Debt Counselors

You want to reduce your debt, but before you sign up with a debt-counseling service, you want to know what debt counselors do. Before I explain, consider the following and see if this applies to you:

• Your credit card bills are overflowing and overdue

• You are getting threatening calls and letters from collection agencies

• You are just scraping by and can’t seem to get your debts under control

If the above sounds like your situation, you really should talk to a debt counselor. It may seem hard to trust someone else to manage your finances, but there are specialists that are trained to do just that. Let’s take a closer look at what debt counselors do.

Do not be fooled into thinking that a debt counselor will make your financial struggles vanish – this is not the case. Their job is to take a total view of your finances along with your income and help you figure out a way to manage them better. They also make recommendations to consolidate, renegotiate, or settle your debts so that your monthly payments can be much lower that what you are paying now.

A debt counselor will act as a go-between with you and your creditors. They will work to negotiate your high rates and high balances to more manageable rates and amounts that you can handle. They can do simple things like negotiate to get your late fees eliminated, or big things like getting you a reduction in your balances of up to 60% (varies on an individual basis). Most times they will be able to lower your monthly payments and create a plan for you to be debt-free in just 12-36 months. Debt counselors usually work with you to pay off bills like personal loans, IRS tax debts, Commercial/ Business Debts, Mortgage Debts, Student Loan Debts, credit card debt, medical bills debt, and even utility bills.

Now you may be wondering how debt counselors get paid.

They receive their payment with the money they are saving you. There is a small cost attached to using a professional, but many times they roll it into your debt-reduction plan so you do not have to come out of your pocket. Remember, the payoff is in the end when you are back on track with your finances.

The quickest way to start the process is right here online. We can connect you with a trained debt professional. Take charge right away. You have the tools to do so.