Best National Consumer Credit Counseling


If you're drowning in debt, you may want to consider the best national consumer credit counseling service you can find before you start to legally improve your credit. It may help to first reduce your debt with credit counseling.

If so, consider getting free credit counseling from an organization accredited by the National Foundation for Credit Counseling. However, the Consumer Credit Counseling Service is probably one of the best national credit counseling non-profit organizations known.

They're like a not for profit debt consolidation company. Generally, their mission is to help you to get out of debt. They provide free credit card counseling and consumer credit debt consolidation. You will be assigned a counselor who usually starts by discussing your financial goals and then works with you to develop a debt management plan.

Your debt management plan will include monthly payments based upon terms negotiated with your creditors. They can be pretty good at getting your creditors to waive interest and late fees in return for regular monthly payments to pay off the full balance of your debt. In many ways this differs from how debt settlement companies operate.

Also, you may be asked to sign an agreement not to incur any additional debt during the term of the debt management plan. As you make monthly payments to the credit counseling organization, they use your payments to pay your creditors. In turn, the creditors may donate up to 15% of the payments back to the non-profit credit counseling organization.

But it's important to know that even when you working with the best national consumer credit counseling service, they will not provide credit repair or credit improvement services on your behalf. Although you may already be 60 to 90 days late when you contact a credit counseling service, your credit will still suffer. Your creditors will continue to report your accounts delinquent.

But after you complete your debt management plan, there are still credit improvement strategies you can use to legally improve your credit scores and rebuild your credit.

So get credit information and decide for yourself who to trust to help legally improve your credit.

Relevant Articles

Credit Improvement Tip#2

"Why It's Not in the Credit Bureau's Best Interest to Help You Fix Your Credit"

Sign up

Copyright © 2010 GCI, LLC All rights reserved