Consumer Credit Counseling Massachusetts
Consumer Credit Counseling For Massachusetts (MA)
Are you living from paycheck to paycheck? Are creditors getting impatient because you aren’t settling your debts? Are you unable to save money? If this is your situation, you may want to consider consumer credit counseling. These are services that are designed to help you regain financial health. They help you work out a debt repayment plan that is affordable and that gradually reduces your debt. Although consumer credit counseling isn’t an instant solution, it will help you to pay off what you owe in a manageable way.
Consumer credit counseling steps in Massachusetts
When you sign up with a consumer credit counseling agency, you can expect them to take the following steps to help you. Keep in mind that consultation and analysis is free.
1. The first thing they do is an assessment of your debt to make sure that consumer credit counseling is the best solution for you. They do this because not all debt problems can be helped using this method.
2. Once they ascertain that you are suitable for consumer credit counseling, they help you establish a repayment plan that is acceptable. At the same time they will get in touch with your creditors to inform them of the new repayment plan while negotiating with them to accept affordable payments.
3. Depending on which consumer credit counselor you’re using, you may be asked to sign an agreement stating that you will pay as agreed and you will not accumulate any further debt until the current debt is cleared.
4. They counsel you on the importance of keeping a good credit score and give you guidelines on how to better manage your finances.
What kinds of debt does consumer credit counseling help to resolve?
IRS tax debt: If you haven’t been paying your taxes on time and they have accumulated, you can contact a consumer credit company, submit your information and let them create a repayment plan while at the same time negotiating with the IRS on your behalf.
Business and commercial debt: If your business is in debt you don’t have to choose bankruptcy. Consult with a consumer credit counselor first and find out if they can help.
Mortgage debt: Don’t let the bank repossess your home. Depending on how much you owe you a consumer credit counselor may help you pay the bank.
Credit card debt: This is the most common kind of debt and many people have managed to meet their obligation through a consumer credit counseling service.
Medical debts: So long as you still have an income a consumer credit counseling service can help you pay overdue medical bills.
Student loan debt: This is also very common and many people have cleared their college education debts through a consumer credit counseling service.
How to choose a consumer credit counseling agency in Massachusetts
There are 3 things that you should take into account before you hire a consumer credit counseling service.
• They should be licensed with the National Foundation for Credit Counseling and the Association of Independent Consumer Credit Counseling Agency.
• Check how long they have been in business.
• Find out how much they charge. Usually you will pay a sign-up fee and monthly management fee. Because you are working to get out of debt you should pick a service that you can afford.
What are the benefits of using a consumer credit counseling service in Massachusetts?
This is a good question to ask especially because there are other recommended ways to get out of debt. This particular method comes with several advantages.
• The biggest advantage that consumer credit counseling offers is that you get to avoid bankruptcy. While it is true that declaring bankruptcy helps your creditors go away, it has a huge negative impact on your credit score.
• You get to pay debts in small, affordable amounts. In fact, consumer credit counselors can lower debt by negotiating with your creditors to hold interest for a fixed period.
• You get peace of mind. The nagging feeling that you owe and cannot pay goes away. In addition to that, creditors stop calling you.
• They help you regain financial health.
You don’t have to live with the burden of debt any more. Contact a consumer credit counseling service and let them help you.
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Consumer Credit Counseling Solutions and Help Massachusetts (MA)
