car loans, as well as household expenses and personal income. Based on your financial circumstances, we’ll then recommend one of the following types of credit services:
The number one reason people fall behind on their monthly bills is because they don’t have a budget in place. We’ll work with you to help determine how much you should be spending each month, and how much you should be saving. How do we do that? We’ll look at your fixed expenses like car payments, mortgages, and insurance, and your flexible expenses like groceries, utilities, etc., to help you calculate a precise budget for the month.
A debt management program is a consumer credit counseling service that helps you consolidate your unsecured debt into one easy monthly payment. While it takes an average of 30 years for most people to pay off their debt, a debt management program will help you pay it off within four to five years. We’re able to lower your rates and work to remove all late and over-the-limit fees. Take a look for more info.
Overstuffed mortgages are among the biggest expenses Americans face. A home equity loan is a type of mortgage that is used for home improvement or debt consolidation. However, unlike your unsecured debt, home equity loans have low, fixed rates. While this type of loan may be recommended for homeowners with large amounts of unsecured debt, they’re sometimes tricky to finagle. Also keep in mind that home equity loans don’t erase your credit. Take a look for more info on how home equity loans work and whether they’re right for you.
The unfortunate thing about credit is that it takes some to build more. Credit card promos can help lower your debt by offering special or introductory rates, but these “special” rates don’t last forever. And while credit card promos entice people by offering low interest rates, it’s important to understand what the terms and conditions are. Read about how these promos work, and what you should keep in mind when applying for a new card. Remember: the higher the interest rate, the longer it’s going to take to get out of debt.
Bankruptcy should only be considered after all other options have been exhausted. As bankruptcy can remain on your credit report for up to ten years, it’s not a decision to be taken lightly. There are two types of filing: Chapter 7 and Chapter 13.
Chapter 7: Involves liquidating all your assets to pay off your creditors and will basically erase your remaining unsecured debt. Chapter 7 bankruptcy can remain on your credit report for 10 years.
Chapter 13: Lets you keep certain assets, such as your car or home, given that you meet the financial obligations written in your court-approved repayment plan. Chapter 13 bankruptcy can remain on your credit report for up to seven years.
Our credit counselors will examine all your credit options to help you decide if filing bankruptcy is the correct decision for you.
Looking for more information on Consumer Credit Counseling?
Contact us online or call CreditGuard of America at 1-800-500-6489 for more information on our non-profit debt counseling agency. Certified credit counselors are available Monday - Thursday 8:00 am - 10:00 pm Eastern, Friday 8:00 am - 9:00 pm Eastern, Saturday 10:00 am - 6:00 pm Eastern. For online service 24/7, use the Credit Card Debt Analyzer to calculate your estimated interest and payment savings available through our debt management program. The call and initial consolation are free, so give us a call today.