Consumer Credit Help: HOw To Find Help When You Need It

2007-03-08 10:33:40

( Financial )



Dealing with credit problems doesn't have to be a solitary undertaking. If you feel overwhelmed, why not ask for help? Consumer credit help comes in many forms, from free services too costly ones and from lawful to outright illegitimate. The key to finding the help you need is a discerning eye and sound judgment. If you look well enough you’ll find a suitable partner who will help you get your finances back on track.

First, Assess Your Situation

The kind of consumer credit help that you need depends on the extent of your predicament. It helps a lot if you have a clear idea of where you stand financially. Make an honest assessment of your situation and commit yourself to improve it. Knowing what your financial needs and goals are will help you decide what kind of consumer credit help will best suit you.

Consumer Debt Counseling

The right consumer debt counseling service can be an excellent partner in solving your financial woes. Most of them claim to be nonprofit, which does not necessarily mean their services are free. However, most reputable counseling agencies charge very low fees since they get most of their funding from your creditors’ voluntary contributions. A good counseling agency must have an extensive array of services on offer. Aside from budget forming advice, expect them to offer customized debt repayment plans, education on financial management, refinancing advice, and debt consolidation counseling, among others. The quality of counseling varies from agency to agency. Opt for one that provides access to counseling not just in person but through the mail, by phone and online as well.

Debt Negotiation Services

Debt negotiation is another option you can take. However, you need to be careful in choosing the firm you want to work with, since some of the services they offer may be illegal. Most debt negotiation agencies promise to renegotiate your unsecured debt so you’ll only be paying 10 to 50 percent of the balance owed. They often depict their services as an alternative to bankruptcy causing little adverse effect to your credit report. While they can be helpful, working with them entails certain risks. Weigh the pros and cons first before availing any of their services.

Go Online

The internet has always been a great source of information about any imaginable topic . If what you’re after is simple financial advice and basic financial know-how, then take advantage of the wealth of information the internet provides. Just be wary of self-serving advice dished out by financial services companies. Stick to the independent, third party sources for information

Choose Help Wisely

Despite the wealth of options available to anyone in financial trouble, scams and illegal services are admittedly more prevalent than ever before. Protect yourself from exploitation by being a discerning consumer. Avoid promises that sound too good to be true. Never agree to sign anything which you don’t completely understand. Finally, contact relevant government agencies if you have complaints or concerns about a particular firm or service.


All rights Reserved © Tradenet Services srl
Do not duplicate or redistribute in any form.