Can you only afford to pay the minimums on your credit cards each month? If that’s the case, enlisting the services of a professional credit counselor in Albertville AL could help. Why don’t we learn how much credit counseling can save you.
Credit counseling consultants help their clients create a long term plan of action for eliminating debt and repairing credit.
We have calculated that 932 of Albertville’s 25,269 consumers are falling behind on their monthly payments.
If your ratio of debt to income is higher than 50%, don’t delay; find professional help now. For the average Albertville resident that has an income of $2,621 each month, this is $1,311 or more each month.
Imagine if you’re spending $1,311 each month and your income is only $2,621. In that case, your credit counseling professional might advise you to enroll in a debt management program (DMP). A debt management plan is a type of debt consolidation, as your monthly payments will be condensed into a single amount, but no loan is involved.
If you enroll in any debt management program in Albertville, AL, your credit counselor will carry out paying the credit card companies each and every month. All you’ll have to do is hand them one single payment per month.
Keep in mind that credit counseling programs can help you pay back your debts in less time and at a less expensive interest rate, but you still will be paying back all of your current debts, inclusive of interest. Credit card debt negotiation may allow you to reimburse just 40-60% of your balance; however, it can obliterate your credit score.
Tips on Avoiding Credit Counseling Ripoffs: Albertville, AL
If you hook up with a good company, credit counseling can certainly help. Actually, the FTC now mandates it for individuals declaring bankruptcy in Alabama and across the nation. Nevertheless, this is how to ensure that your Albertville credit counseling company is highly regarded:
- Request testimonials
- Verify their accreditation
- Be sure that your consultant is certified
To read more, read this FTC post on the topic.
How Much Will Debt Management Help Save?
If your credit card issuers agree to accept your Albertville credit card counseling program’s debt management plan, you’ll benefit from dramatically reduced rates of interest, decreased fees, and lower payments per month.
One of the leading Albertville debt experts can have a look at your finances and let you know how much you could save.
Credit Counseling Rates: Albertville, AL
Debt management programs are very inexpensive. They will cost you $25-$3 on a monthly basis, and the price is built into the amount you pay each month.
How much will your monthly payments be? That will depend on your credit balances. Usually 2.5% of your total debt.
Credit Counseling for Bankruptcy in Albertville (AL)
It’s estimated that 161 of Albertville’s 25,269 residents have been forced go into bankruptcy. Credit counseling is a legal requirement before filing for bankruptcy.
Consultations can take place:
- One On One
- On The Phone
Not every non profit credit counseling company in Albertville, AL, can give you this certificate. For an approved list of approved pre-bankruptcy credit counseling programs for Albertville residents, visit here, or you can get in touch with a skilled debt expert:
Non-Profit Credit Counseling Services in Albertville (AL)
Countrywide, the biggest not for profit credit counseling group is the NFCC, and their network is often called Consumer Credit Counseling Service, or CCCS. In Albertville, Alabama, a Consumer Credit Counseling Service will usually be:
- A Not For Profit
- Part of the NFCC (National Foundation for Credit Counseling)
- Accredited by the Dept. of Housing and Urban Development (HUD)
- Have CCCS in their Name
Generally a CCCS firm will offer Albertville bankruptcy credit counseling, money management courses, and housing help.
To find the nearest CCCS agency in Albertville, AL, take a look at the directory of Albertville credit counseling firms on our site. Alternatively, you can check out the official NCFF website.
Credit Counseling / Debt Counseling Agencies in Albertville (AL)
- Alabama credit counseling firm? Email us!