Updated video:

DISCLAIMER:
I am NOT a financial expert, accountant, or anything of the sort. I am in no way qualified or certified to give financial advice. However, I am here to share my love of planning and also share what my family is doing to get out of debt and be better with money. If you are looking for financial advice, I would recommend seeking advice from an expert.

#SnowballMethod #DaveRamsey #PayingOffDebt

Kristin Malia explains the difference between Credit Card Debt Settlement Versus Consolidation and what the differences between the two.

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Transcript:

Watch more Credit & Credit Cards videos: http://www.howcast.com/videos/313540-How-to-Choose-a-Consumer-Credit-Counseling-Service

When life throws you a curve ball, find the best agency to help you get out of debt.

Warning
Be aware that some consumer credit counseling agencies may not be legitimate or honest.

Step 1: Make a list of possible credit counselors
Draw up a list of possible credit counselors. Many colleges, credit unions, and military bases offer credit counseling programs. Find others through web searches or referrals from friends and family.

Tip
If you choose a nonprofit agency, make sure their fees are affordable.

Step 2: See if the agency is a member of a trade association
Eliminate the agencies that aren’t members of major trade associations by searching the websites of the AICCCA and the NFCC.

Tip
Find the AICCCA, or Association of Independent Consumer Credit Counseling Agencies, at aiccca.org. The NFCC, or National Foundation for Credit Counseling, is at nfcc.org.

Step 3: Search for complaints filed against the agencies
Contact your state Attorney General’s office, your local consumer protection agency, and the Better Business Bureau to see if any of the agencies have had complaints filed against them.

Step 4: Get information about each agency
Contact each agency remaining on your list and ask for a basic information packet. They should provide this without asking for financial information or a fee.

Step 5: Review information about services offered
Review the information about each agency’s services. Look for counselors that offer a full range of options, including budget counseling and savings and debt management classes.

Tip
Avoid agencies that offer to enroll you in a Debt Management Plan, or DMP, without reviewing your financial situation.

Step 6: Ask about fees and qualifications
Ask about fees, including set-up and monthly fees. Find out how the counselors are trained and compensated. Avoid services where counselors work on commission only.

Step 7: Get a formal, written agreement
Select an agency that offers services that best meet your needs. Get a formal, written agreement that includes a price quote. Follow their advice and you’ll be on your way to financial freedom.

Did You Know?
At the end of 2008, the total amount of credit card debt in the U.S. topped $972 billion. On average, each American household carried about $8,000 in credit card debt.

Should I Move Credit Card Debt To A Personal Loan?
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Welcome to The Dave Ramsey Show like you’ve never seen it before. On this channel, you will find all of the greatest highlights from The Dave Ramsey Show! The show also live streams on YouTube M-F 2-5pm ET! Watch Dave live in studio every day and see behind-the-scenes action from Dave’s producers. Watch video profiles of debt-free callers and see them call in live from Ramsey Solutions. During breaks, you’ll see exclusive content from our Ramsey Personalities —as well as all kinds of other video pieces that we’ll unveil every day.

The Dave Ramsey Show channel will change the way you experience one of the most popular radio shows in the country!

Learn about the pre-bankruptcy credit counseling requirement.

Debt. No one else sees it, but it’s always hanging around weighing you down.
Get debt off your back. The Credit Counselling Society is a non-profit service that’s helped thousands of Canadians solve their debt problems. Call them today at 1-888-527-8999. Their help is free, confidential, and it works.

Got a question from a client, and they wanted to know how settling their debt would effect their credit. In this video we compare it to bankruptcy, a consumer proposal, and credit counselling.

I’m $137,000 In Credit Card Debt!
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Get a FREE custom money plan in three minutes!
http://bit.ly/2NVeHF8

Visit the Dave Ramsey store today for resources to help you take control of your money! https://goo.gl/gEv6Tj

Ramsey Network (Subscribe Now!)
• The Dave Ramsey Show (Highlights): https://www.youtube.com/c/TheDaveRamseyShow?sub_confirmation=1
• The Dave Ramsey Show (Live): https://www.youtube.com/thedaveramseyshowlive?sub_confirmation=1
• The Chris Hogan Show: https://www.youtube.com/user/ChrisHogan360?sub_confirmation=1
• The Rachel Cruze Show: https://www.youtube.com/user/RachelCruze?sub_confirmation=1
• The Ken Coleman Show: https://www.youtube.com/c/TheKenColemanShow?sub_confirmation=1
• Christy Wright: https://www.youtube.com/c/ChristyWright?sub_confirmation=1
• Anthony ONeal: https://www.youtube.com/user/aonealministries?sub_confirmation=1
• John Delony: https://www.youtube.com/c/JohnDelony?sub_confirmation=1
• EntreLeadership: https://www.youtube.com/c/entreleadership?sub_confirmation=1

Welcome to The Dave Ramsey Show like you’ve never seen it before. On this channel, you will find all of the greatest highlights from The Dave Ramsey Show! The show also live streams on YouTube M-F 2-5pm ET! Watch Dave live in studio every day and see behind-the-scenes action from Dave’s producers. Watch video profiles of debt-free callers and see them call in live from Ramsey Solutions. During breaks, you’ll see exclusive content from our Ramsey Personalities —as well as all kinds of other video pieces that we’ll unveil every day.

The Dave Ramsey Show channel will change the way you experience one of the most popular radio shows in the country!

The Credit Counselling Society is a non-profit service that has helped thousands of Canadians solve their debt problems. Call them today for free, confidential help: 1-888-527-8999.

As the coronavirus pandemic deepens, millions of Americans are skipping their credit card payments. In response, banks and other lenders are preparing for further economic fallout. CBS News business analyst Jill Schlesinger joined CBSN with more.