As with all consumer protection services, there are also services that you can choose from. Here are a few choices.
Consumer Advocates will help you sort out your debt problems and help you determine the best option for you, one that can help you get some relief from your bad credit and help you pay off the debt. They can also fill in the blanks in your credit report and even change your credit at any time by providing information about credit repair. You can also call and ask for help.
Consumer financial counselors will provide you in-depth advice on other important issues such as how to manage your debts in a timely manner, plans for income and a list of resources to choose from, as well as educational materials on money and money again.
Secured Debt Consolidation Loan
Your right to become secured against bad debts, like your college student loans or your 401K, depends on how much you can afford to pay each month. Secured debt consolidation loans can help you meet your monthly payments, keep your credit card debt at a manageable size and help you develop a plan to pay it off.
No matter how much you owe, you should begin by having a goal of paying off the debt and not increase it to a level where it gets larger each month. You can then change your debt from one with high interest rates but low payments to another debt with lower payments. Your goal should be to get off the debt, not to increase it to a level where it adds to your debt.
Secured debt consolidation loans can help you establish a budget that includes your family in a plan to pay off at least the debt. You might also consider opening a savings account for your savings account that will keep your debt manageable. This will help you pay off the debt when you have less money but the same money that you saved after you applied to get rid of and paid off the debt.
If you are thinking of getting a consumer credit counseling service, you should consider considering these alternatives:
Cash Advances: This credit card consolidation program allows you to apply online for a credit card and then pay cash instead of interest. You pay a 0% APR interest for up to 6 months.
Mastercards and Visa Cards: Some credit card consolidation programs offer a suite of products designed to help you with your credit problems. When you use these cards for your consolidation efforts, you save money but the interest and fees that the credit card company adds add up. Additionally, you don’t have to pay the full balance up-front, which will add up to a staggering amount of money that could have been spent consolidating to a less expensive credit card so you won’t pay that much late fee.
How To Reduce Credit Card Debt
Credit card debt has become so expensive that many people are using credit cards for all kinds of other expenses, and unfortunately have little or no savings when it comes to credit card debt. Credit card debt is an alluring reason not to use a credit card, but before you decide for any of the alternatives, it is very important to take some time to determine if you are really responsible for your credit card debt.
Here are some basic guidelines for yourself so you can choose the best card available to you:
You should never carry a balance from month to month. This way you avoid a lot of interest charges for the following year. All you pay for your credit card should be the minimum you can afford.
Use only credit cards that you know you will be able to afford with low introductory rates and no fees.
If you’re already receiving phone calls from companies offering to lower your interest rates or set up credit card accounts, make sure they will give you a phone line to call and negotiate with your lenders and creditors so you can lower your card debt. I have personally seen most creditors that are on the phone drop the rates of their consumers with just a phone line.
When using your card, make sure you know how much each month the money you charge is. It makes little difference if you make little or a lot of money on interest. Use the card wisely and you can buy the most value bill of the month without paying any interest on it, as long as you know it has been charged to you.
The amount of money each month you have to the banks and credit card companies is incredibly expensive. To make that possible, you must try to pay 50% or less than the interest rates on your credit card bill, and at least have a bank or credit card company set up an account while you use your card.