Credit Counseling: Semmes (AL)

AL Debt Relief

Let’s suppose someone could slash your interest levels and eliminate calls from creditors.

We work with leading debt management and credit counseling agencies to help you get the debt relief you need.

Whereas credit repair is a method to raise your credit rating, credit counseling is centered on debt management.

We estimate that 568 of Semmes’s 15,389 inhabitants are in need of credit counseling.

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Do You Need Credit Counseling in Semmes, AL?

Credit Counseling Semmes AL

Lenders want to know how much comes in, how much is going out? The calculations are easy. Let’s consider several data based on an income of $42,209 each year. For residents of Semmes, this is an average income.

  • $1,266 (36%): Ideal
  • $1,301 to $1,477 (37-42%): Acceptable
  • $1,512 to $1,759 (43-50%): Too High
  • $1,759 or more (50%): Severe

Managing Debt: Semmes (AL)

Debt Counseling Semmes AL

An integral aspect of credit counseling is debt management. Why enroll in a debt management plan? Because you may be able to benefit from:

  • Decreased Interest
  • Reduced Debt Collection Phone Calls
  • Single Payment Amount
  • Faster Debt Payoff

All you’ve got to do is mail a single check to your Semmes credit counselor. They’ll mail the proper sums to your creditors.

Typically, consumer credit counseling agencies strive to have your debts paid back inside of 36 months, oftentimes less. While you’re working with a credit counselor, your credit scores isn’t supposed to drop, but it may be tricky to get approved for new a credit line. Having said that, if you were to opt for debt settlement, your credit scores would probably be severely impacted. Debt consolidation loans in Semmes might shield your credit score, since they pay back everything you owe at once. However, this method is hazardous because being late on your payments could allow your loan provider to foreclose on the property you used as collateral for the loan

Selecting a Credit Counseling Firm in Semmes, AL

Credit Counseling Semmes AL

As an industry, credit counseling has been recognized by the Federal Trade Commission and other federal authorities. But be wary of any credit counseling services that claim they can:

  • Halt all calls from collectors
  • Clean unfavorable items from your credit score
  • Charge a fee up-front for their solutions

To read more, read this FTC post on how to choose a credit counselor. Never settle for a credit counselor that you can’t put your confidence in. Why don’t we assist you in finding the right Semmes credit counseling professional.

>> How Much Could Credit Counseling Help You Save? Find out!

Everything you owe will have to be paid back, but your monthly payments should be smaller because of reductions in interest rates and penalties.

Want to find out how soon credit counseling could get you out of debt?

Credit counseling firms are prohibited from charging upfront fees by the FTC. How much does a DMP cost? Generally $25-$30 per month, coupled with a setup fee of roughly $100. With regards to the exact payments, you’ll normally be required to submit a payment of 2.1-2.5% every month for disbursement to your various credit card companies.

Below is an outline of how much this is, based on varying levels of credit card debt.

Debt 2.1% 2.5%
$10,000 $210 $250
$20,000 $420 $500
$35,000 $735 $875
$45,000 $945 $1125
$50,000 $1050 $1250
$70,000 $1470 $1750
$75,000 $1575 $1875
$100,000 $2100 $2500

Non-Profit Credit Counseling Service: Semmes, AL

Consumer Credit Counseling Semmes AL

CCCS, an abbreviation for Consumer Credit Counseling Service, may provide non profit credit counseling for Semmes residents. In Semmes, Alabama, a Consumer Credit Counseling Service will generally be:

  • A Non Profit
  • An NFCC Affiliate
  • BBB Member

Generally a CCCS agency will provide not only nonprofit credit counseling, but also Semmes bankruptcy credit counseling, money management education, and housing help.

To locate the closest CCCS office in Semmes, AL, have a look at the directory of Semmes credit counseling agencies on our site or stop by DebtAdvice.org.

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Some non-profit credit counseling services in Semmes, AL, could be religion-based. They offer similar offerings to regular agencies.

Debt and Credit Counseling Agencies in Semmes (AL)

  • Alabama credit counseling firm? Email us!