Are you tired of being in debt? Do you dream about a life without financial stresses? Do you want to take your future back?
Getting out of debt starts by getting a firm foundation in credit management. Enlisting the help of a credit counselor will help you achieve financial stability. Your counselor will discuss your personal budget and help you develop a financial plan for the future. A counselor will also provide frugality tips and options for saving money through a debt consolidation program.
What to Do After Seeing a Credit Counselor
Once you’ve developed a firm grasp of your budget, the next step is known as debt consolidation. Credit counselors can often connect you with consolidation providers; in many cases, the same non-profit organizations employ both counseling professionals and consolidation professionals.
Consolidation is a win-win practice that relies on the financial clout that a large non-profit organization can have with your creditors. The consolidation provider will contact your creditors and try to get you a better deal on your loan agreements. This means that you can get lower interest rates, waived fees and reduced monthly payments.
The savings achieved through this negotiation will be passed directly on to you, allowing you to pay the same or even less than what you’re currently paying each month to service your loans. This is how companies like CreditGuard of America help you get out of debt. However, the real savings come with the lower interest rates and improved credit score.
With debt consolidation programs, you can save thousands of dollars and pay off your loan up to six times faster than if you had just made minimum monthly payments. Your credit score will be improved because of the regular monthly payments the debt consolidation provider makes on your unsecured loans. Because of the reduced interest rates, your debt-to-credit ratio will improve, which will send your credit score up even more. A good credit score means that you will be eligible for better rates on home and car loans as well as student loans or other personal loans.
So look into credit counseling and debt consolidation today. The help you receive will go a long way towards achieving debt relief and instilling new habits for a strong, financial future.