Financial anxiety has become a major problem for Pell City residents.
We work with leading debt analysts agencies to help you get the debt relief you’re looking for.
Credit counseling firms can help people by:
- Locking down more affordable rates of interest from their credit card companies.
- Working with their creditors themselves.
- Disbursing funds to creditors month after month.
The average salary for people in Pell City is $35,556 per year, which is $2,963 each month. You need to contact a credit counselor if you make this much and find you are forking out $1,274 to $1,482 every month on debts that are secured or unsecured, for example rent, mortgage, loans, and credit cards.
Do you owe more than $10,000 of unsecured debt or have a DTI of 50% or higher? Then your credit counseling professional may well decide that you need to enroll in a DMP, or debt management program. As part of a debt management plan, your Pell City AL credit counselor may able to secure less expensive annual percentage rates and fees from your credit card companies.
If you sign up for a debt management plan in Pell City, the credit counseling firm will address paying your creditors each and every month. The only thing you need to do is make sure they get one single payment per month.
Tips on Avoiding Credit Counseling Ripoffs: Pell City (AL)
As long as you find an established firm, credit counseling can certainly help. In point of fact, the FTC now requires it for those declaring bankruptcy in Alabama and countrywide, but watch out for any credit counseling firms that say that they can:
- Put an end to all debt collection calls
- Eliminate secured debt, for example auto loans
- Promise the elimination of credit card debt
- Charge a fee in advance for their solutions
To read more, check out this FTC post on the topic.
If your credit card providers agree to accept your Pell City credit card counseling service’s debt management plan, you will profit from lowered rates and fees. Curious to determine how much credit counseling in Pell City, AL, could help you save?
Though not without cost, managing debt is an easily affordable solution for many Pell City residents. Enrollment typically costs less than $75, and a fee every month of around $40. The majority of DMP’s will require you to repay 2.5 percent of your total unsecured debt each month.
You might be interested in a summary of how much this is, based on different levels of debt.
Credit Counseling for Bankruptcy in Pell City, AL
More and more people in Pell City have been entertaining the idea of bankruptcy. There are 16,679 consumers living in Pell City, AL, and we estimate that 106 have found it necessary file for bankruptcy.
Credit counseling is required by law before declaring bankruptcy.
You can go through the session in person, by phone, or online.
Keep in mind that you must sign up for credit counseling after bankruptcy as well. To find approved Alabama credit counseling programs, click here. Alternatively, you can talk to a seasoned debt professional by filling out this form.
Credit and Debt Counseling Agencies in Pell City (AL)
- Credit Care, 2410 Cogswell Ave, 35125
- Consumer Credit Counseling, , 35004