In today’s challenging and still weak economy, banks and credit card companies are more likely than ever to forgive or cancel credit card debt free of charge. They offer customers a number of assistance programs and related counseling services. They really do this selfishly, as they would rather settle with the consumer vs. see them file bankruptcy, as in that case they receive nothing. More on credit card assistance programs.

Thank you for helping me to financial freedom. My two customer service agents Roger ** and Ed ** were very knowledgeable, professional, and helpful in getting me started with NDR. I want to say my experience so far is satisfactory. I would like to personally thank my service support agents. I rate NDR experience as a 5 star rating. Superb customer service at its finest. Look forward to getting out of debt soon. Thank you so much NDR team. Highest Regards.
My first week of training was taught by the Chief Sales Officer. That set the tone for how leadership operates. They care and are involved. All my coworkers and leadership are willing to help regardless of what team you are on and who you report to. There is A LOT of recognition for all kinds of successes. There are plenty of spiffs throughout the week/month. The money potential is real. If you are a worker, willing...
Get some help. If you are still flummoxed by debt, find a nonprofit credit counseling agency online and go through one of their free credit counseling sessions. They help you sort out your problem; help you set up an affordable budget; and advise you on which debt-relief option best suits your situation. The counselors are trained and certified so The greatest thing about it is that it’s FREE!
Unlike traditional debt consolidation loans, a nonprofit debt management program can help you lower your interest rates and consolidate debt with bad credit. That is because a debt management program isn’t extending new credit or a loan to you. They are simply helping you bundle your payments and make them on-time, and helping you lower your interest rates, despite a poor credit history. Why? Creditors may see you as a bankruptcy risk. By giving helping make your payment more affordable with lower rates, and supporting nonprofit debt consolidation programs, the creditors are attempting to prevent you from defaulting on your debt.
You might be wondering, “Why is having an emergency fund important”? Well, if you don’t have any money in the bank and an emergency does happen, how are you going to pay for it? For most people, credit cards become the funding source for those emergencies. If you are trying to get out of debt then you need to put a buffer between you and debt; that is exactly what an emergency fund does.
After that first initial call with him I was contacted by a company called Clear One Advantage they were very pleasant in the beginning took all of my information and began debiting my account on a monthly basis in July of 2017 by September of 2017 not one of the accounts have been settled my phone was ringing off the hook my creditors emailing me as well, telling me that they’re willing to work with me, I just needed to contact them and they would see what they could do.
A second option is consumer credit counseling. There is any number of consumer credit counseling agencies available on the Internet or you may be able to find one locally. The best of these are nonprofits. When you contact one of these agencies either via a website or in person you will have a counselor that will spend from 45 minutes to an hour with you discussing your finances. The best of these agencies charge nothing for that service.

Step 1: Open a dedicated savings account. At the start of your debt settlement program, National Debt Relief requires that you open a savings account where you will begin making monthly payments. The amount you pay each month is decided on by National Debt Relief, and is generally lower than the total payments you’re currently making to creditors. You are in total control of the funds in your account, which is only disbursed once a settlement is reached between National Debt Relief (on your behalf) and your creditors.
It is also important to be aware of any debt settlement and debt relief and elimination scams that may be going around. Always research the companies or the debt relief programs you are interested in and make sure they are offering legitimate and reliable services. Also, make sure that the debt consolidation program you work with informs you of all the risks that may be associated with the particular programs they are offering.

It makes me so sad when I hear people longingly say “I wish I could do that” because chances are THEY CAN. Maybe not the same way as me, or at the same speed (heck maybe they could even go faster!), or under the same circumstances, or using the same exact methods (except for the only spending money they already have part…) but they can certainly do more than just wish or feel bad about themselves.


Credit counseling (known in the United Kingdom as Debt counselling) is commonly a process that is used to help individual debtors with debt settlement through education, budgeting and the use of a variety of tools with the goal to reduce and ultimately eliminate debt.[1] Credit counseling is most often done by Credit counseling agencies that are empowered by contract to act on behalf of the debtor to negotiate with creditors to resolve debt that is beyond a debtor's ability to pay. Some of the agencies are non-profits that charge at no or non-fee rates, while others can be for-profit and include high fees. Regulations on credit counseling and Credit counseling agencies varies by country and sometimes within regions of the countries themselves.[1] In the United States, individuals filing Chapter 13 bankruptcy are required to receive counseling.
If you want some early small victories, some people recommend the “snowball” method, where you pay minimums on the largest bills while you work at paying them off, smallest to largest. Once the smallest one is paid off, you put the money you had been paying toward the next-smallest and so on. Another way is to pay the highest-interest-rate balance first. Use the one that makes the most sense to you. Read more here: 5 Ways To Get Out of Debt: Which Will Work for You?
This is where it helps to talk to a professional. Consumer credit counselors understand all the options available to pay off credit card debt. They can impartially evaluate your debt, credit and budget to help you identify the best solution for your needs. You get an unbiased, expert opinion on your best course of action so you can move forward with confidence.
Take advantage of free credit counseling. The best kept secret in the debt management industry is that you can do most of the things debt management agencies do and avoid paying their fees. Credit counseling is a mandatory prerequisite to enrolling in a DMP. Credit.org offers credit counseling at no charge. Many debtors find that credit counseling alone can help set them on the path to being debt free.[2]

“You ideally want to start by paying off the debt with the highest interest rates first,” McClanahan said. Specifically, look for credit card debt with the highest interest rates, and begin to chip away at that. Also keep in mind that credit card debt, though concerning, is a common type of debt. In a recent report, MagnifyMoney found that Americans paid back $110 billion in interest and fees in 2018, up from the $98 billion in interest paid the year before. Although it might seem overwhelming, others have found their way out of the debt — and it’s likely that you can, too.

The benefit of going for this type of debt relief option is that your monthly payment will most likely be much lower than the sum of the payments you are currently making. You may also have any penalty charges waived as well as any fees. Most of all, you will no longer be harassed by your creditors as they will be handling everything through the debt management agency.


Finally, you should know there’s a chance your credit can still suffer. Technically, entering a debt management plan shouldn’t hurt your credit score. But if your debt management company ever misses a payment on your behalf, your score will take a hit. Also, prospective lenders may shy away from making loans if they see a notation on your credit report that you’re in a debt management program.
My husband & I have a massive credit card debt now, due to us taking my sister’s 4 children in for 6 yrs + having our 2 girls graduating & college. I want to pay back what we owe because it’s the responsible thing to do, would consolidation be the best way for us to go or should we talk to a counsler first? We aren’t late on our payments, but scratching to get by each month after all the payments.
“The first thing a person needs to do is take a close look at how they got into debt in the first place,” advised Carolyn McClanahan, M.D., CFP, who began her career as a physician and is now founder of a financial planning group called Life Planning Partners LLC, based in Jacksonville, Fla. “They should identify what triggered the situation or any bad habits that might have led to their debt, so that they don’t repeat those things going forward. Then, they need to make an actionable plan to figure out how to get out of debt.”
Lower interest rates and monthly payments. A debt consolidation loan or debt management program should reduce the amount of interest you pay on your debt, plus get you a monthly payment that is more in line with your income. The stability of knowing that you have an affordable monthly payment that eventually will eliminate your debt can remove a lot of the anxiety associated with the problem.
If you’re looking specifically for a nonprofit credit counseling agency to work with, explore NFCC member agencies, all of which are nonprofit. NFCC member agencies are required to meet eligibility criteria that ensure they are accredited by a third party, upfront about included fees and provide consumers with counseling and financial guidance that can help them improve their finances over time.

If a consumer’s financial problems resulted from too much debt or inability to repay their debts, a credit counseling agency might recommend enrollment in a debt management plan (DMP). A certified credit counselor will review a consumer's overall financial situation and offer customized money management advice. This advice may include a DMP designed for the client's unique circumstances. 
Indeed, accumulating debt can certainly take an emotional toll and negatively impact your overall life satisfaction. However, you can take simple steps to pay down debt and turn your financial situation around. No financial situation is permanent, and with some patience, persistence and implementing of best practices, you can find yourself back on the path to financial recovery. So take a deep breath, keep your emotions at bay and work on tackling your debt in a practical manner.
Credit counseling works because it provides people with the time and tools to focus on their financial situation. The nonprofit version of this service provides a holistic, high-level view of an individual or family’s debts, assets, income and expenses before recommending a debt relief strategy. These services work because the solutions provided are personalized and specific, and because counselors are well-trained and non-biased.
If you work hard the commission pays off. They are flexible with hours and everyone has great energy which I feel is most important. Full benefits the whole and PTO. I enjoy going to work and thats an amazing feeling. I want to be here as long as possible. You are your book of business here, in addition no micromanaging is a huge plus for me. I am doing really well so far and look to keep crushing it.
The Federal Reserve says that the average household debt is up to $132,529 (including mortgages) a jump of 11% in the past decade. Credit card debt and auto loans are climbing over the $1 trillion mark. Student-loan debt has hit a staggering $1.3 trillion with 44.7 million borrowers, who owe an average of $37,172. That figure alone is up 186% in the past decade!
Howard – The problem with Chapter 7s is that you must meet minimum income requirements (based on the minimum income threshold in your state). This means there’s a possibility that you may not qualify for a Chapter 7, so it may not be an option for wiping out credit card debt. Before you decide to go the bankruptcy route, have you considered a Debt Management Program? I know 45k is an huge burden and it’s stressful, but there are other options that may help. Before you decide on bankruptcy, we’d advise exploring all of your options. It’s worth contacting a consumer credit counseling service. They’ll be able to review your individual personal financial situation and debt load to determine whether or not you’d be a good candidate for a DMP. If you are a good fit, they’ll work with your creditors to lower you interest rate and lower your monthly payments to one monthly payment you can afford. If a DMP isn’t a good fit, and bankruptcy is your best option — they’ll be able to tell you that as well. A consultation is free, but make sure you choose a consumer credit counseling service that is accredited by the National Foundation for Consumer Credit Counseling.
It sounds like you have done what you can to protect yourself (credit freeze, law enforcement etc.) I am not sure what your bank will do but I can’t imagine they will pursue you for a crime committed against you. Have you changed the bank account you deposit your Social Security check into? If not, talk with your bank. It would seem to be a reasonable precaution.
Although a debt settlement company may be able to settle one or more of your debts, these programs can be very risky and have serious negative financial consequences for consumers. Additionally, some debt settlement companies deceive consumers by making promises they do not keep and engaging in other illegal conduct (like charging fees before obtaining any settlements, in violation of the TSR). For information, read Coping with Debt and Settling Credit Card Debts.
I know they stay on your report for 7 yrs……….but out of all of them while the others of course are on the report as not paid, they are not listed in a separate section that says “in collecions”……the ones that were on the report under the collecions status concern me because I ws sued on two of them……the small claims Calvary was very nice….after they obtained the judgment, I offered thme 300.00 and hey volantrly dismissed the judgment……….do you know how many points affect a credit score with a judgment? Portfollio will never get dime from me…..I offered them 1500 when a cousin offered me a loan and they scoffed………the only thing I have in the bank is my own money however I took out a collateral loan against its is secured……assuming if Portfolio tried to get it, then the bank has first dibs……….
Debt forgiveness is another potential strategy for anyone ready to admit "I need help with my debt." This involves paying your creditors a lump sum payment that is less than what you owe and ask them to wipe out your debt. While this is sometimes effective, it can also backfire and add even more debt to your totals. While ACCC does not get involved in debt forgiveness plans, we can help you understand the benefits or potential risks this approach may pose.
At this point, you will need to continue following the advice of the credit counseling agency you hired to help and remember the benefits of being debt-free. Life is a lot more difficult when you’re juggling credit card bills and other payments each month. If you want to avoid winding up back in debt, it’s crucial to remember how far you’ve come and how wonderful freedom feels.
This really depends on the agency you work with and what they offer. In some cases, a company pairs credit counseling and credit repair. To do this legally, that means that they have both certified credit counselors and state-licensed credit repair attorneys on staff. In this case, they help you eliminate your debt, and then help you dispute any lingering mistakes in your report.
Thrivent: Partnered with Thrivent Federal Credit Union, Thrivent Student Loan Resources offers variable rates starting at 4.13% APR and fixed rates starting at 3.99% APR. It is important to note that in order to qualify for refinancing through Thrivent, you must be a member of the Thrivent Federal Credit Union. If not already a member, borrowers can apply for membership during the student refinance application process.
Imagine, for example, that you have $20,000 in credit card debt and $10,000 in other non-mortgage debt. You might set yourself a goal of paying it all off in two years. (Set a specific time frame, too, lest you keep extending your deadline.) You can set sub-goals, too, such as having a quarter of it and half of it paid off by certain dates. Write down the goals and post them where you'll see them.
Negotiating a debt relief plan. Trying to work with creditors should come first before bankruptcy. Let the lenders know you aren't able to pay your bills and are thinking about filing for bankruptcy protection unless they're willing to work with you. The creditors may allow you to repay a portion of your debt -- either in a lump sum or over time -- and forgive the rest. 
People are creatures of habits and spending money is no exception. We shop at the same stores, eat in the same restaurants and drive the same car, because it’s comfortable. It’s also costing you more than you can handle financially. Remedy: If you won’t change your spending habits, you won’t ever get out of debt. Start with your morning habits (have your coffee and breakfast at home). Go to lunch with a brown bag, not a wallet. In the evening, watch games or movies on TV, while eating a home cooked meal. You will see an immediate impact on your daily spending habits. You don’t have to do without. You just have to make better choices with what you do.
Kalkowski recommends finding a nonprofit rather than a for-profit agency. Reputable companies may be accredited or certified by one of three organizations: The National Foundation for Credit Counseling, the Financial Counseling Association of America or the Council on Accreditation. Consumers can also check the Better Business Bureau for company ratings and reviews or discuss the matter with trusted friends and family members who may be able to make a recommendation.
I have debt which if I follow my plan should be paid off in two years (except for one huge student loan and my mortgage). I contribute to my work 401k plan. That money would be helpful to put towards my debt however I am also 62 and would like to retire in 2023. Am I doing the right thing in continuing with the 401k, or because I only have 25k in the 401k, should I stop and use the money towards the debt?
Try to put some money down on your higher interest student loans. The way I paid off my bachelor loans was whenever i got a refund back from the college or from taxes a portion of that went to the student loans. The more you tackle your higher interest loans the better your credit. Now if you have like tiny ones like 1,000 try paying those off if your not financially ready to tackle the bigger interest rates ones.
Thank you for helping me to financial freedom. My two customer service agents Roger ** and Ed ** were very knowledgeable, professional, and helpful in getting me started with NDR. I want to say my experience so far is satisfactory. I would like to personally thank my service support agents. I rate NDR experience as a 5 star rating. Superb customer service at its finest. Look forward to getting out of debt soon. Thank you so much NDR team. Highest Regards.
Be VERY careful before you decide go with debt settlement and don’t believe the huge savings you will supposedly get. Lower but stretched payments with higher interest will cost much more on the end. These 30-50% so-called savings are in the fact money going into their pockets. Plus, your credit score will be so screwed up that nobody rent you a bicycle.
Consumer Credit Counseling Service of Greater Dallas, Inc. - Consult with a specialist for free/low cost, and most importantly, confidential advice. They will help you get out of debt, find resources to pay bills, and offer budgeting advice as well which can lead to long term self-sufficiency. They are also a federal government HUD certified housing agency.
It couldn’t hurt to talk to a credit counselor, particularly because this is affecting your health. Here’s how to find a counselor through the National Foundation for Credit Counseling. Depending on your amount of debt and income, it may or may not be the right answer for you. From your question, it’s hard to know whether you should be talking with a bankruptcy attorney, credit counselor or simply someone who can help you with a realistic budget you can stick to. But we hope a counselor, with more information about your specific situation, can offer guidance.
When you have a small emergency fund, you won't have to reach for your credit cards when disaster strikes. You can use the saved money and not slide back into debt. Of course, when you use the money in your emergency fund, you may need to pause debt payment to rebuild it again. But at least you won't have gone deeper into debt when trying to climb out of the hole. 

You may think that while paying off debt, you don’t have money to save, but this is essential. Life happens, so if anything comes up, like a job loss, medical bill, or car repair, you’re covered. The suggested amount is three to six months’ worth of expenses, but if that’s not immediately possible, aim for one months’ worth – that’s a great starting point.
I had credit card debt and I used Credit Advocates to help with the solution. Now that I am at the end of paying off the debt I just wanted to cry when I saw how much I was charged in fees – it was a fee for everything including phone calls made for me. At least between a forth and half of the monies sent went to them. If I had it to do over again I would call the credit card companies and try to repay the lesser amount over time. It seems to me that the companies that say they can help are only there to take your monies at a very high rate of fees, etc.
A debt management plan (or DMP) is one way MMI can help you resolve your credit problems and repay your debt. A debt management plan is recommended for those individuals who need more than advice and could benefit from a structured repayment plan. Through a debt management plan, you are able to make one convenient monthly deposit to MMI which is then disbursed to each of your creditors.
I doubt that would be the case. The main impact will be from closing those accounts. FICO doesn’t take into account that you are in credit counseling when calculating your credit score. In other words, you don’t get penalized specifically for credit counseling like you would for, say, a late payment or bankruptcy. Plus you’ll hopefully be learning how to live debt free so you don’t have to rely on credit cards again.
This won’t be an option for everyone but if you’re paid hourly, speak to your boss and see if you can pick up a few extra hours. Or if you’re job has shifted, check if the less desirable shifts pay a bit more per hour. Working nights isn’t fun, but it could make you some extra money without doing any more work. Maybe less if there’s no one watching!
I’m in this program, can you tell me the dates they gave you that everything would be paid, was your accts pain in full an over with. I’m also needing to know did you get new contracts to sign about your first payment an balances, I’ve got one twice an I feel like if I sign it they’re saying I’m starting all over again, I see my balances going down I’m just confused with this. can you give me any advise, I contacted a lawyer an was told these companies are not legit, I’m just lost at this point not sure what to do lawyers advise was to file bankrupt, don’t want that…..Thanks
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