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How Free Debt Counseling Services Can Help You Get Ahead

Jan 29, 2008
Getting into debt is easy for almost anyone to do, but getting back out is much more difficult. In some cases, the only way a person can get ahead of their debt is with the help of a specialist in credit counseling. Many of these services are free and can help you create a plan to pay off your debt without adding further fees to it.

There are several different levels of debt counseling services. The first will give you advice and guidance, but nothing further. They help you to take inventory of your debt and your current financial situation.

This information is then put together in a plan that will help you manage the debt more effectively. The details of this plan will vary from one person to another. The counseling service doesn't actually take any actions however. It's up to you to actually apply the plan they give you.

Other debt counseling services go beyond simply creating a plan for you. They will actually talk to the various creditor you owe money and work to get a better deal for you, whether a lower interest rate or a discount on the amount you owe.

They will set up a payment program for you and then you're responsible for paying them the amount that must be paid out on your behalf every month. That money is then paid to all your creditors.

This type of counseling is helpful if you find it hard to stick with a debt repayment plan, or if you just don't have the willpower necessary to pay off debt without buying more at the same time.

Some credit counseling services will also help you with monthly budgeting. This can be a great help for people who are unable to stop spending or do not track what they spend very effectively.

When choosing a credit counseling service, due your due diligence. There are some shady operations that may charge you unnecessary fees or may not distribute the money you pay them to the correct people, so be sure you get some references and are sure the service you're dealing with is genuine.
About the Author
Get more info about credit card debt consolidation and other helpful methods to reduce credit card debt on the Debtopedia website. Get your free copy of my report "Secrets Of Credit Card Debt" at http://www.debtopedia.com
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