The majority of consumers in need of Shippensburg credit counseling have stable income, credit card debts in excess of $5K, and the desire to pay back their debts.
Although credit counseling involves trying to repay all of your debt, it will look a lot better on your credit report than debt settlement.
Debt to Income Ratio in Shippensburg (PA)
Your ratio of debt to income helps to assess whether or not you need credit counseling. Why don’t we have a look at some numbers based on an income of $3,101 every month, the average in Shippensburg:
- $1,116 (36%): Perfect
- $1,116 to $1,333 (36-43%): Acceptable
- $1,333 to $1,551 (43-50%): Cause for Concern
- $1,551 plus (50%): Severe
Shippensburg (PA) Debt Management Plans
If you are in substantial debt, your credit counselor might recommend that you sign up for a debt management program. If you enroll in a debt management plan, you might enjoy:
- Discounted APR Rates
- Fewer Debt Collector Calls
- One Monthly Payment
- Swifter Freedom From Debt
Your credit counselor will work with your creditors personally.
Steering Clear of Credit Counseling Shams in Shippensburg, PA
All in all, credit counseling has been recognized by the FTC and other governmental bodies, but respected credit counseling services will generally present you with:
- 45-60 Minutes of Introductory Guidance
- No Advance Costs
- A Personalized Action Plan
- Evidence of Certification
Bear in mind that being a nonprofit doesn’t necessarily mean that a credit counseling service is respectable, and vice versa.
Keep in mind, at Debt Relief of Pennsylvania, we can help you find the right counseling or debt management program according to your distinct needs.
Needless to say, consumer credit card debt is incredibly tough since the exorbitant interest levels allow your debt to keep mounting. Any experienced credit counseling professional in Shippensburg should be able to have most of your credit card companies bring down your interest rates and late charges, helping you save big money all things considered. A simple analysis of your financial situation is required to provide a definitive savings quote.
Although credit counseling is often free of charge, debt management programs include fees each month. Debt management plans in Shippensburg are very affordable. They typically cost less than $40 per month, and the price is factored into the amount you pay each month.
When it comes to your payments, you’ll usually need to submit a payment of 2.1-2.5% per month, which will then be disbursed among your assorted creditors.
Credit Counseling and Debt Management Agencies in Shippensburg, PA
- Pennsylvania credit counseling company? Email us for a free listing!