Have you thought about enlisting the help of a trusted counselor to establish a a strategy to get free of debt? In this case, you’ve come to the right place. Credit counseling, also referred to as debt management, is a low-cost way of reducing your debt payments that doesn’t involve completely wrecking your credit score.
As for the cost of credit counseling, Hanover residents typically find that it’s the most affordable debt management solution.
Managing Debt: Hanover (PA)
Typically, Hanover residents make $14,666 a year. If possible, a consumer who makes this much should have combined loan, rent/mortgage, and credit card payments of just $440 per month, which is 36% of their pre-tax income.
If your monthly debts make up more than 43% of what you earn, you are struggling. If you get paid $1,222, the Hanover average, this is just $525. You wouldn’t be the only one: lots of Hanover’s consumers spend more than half of their income ($623) on these payments.
What if you’re having to pay $611 monthly, but you only make $1,222? In that case, your credit counseling specialist could very well have you take part in a debt management plan or DMP. By signing up for a debt management plan, you may profit from:
- Less Expensive Interest
- Decreased Debt Collection Telephone Calls
- One Payment On a Monthly Basis
- Speedier Debt Relief
With any debt management plan in Hanover, PA, your credit counseling company will manage paying your creditors each month. The only thing you’ll have to do is hand them one single monthly payment.
Settling on a Credit Counseling Agency in Hanover, PA
All in all, credit counseling has been vetted by the Federal Trade Commission and other governmental authorities. All the same, it is important to make perfectly sure that any credit counselor, is reputable. You can do this in various ways, including checking their consumer reviews, examining their accreditation status, and taking a look at their BBB reviews.
For additional information, check out this FTC post on the topic.
Credit counseling isn’t going to limit the original amount you owe. The good thing is, your creditors may agree to waive penalty fees and decrease rates if you’re participating in a DMP. To find out exactly how much a DMP could save you, chat with a trained credit counselor in Hanover, PA – right now!
Credit and Debt Counseling Agencies: Hanover, PA
- Student Loan Debt Solutions Llc, 32 Fawn Hill Rd, 17331