We match you with prominent debt management and credit counseling agencies in Athens to help you get the help you’re looking for.
Excellent candidates have the following:
- Debts of at Least $3,0000
- Ability to Allocate $250-$300 Toward Monthly Payments
Credit counseling has you pay back everything you owe to your creditors, including interest, which is healthier for your credit rating over time.
Of the 42,320 people living in Athens, AL, it’s thought that 1,561 are now delinquent on their credit card payments.
Credit Card Debt in Athens: How Much is Too Much?
The average income in Athens, AL is $2,412 monthly. A consumer who has a salary of this much should carry debts of no more than $868 per month, which is 36 percent of their earnings.
If your monthly debts add up to more than 43% of your earnings, you are in danger. If you get paid $2,412, the Athens average, we’re talking about only $1,037. Having said that, countless Athens residents spend more than half of their income ($1,206) on these payments.
Do you have at least $10,000 in debt or have monthly payments related to rent, loans, or credit cards that take up half of your earnings? Then you might need to enter a debt management plan (DMP). A debt management program is a type of debt consolidation, in that your payments to creditors will be consolidated into one monthly sum. However, there’s no loan necessary. Under any debt management program in Athens, the credit counseling agency will control paying the credit card companies each and every month. All you’ll have to do is give them the predetermined monthly payment.
Credit counseling typically doesn’t reduce your credit ratings in the end, but lending companies may be unwilling to let you have new automobile or property loans when you’re enrolled with a credit counseling agency in Athens, AL.
Identifying Credit Counseling Scams: Athens, AL
As a program, credit counseling and debt management plans have been recognized by the Federal Trade Commission (FTC) and other governmental authorities, but stay clear of any credit counseling firms that say they are able to:
- Put an end to all debt collector calls
- Take away unfavorable items from your credit report
- Negotiate secured debts
- Guarantee the elimination of unsecured debts
- Keep credit card issuers from taking legal action against you
- Charge you in advance for their assistance
Don’t forget, being a not-for-profit does not necessarily mean that a credit counseling service is bonafide, and vice versa.
How Much Could Credit Counseling Help You Save?
It is difficult to tell exactly how much you will save. However, your creditors may agree to waive service fees and bring down annual percentage rates if you’re enrolled in a debt management plan.
Want to discover how soon credit counseling could get you out of debt?
Bankruptcy Counseling: Athens (AL)
It’s estimated that 270 of Athens’s 42,320 residents have filed for bankruptcy. Credit counseling is an FTC requirement before filing for bankruptcy. You are not required to enroll with a local Athens credit counseling service to do this. Services can be found on the web and by phone, not just personally.
In most cases, you will need to take part in credit counseling after bankruptcy too.
To find approved pre-bankruptcy credit counseling agencies for Athens residents, click the link, and you can converse with an experienced debt advisor:
Debt Management and Credit Counseling Agencies in Athens (AL)
- A American Debt Consolidation, 201 W Green St, 35611