More and more Auburn residents are looking to credit counseling services in Auburn to help them get out of debt. Here at Debt Relief Alabama, we help our consumers find the debt management and credit counseling programs in Auburn, AL that fit them best.
Credit counseling has numerous advantages:
- Cheaper APR’s
- Speedier Relief From Debt
- Hands Off Payment of Creditors
We have calculated that 1,769 of Auburn’s 47,967 inhabitants are late on their monthly payments.
Do You Need Debt Counseling in Auburn, AL?
Lenders want to know how much you make, how much you owe? Figuring this out is very simple. Let’s look at several data based around earnings of $817 monthly, the Auburn average:
- $294 (36%): Ideal
- $294 to $351 (36-43%): Acceptable
- $351 to $409 (43-50%): Problematic
- $409 plus (50%): Acute
Debt Management: Auburn (AL)
Do you have at least $10K in debt or have monthly payments for rent, loans, or credit cards that cost 50% your wages? Then your credit counseling specialist could possibly say you need to sign up for a debt management plan (DMP). If you sign up for a debt management plan, your Auburn AL credit counselor may able to get less expensive annual percentage rates and better terms from the companies you borrowed from. On a monthly basis, you will send a single sum to your Auburn credit counseling company. They divide up the funds among your creditors.
Many debt management plans aim to have your debts paid in full in less than five years, often less. Though this should not make your credit score go down, it may be harder to get approved for new lines of credit. However, if you were to choose debt settlement, your credit scores would probably be seriously damaged.
Avoiding Credit Counseling Scams in Auburn (AL)
As a program, credit counseling has been checked out by the FTC and other state and federal authorities. But the truth is, respected credit counseling agencies in Auburn and throughout the country typically have:
- Authorized Advisors
- Legit References
- Non-Profit Status
- Straight Replies to All Inquiries
- Gratis Counseling
- Individualized Action Plan
Keep in mind that not for profit status isn’t going to necessarily mean that a credit counseling organization is respectable, and vice versa.
It is not easy to tell how much money it’s possible to save. Thank goodness, it can often bring about reduced monthly bills by way of diminished, even suspended, interest and penalties or fees.
Credit counseling saves you money and time. Learn more today.
Credit Counseling Pricing in Auburn, AL
Generally, the advisement side of things is free. Although not free, managing debt is a highly affordable option for a lot of Auburn residents. There is typically an enrollment fee of no more than $75, along with a monthly charge of only $40.
In a debt management plan, the money you shell out each month repaying your debt is usually equal to your minimum credit card payment: 2.5%.
Let’s look at a table showing you how much your monthly payments would be, based on varying degrees of unsecured debt.
- $10,000 Debt: $210 to $250
- $15,000 Debt: $315 to $375
- $20,000 Debt: $420 to $500
- $25,000 Debt: $525 to $625
- $35,000 Debt: $735 to $875
- $45,000 Debt: $945 to $1125
- $80,000 Debt: $1680 to $2000
- $95,000 Debt: $1995 to $2375
Credit Counseling / Debt Counseling Agencies in Auburn, AL
- A American Credit and Debt Counseling Service, 126 N College St, 36830
- Consumer Credit Counseling Service, , 36830