Do you think you need credit consolidation help? If you are one of the 61% of Americans who plan to pay off their debt this year, you need to consider all your options. It is not easy to get out of debt – especially if you have a lot to pay off. Credit cards are the worst. It has very high-interest rates. If you do not pay it off quickly, the interest will cause your debts to increase. In the end, it can cost you a lot of money.
Obviously, you would want to pay off your debts as soon as possible. It is not just money. It is also the stress that comes along with having debts to think about. But then again, how will you do it? Where will you start?
Admittedly, debt can be intimidating especially when you have left it out of control. What you do with your finances right now will determine the security of your financial future. But the truth is, it does not have to be hard as you think it should. There are ways to make the process easier for you.
One of the ways you can do this is to get the right debt solution. The other is to get credit consolidation help.
2 professionals that provide credit consolidation help
There are people who are not open to getting professional help. They think it is a waste of money. They also feel embarrassed at the thought that they messed up so badly that they needed an expert to step in.
Well, you need to change your perception of credit consolidation help. First of all, there is no shame in asking for help. In fact, it is very brave of you to acknowledge that you made a mistake. That is the first step to really solving your problems. And when you find a legitimate debt consolidation company to help you, the path will be clearer. You will find it easier to take the next steps to get out of debt.
So who are the debt experts who can provide you with credit consolidation help?
A lot of credit counselors work for a non-profit organization. So if you are worried about the monthly fees, you do not have to worry about it wreaking havoc to your bank. Unless you opt for debt management, you do not have to pay monthly fees. But even the dent management fees are minimal.
So what can a credit counselor do for you? If it is credit consolidation help that you need, that is exactly what they can help you with. First, they will ask you about your financial situation. You have to be honest with them so you can both determine what the problem is about your finances. What led to your debt? This is an important question to answer if you want to solve your debt problems. You will discuss your options to get out of debt. Usually, this service is free. But if you want more out of the service, you might have to pay a little.
It is not mandatory but you have the option to enroll in their debt management program. This is where they will help you create a debt management plan (DMP). This plan will contain all your credit accounts and the amount that you will pay each. The idea is to create a monthly payment that you can afford – even if it is way below the minimum payment requirement. The credit counselor will talk to your creditors and lenders to ask them to accept the DMP. After their approval, you will send a single monthly payment to the credit counselor. This amount will be the sum of the monthly payments of your credit accounts. The credit counselor will take care of distributing the payment to your creditors and lenders.
Another source of professional credit consolidation help is through a debt negotiator. Their job is similar to that of a credit counselor. But they will do more than just organize your debts and payments. They will work on helping you have your debt balance reduced.
Do you think that is not possible? Well, now you know that it is. There are debt negotiators who can help you settle your debts. They will take a look at your multiple credit accounts and discuss with you how much you can afford to pay. They will try to negotiate the highest reduction that they can to help you save money. While the amount of reduction will not be guaranteed, they will try to reach the highest rate that they can. And the higher it is, the more savings you will get.
And if you find the right company, you will even get financial lessons through the debt relief program you are using. That will really help you stay out of another debt situation in the future.
Signs you need professional credit consolidation help
The truth is, not everyone needs credit consolidation help. But they seek it out because it can make things easier. If you find the right debt expert to work with, they will give you the direction that you need to achieve complete debt freedom.
You will be surprised at how much negative effect debt has on people’s lives. One study revealed that 7 in 10 American adults have cried over their finances. Debt can cause that much stress – enough to make you cry. When you are feeling this bad about debt, it can be hard to keep a clear mind. It will be difficult to make the right decisions. This is when having a professional working with you can really help.
Here are some of the signs that you need a debt expert to help you.
If you are too busy to focus
We all have a lot of things to take care of in life. This can sometimes get in the way of our efforts to put our credit situation in order. It could be our work that is keeping us from focusing on our debt relief efforts. If this is true, then just get professional help. That way, you can rest assured that someone will focus on your debt payments. You can do what you do best at work and not worry about whether you have forgotten a payment or two.
If you are confused about what to do
Another reason to get credit consolidation help is when you feel confused. There are a lot of debt relief options and they are all effective. However, there is usually one debt solution that is perfect based on your specific situation. It can be confusing to figure out what that is. If you have a professional look it over, they may be able to figure it out in no time at all. So just let an expert help expedite the process. That way, you can get out of debt faster.