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Credit Counseling

Consumers across the Buckeye State are searching for debt relief.

Unpaid bills, debt collectors calling, and out-of-control credit card debt has many Ohio residents racing for help. And just where is a big percentage of that help coming from? It's coming from credit counseling services that help provide a path-back to financial security and freedom-from-debt for those burdened by debt, looking for a way out. Debt that, for many, began to accumulate during the era of easy-credit approval, high interest rates and unrelenting credit card offers in the mail. It was the perfect financial storm - one that has people in Ohio and around the nation picking-up the pieces of their financially-strapped lives.

Credit Counseling - Debt Relief

If you're one of those burdened by credit cards and other unsecured forms of debt, with an urgency to reduce high interest rates or get late fees and penalties waived or reduced, then it could be time to see how credit counseling could get you back-on-track financially.

To get a clear snapshot of how debt relief can help your situation, and to receive your free debt analysis and savings quote estimate, answer a few brief questions online to get started.

Types of Credit Counseling Services

As the recent credit and banking crisis in Ohio and nationwide has reduced the frequency of easy-credit offers in the mail and elsewhere, the fallout across a wide swath of consumer-land, has taken its toll. Coming to the relief of desperate consumers in this real world financial disaster, has been credit counseling services, non-profit credit counseling, and Christian credit counseling services...all swelling in popularity as a way to potentially reduce, consolidate and/or pay-off out-of-control debt...bringing debt reduction to a more manageable level.

Regardless of the specific type of credit counseling service chosen, it's important to note that the basic services provided by all credit counseling agencies, are similar. With that said, consumers choosing this type of debt relief should understand the specific debt reduction or debt consolidation benefits and savings provided by any debt management plan. As soon as an understanding as to the amount of money to be saved and the length of time it will take to achieve such savings, the final choice to pick a specific company can begin. It's critical to find a company that treats you with respect, one that enjoys a strong Better Business Bureau (BBB) rating and one exhibiting a record of honesty and integrity toward its debt relief clients.

Consolidating Debt with Credit Counseling

The process credit counseling agencies use to help consumers reduce, pay-off, or consolidate debt efficiently, starts with a free debt relief consultation and analysis. This is accomplished in-person or over the phone, beginning with the counselor's request to the individual for a list of unsecured debts -- including credit cards, gasoline cards, utility bills, and hospital or doctor bills. Unsecured debt is generally any debt not secured by real property such as a home, car or other assets of real value. Following the initial and complete analysis of the consumer's debt obligations including other fixed living expenses, the counselor then analyzes the amount of money and income the individual has and what portion can be applied to pay-off the unsecured debt. When all necessary information has been compiled, proposals to the various credit card companies are made.

Proposal strategies include requests to the various creditors-owed for interest rate reduction, the elimination of penalties and late-fees, a lowering of payment requirements, and even an extension of payment terms. Creditors accepting the proposals and the specific requests within that proposal, become part of that consumer's Debt Management Plan or DMP. This customized plan, based on the consumer need and ability to pay, creates a more manageable monthly payment, paid to the credit counseling agency and then distributed to each and every creditor participating in the plan.

Getting Out of Debt Faster

One of the requirements normally made by a credit counseling agency is the requirement that the consumer stop the use of his or her credit cards. It's this end-to-the-accumulation of any new debt and the monthly discipline of paying-off - regularly, consistently and according to plan- that frees the consumer from his or her debt. The additional benefit of securing a lower interest rate from any one creditor is that more of the money goes toward principal, helping you the consumer get-off the debt-treadmill faster and with hopefully a lot less financial pain and sacrifice. The true cost of credit for those who continue to pay high interest is sky-high, often taking those individuals who fail to follow a solid debt-free plan, years and decades to become debt free. Following a workable debt management consolidation plan can speed-up the process measurably, helping many consumers, even those in difficult situations, to become debt-free in as little as three to five years. It's the reduced cost and speed to achieve the end result that has helped boost the popularity of credit counseling services here in Ohio and around the U.S. With credit card debt continuing to plague the nation, the trend toward this popular debt-relief option, is expected to continue.

Freedom from Debt

As many people will attest, credit card debt counseling or the consolidation of debt is considered an honorable way to get out of debt and pay-off debts faster. The bottom line is that as the debtor, you're telling the credit card companies and any un-secured creditors, that you seek to pay the debt owed, but hope to do so at a reduced interest rate and a pace both affordable and manageable.

If this popular form of debt relief seems like one you could benefit from, answer a few short questions about your debt situation and receive a freedebt analysis and savings quote, today.