Some of the most expensive and damaging credit cards that people use are those that have high interest rates and an annual fee. The more you have to pay, the more it costs you. It is your credit now, not debt in the future!
However, there are companies and businesses that offer a number of programs and services to pay back your plastic money and keep your bills in control. These companies and businesses are not, like credit repair shops and credit repair clinics, claiming to be a professional line of credit repair.
These companies and businesses do all the work for you, the consumer, and they do not owe you any money. In fact, they are making money not servicing your bill, but servicing you money!
How does a consumer credit counseling service work?
So, you’re asked to take up to a ’60 fee’ to become a counsellor. Not only will you get $5.00 off your next bill – you’ll be getting $18.00 in interest. Can you imagine?
But, say, your credit card bill hits you in the middle of the week, and you haven’t eaten or exercised in a long time. How much money will be owed?
That’s $110.00 for the first few weeks. And the interest alone costs $39.99 for the rest of the year.
So, before you sign up to become a member of the service or charge a monthly fee, think carefully about this somewhat enticing offer:
‘ Get an initial ‘call to action’ that you can answer to the people in your life that are paying the bill each day.
‘ Check your account often at all of the banks and credit unions that you wish to use. You want to get these ‘call to action’ that you can respond to to the people in your life that are paying the bill.
‘ Applying for debt settlement services that do not involve you makes your debt settlement financially impossible, and could result in your going to prison for up to 20 years.
‘ A survey of all the banks and credit unions that you wish to use when you want to negotiate with your creditors? Make sure they list all of them, including hours and levels of service. Why not list only those that meet your needs, such as the ones listed above?
What about those only included in your list? Are you sure you want to get fewer than these?
Well, your best bet could be searching the Internet and contacting the companies and businesses that provide service to you. Then, try to ask questions in writing. If only ‘ALL ARE WRONG’, why are they listed? Are there any hidden fees or charges that are hidden in the contract? What about your ability to avoid the dangers of credit repair? (Many companies and businesses are understandably annoyed with the criticism, but asking questions and submitting written questions and answers should help you get the answers you want.)
Make sure to make all of your payments on time every month and your debt is in no way behind you!
Take the time to study these offers, compare them, and your answer might prove helpful in your negotiations. The more you look at the alternatives to credit repair, the more eager you will be to improve your credit.
And remember – before you sign up with a new company, read carefully all of the terms and conditions before agreeing to anything. And only after you’ve looked carefully at it shows!–don’t sign up again!
SummaryThese companies sometimes charge multiple times more than they give!Disclosure: This information was provided by a credit counseling service.
Can You Repair Your Credit Online?
If your financial institution or a family member of someone you ‘reieged your credit’ credit report, then you can expect to pay quite a bit of money later for such a horrible mistake or theft on your reports. Even better, if you’re still able to retrieve and follow up on the timely payments to prove it, you may still be eligible to make refinancing the balance transfer, although some of the best efforts you’ll have to do is mail statements to the three major banks of your choice.
Let’s set a few priorities straight. You can refinance your bad credit credit by simply providing money and a couple of days ‘through your bank’, but this can still get you into the gutter. If you can, your best bet is to rely on your ability to move money around and pay bills to get yourself out of it.
If you are lucky enough to be able to make several of those refinances, that can save you hundreds or thousands of dollars.