[Counseling] Videos
Credit Counseling Services can provide lower monthly payments on credit card debt and other unsecured bills. One phone call can quickly help you learn for yourself if you qualify and understand just how much lower your payments can be.
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Credit Counseling is often referred to as a form of debt consolidation because you combine all of your payments that are in the debt management program into one payment.
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Credit Counseling Services Help Lower Your Monthly Credit Card Payments
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Michael Bovee started CRN in 2004 with a mission to provide people in need with detailed credit and debt help. The DebtBytes Channel is an extension of the CRN blog, and is dedicated to finding the debt relief option or strategy that works best for you.
Thinking about filing for bankruptcy? Before you can file you are required to take a credit counseling course and submit the certificate of completion along with your petition and schedules. After you file, a second course and certificate are required to qualify for a discharge.
In this video, I explain what is involved with these two mandatory bankruptcy education courses.
Here is a list of approved vendors: http://www.bankruptcyworksheet.com/credit_counseling_vendors.html
Here is a link to my Atlanta bankruptcy web site: http://www.atlanta-bankruptcy-attorney.com.
Jonathan Ginsberg
Atlanta bankruptcy attorney
Ginsberg Law Offices
1854 Independence Square
Atlanta, GA 30338
770-393-4985
Emmy award winning consumer reporter Jeanette Pavini shares vital information on choosing a credit counseling service. Jeanette discusses how to recognize when you may need to seek a credit counselor and shares important tips on how to spot scams. Jeanette also discusses why it’s important to look forward and not feel ashamed or having debt.
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Get Credit Counseling Here – http://creditcounseling.debtconsolidation.com
What Is Credit Counseling?
Are you struggling financially and trying to dig out from a mountain of debt? Credit counseling could be just the solution you’re looking for.
Credit counselors work with consumers to educate them about money and debt, and help them develop household budgets a plan to eliminate debt. Credit counseling can offer financial guidance or negotiate with creditors to resolve unsustainable debt. However, counselors cannot offer legal advice. All meetings between a credit counselor and clients are considered confidential.
Accreditation Groups
Credit Counseling agencies typically belong to an accreditation group, such as the National Foundation for Credit Counseling or the Association of Independent Consumer Credit Counseling Agencies. These groups develop standards, provide accountability for its member agencies and set suggest fee schedules. The National Foundation for Credit Counseling suggests fees should be no more than $50 for a set-up and $25 monthly thereafter. Members of the Association of Independent Consumer Credit Counseling Agencies must agree to cap the initial charge at $75 and the monthly maintenance fees at $50.
The Credit Counseling Plan
When you meet with a credit counselor, having an honest discussion of your finances is paramount. You must be prepared to disclose all aspects of your financial life so the counselor will have a clear and complete financial picture of your income, household expenses, existing debt and spending habits. Copies of financial statements – including the debt accounts — will be needed.
The credit counselor helps develop a unique plan that might include a debt management plan, improved budgeting, bankruptcy, or a combination of these. Financial management and educational tools are provided, as well as materials to help clients develop savings and retirement plans.
Finding A Credit Counselor
Finding a credit counselor in your area has never been easier. Start by making a list of member agencies of the National Foundation for Credit Counseling or the Association of Independent Consumer Credit Counseling Agencies. Next, contact either your state attorney general local consumer protection office to find out whether there have been any complaints filed. You can find information on your state’s regulations by visiting the state pages on our site.
Most agencies will offer an initial meeting at no charge. This meeting usually lasts about one hour, and gives you the opportunity to find out if the agency will be a good fit.
About Nonprofit Agencies
Many credit counseling agencies are nonprofit and typically derive their funding from fees paid by clients, grants from the credit/lending industry and a percentage of the payments made by debtors. Up to 15 percent of what is collected can be returned to the agency. Under IRS guidelines, a non-profit credit counseling agency can only collect up to 50 percent of its revenue from these payments.
