Credit Counseling

Consumer Credit Counseling is an alternative for consumers experiencing financial difficulties and unable to make their minimum payments. Like Freedom Debt Help’s program, Consumer Credit Counseling organizations act as an intermediary between you and your creditors. But Consumer Credit Counseling organizations typically attempt to reduce interest rate and fees on your debts, not the balances themselves. Through the reduction of fees and interest, Credit Counseling will generally allow you to get out of debt in about five years. However, you will end up paying back 100% of your balance plus interest, which will require a significantly higher monthly obligation than a typical debt negotiation program.

When evaluating Consumer Credit Counseling, check to see is if the organization is for profit or non-profit company. Non-profit Consumer Credit Counseling organizations are funded and supported by the credit card companies who you are making the payments to. This does create a potential conflict of interest, so be sure to understand if any Consumer Credit Counseling organization is collecting fees from both you and your creditors.

Consumer Credit Counseling organizations are right for some people, especially those who can afford the higher monthly obligation that is required in such a program. We have relationships with several leading organizations and will be happy to provide their information to you if that is what you decide is best for your situation.

To find out how what is the best program for your needs, please call today at 1-800-544-7211for a free consultation with one of Freedom Debt Help’s Consultants.