If you need help making sense of all your debt, credit counseling can help you sort it all out. Typically, you will be assigned a certified credit counselor licensed through the National Association for Certified Credit Counselors that will sit with you and go through a budgeting session and to get a general overview of your finance to determine how overextended you are.
If the counselor deems that you are suffering a hardship caused by debt, you may qualify for a Debt Repayment Plan with your existing creditors. The plan would require that you include all accounts you want to repay and then effectively closes them. From there on, you would pay one, low rate, monthly payment.
Credit counseling is a good option for people whose interest rates are exceedingly high. However, if your interest rates average around 10% or less, credit counseling might not be able to help you as you might not receive a noticeable rate reduction.
If you would like to know if you are a good candidate for credit counseling, call our toll free number, 1-800-761-4GOD (4463) to get in touch with a credit counselor. Or, you may choose to fill out the form to the left. A representative will call you shortly to discuss your options and help you to end the cycle of debt.