Credit Counseling Plan
Consumer Credit Counseling programs establish a “debt reorganization plan” with creditors to pay off your debts. They ask your creditors to lower or freeze your interest rates and to take a substantially lower payment. This is a request that creditors can and sometimes do decline. They do not negotiate your balances down; instead they prolong repayment of your debts while interest may continue to accrue. You will then make a monthly payment to the Counseling Program and they disburse payments to your various creditors. Consumer Credit Counseling can be the right option for those who haven’t yet damaged their credit by falling behind on their debts. If you would like more information regarding Consumer Credit Counseling, please click the following link which will direct you to a contact form. Once you’ve filled out the form, a representative will contact you to discuss this option further.
