Credit Repair Scams: Tips to Avoid Credit Counseling Scams FindLaw

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What is Consumer Credit Counseling?

What is Consumer Credit Counseling?

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.


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.


Credit Counseling Services Help Lower Your Monthly Credit Card Payments

5 Ways to Compare Credit Counseling with Debt Settlement

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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.
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Considering Consolidated Credit Counseling Service

My close friend Mark was one who always had a knack for spending even before his salary comes in. And this was a habit that eventually brought his financial ruin, something that almost ruined his life until he discovered consolidated credit counseling service. Just like so many other citizens out there today, Mark’s tendencies to spend a lot more than what he could afford left him deeply in debt complications, especially through his multiple credit cards. Once he breached the credit limits of his credit cards and was unable to obtain any more new cards due to his precarious financial position, only then did he stop and think of how to eliminate his debts. Fortunately it was not too late. As bad as his credit report was, he still had an opportunity to improve on it and eliminate his debts. After evaluating numerous debt settlement and elimination solutions, Mark decided to proceed with the tried-and-tested consolidated credit counseling service. Today Mark has managed to control his spending habits, and is on his way towards a debt-free future within the next three years once all his debts have been eliminated. All his credit card accounts have been consolidated under a single debt management plan, and are slowly being paid off on a monthly basis.

If you are interested in the fundamentals of consolidated credit counseling and how the service can help you overcome debt complications, read on! Many of us are struggling financially with the unpredictable economy condition, something that has prompted a lot of us to opt for credit or loans to help cope with the increasing financial needs and requirements that we have. Failure to manage these credit accounts would leave us struggling to maintain a credible credit score, something that would affect our chances to secure competitive loans for home or vehicle purchases in the future. And if you find that you are struggling to cope with the monthly repayment amounts of your credit accounts, you should probably seek professional assistance, one of which is credit counseling.

When you opt for consumer credit counseling through one of the firms that offer this service, you would be assigned with a personal financial counselor. The counselor would then take time to review and analyze your current and past financial condition, and evaluate several items such as your total debt, your credit accounts, your living expenses, as well as your total household income. Once your financial condition has been established, the counselor would then proceed to draw up a budget that would allow you to live within your income and help cut out any unnecessary expenditure.

The counselor would also generate a debt-elimination plan for you, and would usually get in touch with your lenders and creditors for debt negotiation purposes to garner lower interest rates on your behalf for your credit accounts. One of the most popular methods of debt elimination that is usually offered by credit counseling firms is the debt consolidation loan. Through this consolidated loan, you would successfully combine all your credit accounts under a single loan, and this would help you eliminate all your debts in a time-effective manner. In return you would not need to deal directly with your lenders anymore; instead you deal through your credit counseling firm that would make the payments to your creditors.

Credit counseling also helps you establish healthy financial habits that would help you become more careful with your finances in the future. The service also helps you get out of debt quickly and effectively, but only if you stick to your monthly payments to your credit counseling firm and do not default on them. Opting for credit counseling might show up on your credit report and affect your credit score slightly, but I guess it is better to take a slight hit now and eliminate your debts slowly but surely rather than be stuck with debt for years to come. And credit counseling firms do charge an upfront amount as their fees as well, so before you opt for one of these firms, you may confirm that you can afford it first.

If you are drowning in a myriad of debt accounts and are considering bankruptcy as an option, perhaps credit counseling would be the better option!

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Image from page 34 of “Bonnie Scotland” (1861)

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Image from page 34 of “Bonnie Scotland” (1861)
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Identifier: bonniescotland00lipp
Title: Bonnie Scotland
Year: 1861 (1860s)
Authors: [Lippincott, Sara Jane Clarke], 1823-1904. [from old catalog]
Publisher: Boston, Ticknor and Fields
Contributing Library: The Library of Congress
Digitizing Sponsor: Sloan Foundation

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very much beloved and respected. It is about sixty-four years since Robert Burnsdied, and now his name is known and his songsare sung the wide earth over, — which provesthat when God gives a man true genius, all theneglect, poverty, and trouble in the world cannotkeep it down. Yet there were many who wouldhave lived and died happier, if, when they had theopportunity, they had given good counsel andbrotherly aid to poor Burns, and, above all, com- 18 ALLOWAY. forted him on his death-bed, with the promise thathis family should not be friendless when he wasgone. Dear children, when you read or hear sung Auld lang Syne, Bonnie Doon, HighlandMary, John Anderson, and other of the sweetsongs of Robert Burns, I am sure you will thinkgently of the poet, — will pity him for his errors,as well as for his misfortunes, and feel admirationand gratitude for one who, out of a troubled lifeand a sorrowful heart, made so much music forthe world. flasgnm. SIR WILLIAM WALLACE. SIR WILLIAM WALLACE. 21

Text Appearing After Image:
LASGOW is considered thethird city of Great Britain inwealth, population, commerce,and manufactures. It is situ-ated in Lanarkshire, on the river Clyde, at thepoint where it becomes navigable to the AtlanticOcean. This city is said to have been founded as earlyas 560, by St. Kentegern, who appears to have 22 GLASGOW. been remarkably active and enterprising for aChurchman. Yery little is known of the earlyhistory of Glasgow, except as connected with itsfamous minster, founded in the reign of KingDavid the First, in 1136, and standing yet. It isa dark, imposing edifice, more stupendous thanbeautiful, and chiefly remarkable as being theonly cathedral in the realm which escaped de-struction in the Reformation. The Protestants ofGlasgow, very much to their credit, unceremoni-ously declared against the demolition of thebuilding; but they made a sort of burnt-offeringto the spirit of the Eeformation, of the picturesand images of the saints, of altars and confes-sionals. After it passed into

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What Happens in a Credit Counseling Session

In a Credit rating Counseling Session, you will fulfill with a licensed therapist to discuss your funds, consisting of costs as well as financial obligation, and create a budget strategy that is best for you. Customer Credit scores Counseling Solution is a branch of the National Foundation for Credit scores Therapy as well as has offered Texans because 1984. To call CCCSSA or arrange a consultation for a Credit Counseling Session, phone call 800-410-2227 or visit to learn more.

A Guide To Credit Counseling

Debt counseling has become a $ 7 billion dollar industry, but not all of them play fair. 10 years ago the credit counseling industry was dominated by the National Foundation for Credit Counseling, who nonprofit affiliates, usually known as Consumer Credit Counseling Services, would negotiate lower interest rates and payment plans for people who were behind in their payments. Now Consumer Credit Counseling Services are in just about every city.

The services have plenty of competition now. A rise in consumer debt in the 1990s helped create hundreds of rivals. Some of these rivals have million-dollar advertising budgets, slick Internet come-ons and sound alike names.

Some of the recent rivals actually will negotiate a good repayment plan, while others only charge large, upfront fees, pay their executives even larger salaries and pocket most of the money that should be going to pay off creditors. Some of these companies will target people who are not late on their payments, but are tired of the high interest fees..

The really bad ones of the lot are not even credit counselors. They will usually bill themselves as specialist in “debt settlement”, they promise to help you get rid of your debts for pennies on the dollar, of course that would be after you pay their upfront fee of $ 3000 or more. In many cases by the time someone, who could do something about them, hears about these types of companies, they have already left with the victim’s cash, disconnected their phone lines, and are now doing business under a different name somewhere else.

Since these people don’t seem to have any trouble finding someone in need of their services, there are plenty of people out there who need the services of a legitimate credit counseling company. It is hard to get an accurate count of the number of people who have used credit counseling services for debt repayment. Of those in debt repayment plans only about half are expected to successfully complete their repayment plans. The other half will drop out, with some of them filing for bankruptcy.

Most credit counseling services will negotiate lower payments with credit card companies and other lenders, then will make the arranged payment to the creditors using a check or an electronic transfer given to them by the client.

Many of the credit counseling services receive their fees from the lenders themselves, which is sent back to the service from the portion they have received. Because of this many critics have accused credit counseling services of being a tool of the lending industry.

Because the payment system is known as “fair share”, it has encouraged the growth of credit counseling services. This has caused some agencies, driven by competition, to openly target consumers who have not fallen behind in their debts by promising lower interest rates. This practice has angered credit card companies and many times hurts the consumers. These consumers find out too late that these types of plans can hurt their credit and are unnecessary.

Just so that you understand. If you are able to make your payments and are current on all of your accounts, you do not need the services of a credit counseling agency. If your interest rates are too high, many time you can negotiate a lower rate with your credit card company, all you have to do is ask or threaten to take your business elsewhere.

If you are unsure whether or not you need a credit counseling service, look at this list below.

You are unable to pay even the minimum payment on your credit cards.

You are always late paying one or more of your regular bills.

You have collection agencies and your creditors calling you all the time.

You have tried to work out a reasonable payment plan with your creditors, but have been unable to do so.

If you are too far in debt, credit counseling may not be able to help. Your creditors will have their limits as to how far down they will go, and the credit counseling service may not be able to get your payment low enough to give you breathing room or to help you get out of debt. It this is the case, bankruptcy may be the best option for you.

If you are in need of a credit counseling service, here are some things to watch out for.

Large upfront fees Consumer Credit Counseling Services will usually charge a $ 10 set-up fee. Do not go with anyone trying to charge you more.

No accreditation Legitimate credit counseling services are affiliated with the National Foundation for Credit Counseling or the Association of Independent Consumer Credit Counseling Agencies.

Delayed or missing payments Some companies will pocket the first payment as a fee rather than pay your creditors. This can hurt your credit rating. Make sure you know the amount going to your creditors and when it is sent to them.

Unrealistic promises Watch out for companies who claim they can get rid of your debt for no money or for very little money without hurting your credit rating. Legitimate credit counseling services help you to pay back what you owe and will tell you upfront that there may be some affect to your credit rating.

Ray Subs works with Debt Relief Place as a public relations consultant, more information about Debt Relief Place can be found at Debt Relief Place

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Image from page 127 of “possibility emblems, divine and ethical, antient and modern-day, or, Delights for innovative, in above fifty select emblems , curiously ingraven upon copper-plates : with fifty pleasant poems and lots, by means of lotto, for illustrating age

Check out these credit counseling pictures:

Image from web page 127 of “Choice emblems, divine and moral, antient and modern, or, Delights for the innovative, in above fifty select emblems , curiously ingraven upon copper-plates : with fifty pleasant poems and lots, by way of lottery, for illustrating age
credit counseling
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Identifier: choiceemblemsdiv00rbau
Title: Choice emblems, divine and moral, antient and modern-day, or, Delights when it comes to ingenious, in above fifty choose emblems , curiously ingraven upon copper-plates : with fifty pleasant poems and lots, through lotto, for illustrating each emblem to promote training and great counsel by diverting relaxation
Year: 1732 (1730s)
Writers: R. B., 1632?-1725?
Subjects: Emblems
Publisher: London : Printed for Edmund Parker …
Adding Library: Getty Analysis Institute
Digitizing Sponsor: Sloan Foundation

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d that both Shame and need on them attends. Such-like is the eftate, just who (to appearHlch guys to other people) do with inward Pain,A gladfome outward Port defire to bear,Tho* they at laft nor riches nor Credit gain.And fuch are thofe^/y/crr/V^^, who ftrivcFalfe Hearts beneath Fair-fpoke-a-Words to cover up :Por they oervail themfelves however with a Sive^Thro which their particular Purpofes at size are fpyd:And then they both wofully lamentTheir hriitijh Folly^ or fo hardened growIn finning, which they never can repent 5Kay, jeft and feoff at their particular Overthrow. But no falfe Vail can ferve (when Jesus will fmite^To fave a Scorner^ or an Hypocrite. Good deal a 5 divine and Moral. l o iLot a5. Consume heed you don’t very forgetThat you’re dancing in a Net>Many you can find your JVays do fee,Altho you might think unfeen you be. Your Faults we wil^ no nearei* touch jMethinks your Emblem blabs an excessive amount of ^However, if you mend what’s amifs,You fhall be neer the worfe with this. F 5: Emblem XXVi: 102 Selection Emilemsy Emblem XXVI.

Text Appearing After Image:
Gaudet T^tkntia durk^ The !Divfne and Moral. i o 5

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Image from web page 176 of “Outdoor life and Indian stories : making open air life appealing to young Americans by telling all of them about woodcraft, indications and signaling, the performers, fishing, camping … : additionally tales of noted hunters and scouts, great Indian
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Identifier: outdoorlifeindia00elli
Title: Outdoor life and Indian stories : making open-air life popular with youthful Us citizens by telling them about woodcraft, signs and signaling, the performers, fishing, camping … : in addition stories of noted hunters and scouts, great Indians and warriors … all of them true and interesting
Year: 1912 (1910s)
Authors: Ellis, Edward Sylvester, 1840-1916
Subjects: Indians of North America Camping
Publisher: [Philadelphia? : s.n.
Adding Library: New York Public Library
Digitizing Sponsor: MSN

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ust could possibly be put in those of th<*other battle, and sad certainly had been it for Moravian Christiansthat they would not act upon his very own advice. Before entering Salem, the chief made all his warri-ors keep their particular weapons behind, so as not to alarm their particular hosts.When prepared toleave, he turnedand addressedthe assembledChristians thank-ing all of them for theirhospitality, andassuring themthat they couldalways dependupon his stead-fast relationship. The next event will illustrate a peculiar stage ofthe personality of the remarkable man : one of the more noted scouts related to ColonelBrodheads army, and afterwards with Harmar, St. Clair andWayne, was an Irishman known as Murphy. He was a rollick-ing other, with the wit and waggery of their individuals, brave tothe final degree, and a master of woodcraft. Some of the exploitswith which he is credited sound amazing. No Indian couldfollow a shadowy^ path through the woods much more truly, and fewwere his equal in sources and quickness to look at right

Text Appearing After-image:
A FIGHT AT ODDS 164 WARRIOR AND KNIGHT thing to do in a crisis. He was tall, bony, homely of fea-ture, with a surprise of fiery red locks and a freckled countenance.With numerous, his biggest present was their fleetness of base. In allthe events by which he engaged he never met his superior.Simon Kenton, just who, in his prime, could run like a deer, saidMurphy managed to lead everybody else. This point became popular to the Indians, and manyof all of them help with their utmost attempts to recapture him. Awareof the valuable assistance he gave toward whites, they might havegiven a great deal to lay on the job him. He previously slain and scalped(sorry to say that barbarous rehearse had not been restricted towards redmen) a few of their many noted warriors, and there would havebeen general rejoicing among all the tribes could the meansbe found to test their destroying profession. Really, catastrophe came to Murphy finally. He previously a hardfight with three Delawares, one summer time mid-day, in thedepths of backwoods. He shot one, wounded the next,and

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Credit Counseling – 5 Things You Didn’t Know About Credit Counseling

Credit Counseling - 5 Things You Didn't Know About Credit Counseling

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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 for a set-up and monthly thereafter. Members of the Association of Independent Consumer Credit Counseling Agencies must agree to cap the initial charge at and the monthly maintenance fees at .

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.
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