What if it were possible to pay off the money you owe and get your finances back on track in 3 to 5 years?
We have partnered with debt management and credit counseling companies to get you the debt relief you need.
Credit counseling was originally created for credit card issuers to retrieve debts from consumers who were past due on their repayment schedules without resorting to collectors. As a result, the vast majority of credit card counseling services are very affordable.
Managing Debt in Altoona (PA)
Do you have a debt to income ratio of greater than 50%? If so, you need to look into credit counseling immediately. For the average Altoona card-holder who has an income of $1,677 per month, this is more than $839 each and every month.
Debt management programs, often known as DMPs, are often linked with with credit counseling. A debt management plan is a method of debt consolidation, as your credit card, loan, and other debt payments will be consolidated into a single amount, but no loans are involved.
Under a debt management plan in Altoona, the credit counseling service will deal with paying the credit card companies each month. All you have to do is provide them with a single payment on a monthly basis.
CCCS vs Other Debt Relief Alternatives
Most debt management programs strive to have out of debt after 36 to 60 months. 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 credit lines. Then again, if you were to opt for a debt settlement program, you would have to expect your credit scores to be gravely damaged. While a Altoona debt consolidation loan may keep your credit ratings from plunging, these loans are risky because you may be in danger of losing the property you used to collateralize the loan
Steering Clear of Credit Counseling Shams in Altoona, PA
Provided that you get a reputable organization, credit counseling can help. For that matter, the FTC now demands it for people who want to file bankruptcy not just in Pennsylvania, but countrywide. All the same, this is how to be certain that your Altoona credit counseling organization is reputable:
- Demand references
- Look at their certifications
- Check that your consultant is licensed
Please remember, being a non profit won’t necessarily mean that a credit counseling agency is reputable, and vice versa. Never work with a credit counselor that you can’t trust. We will assist you in finding the right Altoona credit counseling professional.
As you know, consumer credit card debt is extremely rough simply because the exorbitant APR’s make sure that your debt will keep growing. Any effective credit counseling specialist in Altoona should be able to have a lot of your credit card companies scale back your interest levels and late fees, helping you save a small fortune down the road. A brief evaluation of your financial situation is needed to provide an exact savings quote.
How much does a debt management plan cost you? In most cases $25-30 a month, along with a startup fee of less than $100.
If you can afford to repay 2.5% of what you owe every 4 weeks, you could be debt free in around 40 months, assuming that your credit counselor can lock up your APR. If he can’t, it’s going to require appreciably more time.
Credit Counseling / Debt Counseling in Altoona, PA
- CCCS/Consumer Credit Counseling Service of Western PA, 917 Logan Blvd, 16602
- A American Debt Consolidation, 1119 12th St, 16601