Credit Counseling: New Hope (PA)

PA Debt Relief

Have you been looking for better ways to manage your debts? In this case, we can help. It’s easy to figure out how much credit counseling could cut back your monthly expenses.

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Today, most credit counseling companies in New Hope are non-profits who are paid at least in part through contributions from the credit card issuers. This means that virtually all credit counseling solutions are quite affordable.

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How much comes in, how much goes out. This is the bottom line of the matter when it comes to debt. The calculations are simple. Let’s consider a few numbers based around a salary of $6,082 monthly. For New Hope residents, this income is average.

  • $2,190 (36%): Best
  • $2,250 to $2,554 (37-42%): Decent
  • $2,615 to $3,041 (43-50%): Cause for Concern
  • $3,041 or more (50%): Acute

Credit Counseling Plans: New Hope (PA)

Debt Counseling New Hope PA

Do you owe more than $10K of debt or have a debt-to-income ratio of 50% or higher? You might need to enroll in a debt management plan (DMP). A debt management plan is a type of debt consolidation, as your monthly payments is merged into a single payment. However, no loans are needed. This is different from a few other methods of debt consolidation in New Hope, PA, which use home equity loans to pay off the credit card companies. You’ll submit a single check to your New Hope credit counseling service. They then disburse the funds among each of your creditors.

Negotiation vs Credit Counseling in New Hope, PA

Remember that credit counseling programs can help you pay off your debts faster and at a discounted annual percentage rate. However, you will still be paying down your full debts. Credit card debt negotiation may allow you to pay back only 40-80% of what you owe; however, it can destroy your credit.

Settling on a Credit Counseling Service: New Hope, PA

Assuming that you hook up with a good firm, credit counseling can really help. Indeed, the Federal Trade Commission now requires it for people who want to file bankruptcy, but keep clear of any credit counselors in New Hope that claim that they are able to:

  • End all collections calls
  • Reconcile secured debt
  • Erase your debts by means of a new federal government program
  • Charge you up-front for their services

Please remember that being a non profit doesn’t guarantee that a credit counseling program is respectable, and for-profit doesn’t mean they are disreputable.

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How Much Will Credit Card Counseling Help Save?

Credit counseling isn’t going to get rid of the original debt. Fortunately, you probably won’t need to pay as much every month as you have been paying, thanks to discounted fees and interest. A quick analysis of your financial situation is necessary to provide an accurate savings quote.

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Credit Counseling Costs in New Hope, PA

The FTC prohibits credit counseling firms from charging you in advance. Although not without cost, managing debt is a highly affordable solution for a lot of New Hope residents. There is typically an enrollment fee of no more than $75, along with a bill every month of less than $40.

Most plans will require you to pay back 2.5 percent of your total debt a month. You might be interested in a breakdown of how much your monthly payments would be, based on varying levels of unsecured debt.

  • $55,000 Debt: $1155 to $1375
  • $70,000 Debt: $1470 to $1750
  • $95,000 Debt: $1995 to $2375

Non-Profit Credit Counseling Service in New Hope (PA)

Consumer Credit Counseling New Hope PA

The NFCC, or National Foundation for Credit Counseling, is the largest network of non-profit credit counseling firms in Pennsylvania, and their agencies are typically generally known as CCCS, or the Consumer Credit Counseling Service. In New Hope, Pennsylvania, a Consumer Credit Counseling Service will usually be a non profit firm that’s a member of the National Foundation for Credit Counseling. Often a CCCS agency will provide New Hope bankruptcy credit counseling, financial seminars, and housing help. Expect to pay out around a maximum of $40 per month. To discover the CCCS office closest to New Hope, PA, research the list of New Hope credit counseling firms we provide. Alternatively, you can perform a seach on the NCFF’s website by clicking here

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Credit Counseling and Debt Counseling in New Hope, PA

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