Understand how credit counseling works. How credit counseling can make paying off credit card debt easy, affordable and stress free.

Who needs credit counseling? We suggest anyone with over $10,000 of credit card debt, current with their payments but struggling to pay more than the minimums is a good candidate for counseling.

The credit counseling process. A credit counselor begins the process with some simple intake questions such as marital status, number of people in household and what the client’s goals are. Next, we pull their credit report. This is a soft pull; therefore, it will not affect their credit. Now, the counselor will review liabilities. This includes any mortgages, car loans, credit cards, student loans, personal loans or any other accounts showing a balance. Next, the counselor will confirm the balances and the monthly payment amounts with the client. In some cases, we may need to obtain the interest rates on accounts from the client over the phone.

Recommendations
One of the recommendations might be enrolling into a debt management plan. On this plan, the client usually receives lower interest rates and lower payments. As a matter of fact, last year, the average client had their total payment decrease from $915 to $694 on our program. That’s a 24% decrease payment for our average customer. They also saw their average interest rate fall from 23% down below 7%.

Credit Effect
A Debt Management Plan typically has a neutral effect on your credit. You might see your score initially go down because your accounts get closed. For people that are already maxed out on their cards, they probably don’t see much change in their score at the beginning since their score is already on the lower end. But over time, as long as payments are being made on time to all accounts and new accounts are not getting opened outside the program, you should see your score gradually increase. A recent study at DebtWave showed the average client’s scores increasing about 15 points per year.
But we don’t recommend focusing so much on your credit score as a good credit score will ultimately lead you to acquiring more debt. If you have a large amount of credit card debt, focus on paying it off and nothing else. Learn to live within your means! Spend less than you make. Become Debt Free and stay that way!

Debt Management vs. Debt Settlement
A Debt Management Plan often gets confused with Debt Settlement. These plans are very different so it’s important to know how they work. A Debt Settlement Plan requires you to starve your creditors of payments for months and months and sometimes years. This of course can ruin your credit. Once the accounts are severely delinquent, the creditors will settle for about 50% of what you owe. The debt settlement company will collect monthly payment from you but won’t disburse payments until you’ve saved about 50% of one of your debts. Not only do you need to be cautious of the credit effect, but you need to understand the tax implications as well. Whatever amount of debt is forgiven will be considered taxable income. So let’s say you have $10,000 of debt and you successfully reach a settlement for only $4,500. The $5,500 debt that was forgiven becomes taxable income. Expect to pay 20-25% to Uncle Sam, so around $1,200 will be due to the IRS. And you may get sued by creditors along the way. When you fall that far delinquent, some creditors may take action to try to garnish your wages. We would avoid this debt settlement program unless you absolutely cannot afford payments on your own or the payments on a debt management program.

What to expect after enrolling?
The enrollment process consists of you paying a start-up fee which is usually around $50-$99. That amount varies depending on the state you live in. Once the fee is paid, the credit counseling agency will then contact all your creditors by sending them what are called “proposals”. Most of these proposals are sent electronically but some creditors still live in the ice age and require these to be sent by mail or fax. Although, each creditor varies, most of them reply within a week with an “Accepted” or “Declined”. DebtWave usually has an 85-90% acceptance rate with the creditors. Now, when a creditor declines the initial proposal, most times it can be fixed. Some of the more common reasons for decline include the balance was incorrect and they want a slightly higher payment, the account number was incorrect, the name on the account doesn’t match or the account is already under a hardship plan. Regardless if the proposal has been accepted by your creditors, DebtWave will debit your payment and disburse the payment to your creditors. You have the option to make ACH payments weekly, bi-weekly, semi-monthly or monthly with DebtWave.

Debt management programs might sound unrealistic but our trained Credit Counselors have your best interest in mind!

Looking for debt relief but not sure how it works? You’ve come to the right place! Christian Credit Counselors is a non-profit Credit Counseling and Debt Management organization. For the last 24 years we have helped over 300,000 Americans to get out of debt.

Our Mission is:
1 STEP 1:
Meet your personal Credit Counselor, for your free no-obligation debt analysis. Your counselor will work with you, reviewing your debt information to find the solution that is right for you.
2 Step 2:
Your Credit Counselor will provide you with a free budget and debt analysis. You will have an opportunity to ask questions and learn about how much you will save on the program.
3 Step 3:
Our team will lower your interest rates and consolidate your payments into one easy monthly payment that you can afford. Say good-bye to dealing with your creditors, we take care of everything for you.
Our average client pays off their debt up to 80% faster! Our client pay off time ranges from 24- 60 months depending on their total debt. Are you ready to get out of debt, and see how much Christian Credit Counselors can save you?

Struggling with credit card debt? Debt mediation might be the step you’ve been looking for. We help create a personalized repayment plan and guide clients through negotiations so payments become more manageable.

See if you qualify: https://debtaidconsulting.com/debt-aid-contact-us-form/?utm_source=yt

???? Note: Our services cover credit card debts and unsecured loans from banks and financial institutions.

#DebtAidConsulting #DebtFreeJourney #DebtMediationPH #CreditCardDebtHelp #UtangSolutions #DebtReliefPH #SmartMoneyPH

With the total credit card debt amount rapidly approaching $1.2 trillion, many consumers are struggling to make ends meet. According to LendingTree, the average household in the United States owes $7,236 – a 38% increase from 2021. The average interest rate on credit cards currently is an ugly 24.26%. When you connect these stats with the fact that millions of Americans pay only the minimum payments each month, climbing out of debt seems nearly impossible for some in 2025. At least trying to do so on your own is.

Luckily, benefits like lower monthly payments and lower interest rates are available through Debt Management Programs. And thanks to record breaking savings at DebtWave in 2024, these benefits make it possible to achieve financial freedom.

Debt Management Plan Payment Reduction
Clients that enrolled onto DebtWave’s Debt Management Program (DMP) in 2024 merited an average payment reduction of $220. The average minimum payment plummeted from $915 to $695. This shatters the previous year’s record of a $193 payment reduction.

A big factor that made these savings possible are the attractive concessions offered by the credit card companies. In 2021, creditors wanted about 2.71% of the balance as the monthly payment to enter a DMP. In 2024, that percentage decreased to 2.54%. Additionally, payments on own increased from 2021 to 2024. Creditors required about 3.15% of the balance when making payments on their own in 2021. That percentage increased to 3.35% in 2024.

Credit card companies have been generous with interest rates on DMPs as well. In 2020, the average interest rate obtained on the DMP was 8.2%. In 2024, the average APR dropped to 6.8%, setting a new record at DebtWave. As payments on own increased in 2024, so did the interest rates on own. The average APR per client on own in 2024 peaked at 23%.

Average Debt Per Client Enrolled
The average balance enrolled per client soared in in the last two years. Another record high established in 2024 with the average surpassing $27,000. This is nearly double the amount of $15,799 in 2022.

When you combine the payment savings and the monthly finance charge savings, you have clients making significant progress to their principal balance. From 2020-2022, the average total combined monthly savings was less than $300. In 2024, the monthly savings nearly doubled to $596.

We expect and hope these incredible concessions to continue in 2025. For those facing high balances on their credit cards and experiencing a financial hardship, help is available. Taking the first step toward financial freedom is the most important step to take. Find more information about credit counseling and our program or get started online.

Credit card debt can feel endless, but there’s a smarter way to deal with it. Through a debt mediation program, you can potentially:

???? Reduce the total amount you owe
???? Stop constant collector calls and harassment
???? Create a payment plan that matches your actual income
???? Regain control of your finances without taking a new loan

If you’re working and struggling to keep up with payments, this might be the right time to explore your options.

???? Message Debt Aid Consulting International today to check if you qualify.
???? We handle credit card debts and unsecured loans from banks and financial institutions.

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#DebtAidConsulting #DebtFreeJourney #DebtMediationPH #CreditCardDebtHelp #DebtReliefPH #FinancialWellness #SmartMoneyPH

ACCC got Patricia’s Credit Score up from 515 to 715!

A friend told Patricia about American Consumer Credit Counseling (ACCC) and she gave them a call. Within 24 hours, she was talking to an ACCC financially certified Credit Counselor for a FREE CONSULTATION.

Her ACCC Credit Counselor spent hours with her over the phone. They looked over every bill, piece of debt, what she owned, and what exactly she was making. From that, they created a brand-new budget, and a plan to becoming DEBT-FREE. The next step? She signed up for ACCC’s Debt Management Program (DMP)

In the DMP, ACCC got her creditors to drastically lower her credit card interest rates, consolidate all of her debt into one lump sum, and set up a reasonable payment plan that she could afford. Not only was she crushing $18k of debt, but her Credit Card Score went up 200 points. She made it happen and all she had to do was call ACCC.

#ACCC #DebtRelief #CreditCardDebt #DebtFreeJourney.

So, what are you waiting for?

If you have any CREDIT CARD DEBT, contact us for a free consultation today! We could be saving you hundreds of dollars a month and thousands in the long run.

Call us at 866-206-5450

Our financial counselors are standing by to guide you on your journey to financial freedom. ????????

Check out our site for additional info:

https://bit.ly/3Vc8O93

#accc #creditcarddebt #creditcard #debtmanagement #payingoffdebt #payoffcreditcards #DebtManagementPlan #credit #creditscore

Is the program free? #DebtFreewithDebtAid #DebtAidConsultingInternational #DebtFree

Ready to take the first step towards debt relief? Message us to find out if you qualify for debt mediation. #DebtFreewithDebtAid #DebtAidConsultingInternational

If you are considering entering into a Credit Counseling or a Debt Management Program (DMP) in Canada, it is important to know the Pros and Cons of this debt program. A Credit Counselor can go through the other Pros and Cons, but this video focuses on how it affects your credit. Learn the Pros and Cons of this debt program, so you can know if it is the best solution for you and your family!

Which debt program is better for your Credit in Canada
https://youtu.be/q70E531ldqw

Credit Counseling or DMP Summary Image
https://creditgame.net/wp-content/uploads/2022/11/Credit-Counseling-DMP-detail-image.png

Comparing Debt Program Summary
https://creditgame.net/wp-content/uploads/2022/11/All-Debt-Programs-1.png

Pros and Cons of Bankruptcy – https://youtu.be/cvP1rDpt9ew
Pros and Cons of Consumer Proposal – https://youtu.be/3AI43NFT-U0
Pros and Cons of Orderly Payment of Debt (OPD) – https://youtu.be/MSK-fdILCPw
Pros and Cons of Debt Settlement – https://youtu.be/jHrNzW9NcjQ
Pros and Cons of a Consolidation Loan – https://youtu.be/0Uy_ZzozgUY

Why a High Score is not enough!
https://youtu.be/B0go_iYJ5eI

LINKS

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– https://creditgame.net/street-cred/

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– The Credit Game – https://www.amazon.ca/Credit-Game-Rules-Every-Canadian/dp/0991690222/ref=sr_1_1?crid=NRKVLXS64VG6&keywords=the+credit+game&qid=1674316061&sprefix=the+credit+gam%2Caps%2C124&sr=8-1

CREDIT COURSE:
• FOR ALL CANADIANS – The AHA! Credit Course – https://www.learnthecreditgame.net/offers/B9gPdPQo
• REBUILD CREDIT FOR MORTGAGE FINANCING – The Mortgage CREDucation Course – https://www.learnthecreditgame.net/offers/AQoFNg9a
• REBUILD CREDIT AFTER A DEBT PROGRAM – The Life after Debt CREDucation Course – https://www.learnthecreditgame.net/offers/ob2iH8yo

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DISCLAIMER This YouTube channel is produced for your general education and entertainment. We have done our best to ensure that the information provided is correct and helpful, however, nothing on this YouTube Channel should be considered financial advice. We cannot be held liable without knowing your specific credit or financial situation. Email me directly at info@CreditGame.net if you would like a one-on-one consultation.

#creditcounseling #creditgame #credittv