Let us get you in touch with a debt counseling expert who can present you with a free debt analysis and sensible action plan.
Ideally suited candidates have the following:
- Owe at Least $3,0000
- Steady Income
Credit counseling has you pay the full balance owed to your lenders, including interest, which is much better for your credit rating in the long term than debt settlement.
Debt to Income Ratio: Langhorne (PA)
Your ratio of debt to income, aka DTI, helps to assess whether you need credit counseling. Let’s look at a few statistics consistent with earnings of $30,756 a year. For people who live in Langhorne, this is an average income.
- $923 (36%): Best
- $923 to $1,102 (36-43%): Decent
- $1,102 to $1,282 (43-50%): Too High
- $1,282 plus (50%): Severe
Managing Debt: Langhorne (PA)
Debt management is nearly interchangeable with credit counseling. A DMP is a means of consolidating debt, given that your payments to creditors will be consolidated into a single amount. However, there’s no loan necessary.
In essence, your credit counselor will manage your creditors directly.
Defending Yourself Against Credit Counseling Ripoffs in Langhorne (PA)
So long as you find an experienced agency, credit counseling can certainly help. Believe it or not, the Federal Trade Commission now demands it for those who want to file bankruptcy, but there are many of ways to be certain that your Langhorne credit counseling specialist is good:
- Demand referrals
- Examine their accreditation status
- Check that your counselor is licensed
For additional information, read this FTC guide on picking a credit counselor.
If your creditors accept your Langhorne credit counseling program’s debt management plan, you will profit from decreased rates, service fees, and lower payments per month.
Ready to discover how much credit counseling in Langhorne, PA, will save you?
Credit Counseling Rates: Langhorne, PA
How much will a debt management program cost you? Usually $25-$30 a month, together with an initial fee of roughly $90. How much will your payments be? That will depend on how much you owe. Usually 2.5% of how much you owe.
Credit Counseling and Debt Counseling in Langhorne, PA
- Pennsylvania credit counseling company? Email us for a free listing!