Has substantial debt been damaging your credit scores? Well then a trusted Daphne credit counseling agency might be the answer. Right now we have analysts ready to assess your debts and estimate how much a credit counselor in Daphne can save you.
For the most part, people interested in credit counseling have steady work, debts in the neighborhood of at least $10K, and can repay 2.5 percent of their total debts every month.
Credit counseling has you pay back everything you owe to your lenders, including interest, which is a lot better for your credit rating in the long term than debt settlement.
Analyzing Your Monthly Debt: Daphne (AL)
The average income for people in Daphne is $52,272 a year, which is $4,356 per month. You need to get hold of a credit counselor if you make $4,356 and find you are having to pay $1,873 to $2,178 per month on debts like rent, mortgage, loans, and credit cards.
If you’re in a lot of debt, your credit counseling expert may recommend that you participate in a debt management program. A debt management plan is a method of consolidating debt, as the money you owe each month is condensed into one monthly amount, but no loan is involved.
Every month, you will mail an agreed amount to your Daphne credit counselor, and they will then divide up the money among each of your creditors.
Steering Clear of Credit Counseling Shams: Daphne (AL)
As long as you find an experienced agency, credit counseling can really help. In point of fact, the Federal Trade Commission now mandates it for people filing bankruptcy in Alabama and across the country, but be wary of any credit counseling agencies in Daphne that say that they are able to:
- Halt all calls from collection agencies
- Remove unfavorable items from your credit report
- Reconcile collateralled debts, such as car loans
- Erase debt through a new federal government program
- Impose a fee upfront for their assistance
To learn more, read this FTC post on the subject.
Never choose a credit counselor that you can’t put your confidence in. We’ll help you find a good Daphne credit counseling specialist.
It is sometimes complicated to say just how much you will save from credit counseling, but your monthly payments should be lower on account of savings in interest and fees.
Credit counseling will save you money and time. Discover for yourself today.
Credit Counseling Costs: Daphne, AL
For profit Daphne credit counseling agencies who provide services over the telephone are forbidden by the FTC from charging you in advance.
Although not free, debt management is a low cost option for most Daphne residents. There is typically an enrollment fee of no more than $75, along with a bill every month of $25-$30.
The vast majority of DMP’s will require that you pay off 2.5 percent of your total debt a month. Here is a table that shows how much this amounts to, given differing levels of unsecured debt.
- $10,000 Debt: $210 to $250
- $20,000 Debt: $420 to $500
- $25,000 Debt: $525 to $625
- $35,000 Debt: $735 to $875
- $45,000 Debt: $945 to $1125
- $50,000 Debt: $1050 to $1250
- $80,000 Debt: $1680 to $2000
- $100,000 Debt: $2100 to $2500
Bankruptcy and Credit Counseling: Daphne, AL
We estimate that 125 of Daphne’s 19,675 residents have had to file for bankruptcy. Credit counseling is an FTC requirement prior to declaring bankruptcy. You can complete the session:
- In Person
- By Telephone
Keep in mind that you must sign up for credit counseling after bankruptcy to boot.
Consumer Credit Counseling Services in Daphne (AL)
Consumer Credit Counseling Service, also known as CCCS, may provide affordable credit counseling for local families. A Consumer Credit Counseling Service in Daphne, AL, will normally be:
- A Not For Profit
- Affiliated with the NFCC (National Foundation for Credit Counseling)
- Certified by the Department of Housing and Urban Development (HUD)
- Approved by The COA (Council on Accreditation)
- Member of the BBB
Normally a CCCS firm will provide more than just credit counseling. They will also offer Daphne bankruptcy counseling for Daphne residents, as well as housing and money management counseling. Be prepared to fork out approximately no more than $50 a month. To find the CCCS location that’s closest to Daphne, AL, check the listing of Daphne credit counseling services on our site or go to DebtAdvice.org.
Debt Management and Credit Counseling: Daphne, AL
- Alabama credit counseling firm? Email us!