In order to put your problems with credit and student loan debt behind you, one option is to schedule an appointment with a certified consumer credit counselor. A credit counselor can assist in determining a solution for your credit and debt issues. Get financial reviews, counseling sessions and plans to help solve your financial situation. The NFCC’s certified consumer credit counselors are located in each of the 50 states in the country, as well as Puerto Rico. Each member agency is accredited by the Council on Accreditation.
Whether you’re carrying credit card debt, personal loans, or student loans, one of the best ways to pay them down sooner is to make more than the minimum monthly payment. Doing so will not only help you save on interest throughout the life of your loan, but it will also speed up the payoff process. To avoid any headaches, make sure your loan doesn’t charge any prepayment penalties before you get started.
As far as options go, I’d recommend you start by talking with a reputable credit counseling agency – one of the options I mentioned in the story. That will give you a baseline to start with. If they can help you with DMP, it’s likely to do the least damage to your credit (with the exception of just paying the debt off) over the long run. If you/they determine a DMP isn’t feasible then you’ll know you have to look at more drastic options like negotiation or bankruptcy.
Report any problems you have with a debt collection company to your State Attorney General's Office, the Federal Trade Commission (FTC), and the Consumer Financial Protection Bureau (CFPB). Many states have their own debt collection laws that are different from the federal Fair Debt Collection Practices Act. Your state Attorney General’s office can help you find out your rights under your state’s law.
Reputable credit counseling organizations have staff counselors who are certified and trained. These counselors can discuss client financial situations to help them develop a personalized plan for their economic issues. An initial counseling session typically lasts an hour, with an offer of follow-up sessions. A reputable credit counseling agency should offer free information about itself and the services it provides without requiring potential clients to release any details about their situation.

Does This Affect My Credit? Yes, debt negotiation will negatively affect your credit temporarily and it can be improved after you have completed the program and you are debt free. The effects are not as severe as bankruptcy. If you are already behind on your bills, your credit score will already be lower so the effects of our program may not be as severe. You have to decide if it’s better to resolve your debt now at a lower cost and then rebuild your credit.


If you choose laddering, put as much money as you can each month toward the card with the highest interest rate, while still paying the minimums on the other cards. Once that debt is paid off, move on to the card with the second highest rate and so on. But this is very important: Do not close the account once the balance is paid off. That will damage your credit. Just let the account sit at a balance of $0.
Through a nonprofit credit-counseling agency, you can work with a counselor to resolve your financial problems on your own, says Bruce McClary, vice president of public relations and external affairs at the National Foundation for Credit Counseling. Or you can enter what’s called a debt management plan. Through that plan, you can consolidate your credit card payments and get the cards’ interest rates reduced, making your financial obligations easier to tackle.
I have my creditors calling me 30 times a day threatening me. And every single one of them told me that it never heard from Clear one advantage when I emailed clear one Advantage for documentation of each time they contacted my creditors, that their website it says “In Negotiations” they have to have some kind of documentation of each time that they called or emailed or mailed something to my creditors and I wanted copies. I received an email back from them saying they didn’t have any documentation.
Here it is nine months later I have paid them a tremendous amount of money and of that money they only paid $325 to 2 creditors one of them only one payment of $25 the balance of the money they paid themselves oh and there is a $8.35 monthly fee for the account they hold my money in. They only had two accounts settled but now both lost because they said there was no money to pay them.
If you're interested in starting a debt management plan, you'll first need to find a credit counselor. The Federal Trade Commission recommends you never agree to any debt management plan until a reputable credit counselor has thoroughly reviewed your financial situation with you. The U.S. Department of Justice maintains a state-by-state list of approved credit counseling agencies, so you can search for someone near you.
Find out exactly how the company's program works. The terms "debt management," "debt consolidation," and "debt negotiation" are often used interchangeably, sometimes in an effort to confuse or deceive people and sometimes quite innocently.[6] They do, however, refer to three different options, so regardless of what a program is called, find out what it is. For more information on the differences between these options, check out how to consolidate loans.
Chapter 7 bankruptcy allows you to discharge most debts, which means the debt disappears after bankruptcy proceedings. But there are strict income limits to be eligible -- generally your income must be below the median in your state -- and you might have to turn over some of assets to be sold so proceeds can be used to repay creditors. Your house, a very low-value automobile, and tools used for business are usually exempt from being sold. 
Are you tired of paying a high interest rate on your student loan debt? You may be looking for ways to refinance your student loans at a lower interest rate, but don’t know where to turn. We have created the most complete list of lenders currently willing to refinance student loan debt. We recommend you start here and check rates from the top 7 national lenders offering the best student loan refinance products. All of these lenders (except Discover) also allow you to check your rate without impacting your score (using a soft credit pull), and offer the best rates of 2018:

Addresses listed for internet and telephone credit counseling agencies may be outside the requested state or judicial district. In such cases, the credit counseling agency is physically located in another state or judicial district, but is approved to provide credit counseling in the requested state or judicial district. In some states and judicial districts, credit counseling may be available only by internet and telephone, and not in person.

Before discussing anything else, we’d like you to know that you have the option to fix everything yourself. Unfortunately success is not guaranteed as you have proven that you haven’t been able to manage your finances. But it could be worth a try. The good thing is that you will not be burdened with the additional costs of hiring someone to help you out. You will be able to concentrate all your funds on paying off your debts.


For most people who are struggling with debt, non-profit credit counseling is the better option. You pay  fewer out-of-pocket costs, which can be helpful. That last thing you need as you get out of debt is a big bill. If you’re looking for non-profit counseling services, fill out the form at the top of this page. Debt.com only refers you to the best accredited non-profit consumer credit counseling services.


Always keep in mind when dealing with services like debt relief that many customer view it as a magic pill to solve all their debt problems and make them financially stable, which is not the case. There are no guarantees when it comes to debt relief. These companies try to work with customers to lower their debt burden, but they aren’t going to work miracles.
It definitely sounds like you are in a tough spot. Can you make minimum payments until you get a place to rent and then try to resolve your debt? In addition, it would be a good idea for you to check out credit counseling as that may allow you to lower your payments, pay your debt in full, and avoid the kind of damage to your credit that settlement will do. (I am not opposed to settlement – it can be helpful in certain situations. But it definitely will affect your credit scores for some time.)
American Consumer Credit Counseling is a nonprofit organization that offers credit counseling services, debt management services, and financial education to consumers nationwide. With branches in various parts of the country, as well as certification to do business in all 50 states, ACCC aims to help Dallas residents manage their credit card debt and gain financial peace of mind.
Always keep in mind when dealing with services like debt relief that many customer view it as a magic pill to solve all their debt problems and make them financially stable, which is not the case. There are no guarantees when it comes to debt relief. These companies try to work with customers to lower their debt burden, but they aren’t going to work miracles.
We offer loan facility to both individuals and companies who needs loan to finance their business ideals, to pay off their bills, expand their existing business, consolidate debts, to finance good projects e.t.c at interest rate of 3%. We also guide and render financial advice to our clients. Kindly contact us today for all your financial needs, so that we can discuss, sign agreement and then finance your project or business for you. E-mail: (barrymoreloans12@gmail.com) or you can text on this number +19725345446
This is paramount to mapping out a plan to pay off your debt. There are two approaches that are worth considering.  The first is where you list your debts smallest to largest regardless of the interest rate. This is the method that we used to pay off $52,000 in debt in 18 months and it worked great because it helped us build momentum. When we paid off our first debt it put wind in our sails. Even though we had higher interest debts, this gave us something that was very powerful: the belief that we could get out of debt quickly if we stuck to the plan.
A Credit Counseling Session is an overview of your total financial situation, which will uncover ways to provide you with debt relief. It can be done on the telephone, online utilizing our industry-leading tool, or in-person. A certified credit counselor will review all of your income, expenses, and debts. Your counselor will then make recommendations to help you get back on track financially (one of which may be a debt management program). For additional information about our credit counseling program, click here.
Debt consolidation. When you refinance debt, you can often consolidate debt in the process, because the new loan is used to pay for multiple other debts. For example, if you had three credit cards on which you owed $3,000, $5,000, and $2,000 and you took a $10,000 balance transfer or personal loan to pay off all three, doing so has the effect of consolidating your debt. 
Having said that, the fees for our services vary by state and the amount of your debt. The fee varies between 18-25% of your enrolled debt. Compared to the $1000s in interest you will pay on your credit cards while you struggle to pay them off, you can see that this fee is quite reasonable. Especially when you take into account the fact that you can become debt free in 24-48 months with our debt consolidation program.
I have been with National Debt Relief Service and thought I would save 40% to 50% of my debt. but, so far, with 23% customer fees among others, the 7 I have settled for $7333.64 out of $10,388 with their fees came to a net savings of less than $3055. The fees are very high and now that I am signed up, I cannot leave since they say the creditors would not honor the settlement amounts.
If you cash in your IRA early, you will not only pay taxes on it (unless it is a ROTH), you also pay a 10% early withdrawal penalty. That means that money is not going to go very far. Before you use your retirement money to pay off consumer debt, I would suggest you at least talk with a reputable credit counseling agency to see if there’s a way to get out of debt without using this money that you will no doubt need when you do retire.
McClary advises following the 50-20-30 rule of budgeting: Allocate up to 50 percent of your budget to fixed expenses like mortgage, rent and car payments; 20 percent to savings; and 30 percent to variable expenses, especially discretionary spending for things like hobbies, recreation and dining out. That 30 percent zone is the first area to target for cutting back, McClary says.
Although there is variation from country to country and even in regions within country, consumer debt is primarily made up of home loans, credit card debt and car loans.[3] Credit counseling includes an array of services to address consumer debt that is not within the debtor's ability to pay, such as education about credi personal finance, budgeting and debt management. In addition to education, a popular credit counseling option is the ‘‘Debt management plan’’ (‘‘DMP’’, known in the United Kingdom as the Individual voluntary arrangement or "IVA"). In order to initiate a DMP, a consumer would authorize the credit counselor to contact each of the consumer’s unsecured creditors and negotiate with each creditor to lower the consumer’s monthly payment amount, to lower the interest rate, and to waive any outstanding late fees. The debt was then ‘‘consolidated’’ into a single payment.[1]
You'd make the minimum payments on all debts, and pay as much extra as possible toward the $1,000 credit card balance. Once that was paid off, the new "minimum" payment for the card with the $3,000 balance would be $400 (the original $300 minimum plus the $100 minimum you used to make on the card you paid off). Extra cash would also go to repay that card. Finally, once both of those were paid off, you'd focus all your attention on the personal loan. The new "minimum" payment would be $650 ($300 + $250 + $100). 
Both are possible solutions to problems with debt. A debt management program is not a loan. It consolidates unsecured debts and tries to lower monthly payments through reductions on interest rates and penalty fees. A debt consolidation loan is actually a loan, with interest charges and monthly payments due. With a debt consolidation loan, you would have to qualify to borrow the amount needed to pay off your debt. The interest rate is normally fixed and, depending on your credit score and history, may need to be secured with collateral like a home or car. Debt consolidation loans usually run 3-5 years.
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