Credit counseling is becoming more popular than ever for Pottstown residents suffering with financial problems, credit difficulties, or substantial debt.
We can place you in touch with a debt relief professional who can provide you with a free debt assessment and sensible solution.
Credit counseling was initially developed for creditors to retrieve funds from consumers who were falling behind on their bills without going to collectors. This means a good number of credit card counseling services are quite affordable.
When You Should Seek Credit Counseling Assistance?: Pottstown (PA)
Your ratio of debt to income, also known as DTI, helps to confirm whether or not your state of affairs warrants credit counseling. Let’s examine several estimates based around a salary of $50,411 per annum. That’s the average in Pottstown.
- $1,512 (36%): Great
- $1,554 to $1,764 (37-42%): Okay
- $1,806 to $2,101 (43-50%): Risky
- $2,101 or higher (50%): Extreme
Managing Debt in Pottstown (PA)
Debt management plans are often associated with with credit counseling. With a DMP, your Pottstown PA credit counselor may able to work out decreased APR’s and fees and penalties from the companies you borrowed from. Each and every month, you will send a fixed sum to your Pottstown credit counseling company, and they’ll disburse the payments among your creditors.
Generally consumer credit counseling companies attempt to have your debts repaid in less than 48 months, oftentimes less. While this isn’t supposed to make your credit scores decrease, it may be hard to get new a credit line. Then again, if you were to go with a debt settlement program, your credit rating would probably be badly harmed.
Finding a Credit Counseling Agency in Pottstown, PA
On the whole, credit counseling has been vetted by the Federal Trade Commission (FTC) and other state and federal regulators. But legitimate credit counseling firms typically give you:
- Qualified Advisors
- True Testimonials
- Non-Profit Status
- Direct Answers
- Free Advice
Please remember that being a not-for-profit isn’t going to guarantee that a credit counseling company is bonafide.
The exact amount that credit counseling will save you is dependent upon your particular financial circumstances. The good thing is, it does result in cheaper monthly payments by means of lowered, even suspended, interest and penalty fees.
To see exactly how much a DMP could save you, you need to contact a qualified Pottstown credit counselor – right now!
Fees Charged By Credit Counseling Firms: Pottstown, PA
How much will a debt management plan cost you? In most cases $25-$30 monthly, as well as a setup fee of approximately $90. In a DMP, the money you spend each month repaying your credit card debt is typically similar to your minimum credit card payment: 2.5%. Here is a table showing how much this amounts to, given different amounts of unpaid debt.
Credit Counseling and Bankruptcy in Pottstown, PA
Thinking of bankruptcy? You are not alone. Of the 56,268 residents of Pottstown, about 147 have been forced go into bankruptcy. As required by law, you must enroll in a pre-bankruptcy Pottstown credit counseling course prior to declaring yourself bankrupt. This session should be within 180 days of when you file.
You can attend the process in person, by telephone, or on the internet, provided that you receive the right certification
Keep in mind that taking part in consumer credit counseling after bankruptcy will be required.
For an approved list of approved Pennsylvania credit counseling programs, simply click here, and you can talk to a seasoned debt professional:
Non-Profit Credit Counseling Services: Pottstown, PA
Consumer Credit Counseling Service, often referred to as CCCS, may provide nonprofit credit counseling for Pottstown individuals. In Pottstown, Pennsylvania, a Consumer Credit Counseling Service will generally be a not for profit which uses an NFCC seal. In most cases a CCCS organization will offer not only consumer credit counseling, but also Pottstown bankruptcy counseling, financial training, and housing counseling. Plan to shell out approximately at the most $40 on a monthly basis. To find the closest CCCS agency in Pottstown, PA, please have a look at the directory of agencies on our site. On the other hand, you can visit DebtAdvice.org.
Credit Counseling / Debt Management in Pottstown (PA)
- American Credit Counseling Inc, 912 E High St, 19464
- Bencharge Credit Service Of Pennsylvania – Pottstown, North End Shopping Centre, 19464