Debt Consolidation Companies - Making Goals and Bad Credit
Many consumers have the idea that credit counseling companies
won't accept bad credit consumers into their debt management
program. Although some credit counseling companies require that
you have at least some form of positive credit, understand that
not everybody is going to have perfect credit. It's imperative
that you find a legitimate organization that has one thing and
one thing only on their minds, and that is to get rid of your
debts. One of the advantages with debt consolidation and credit
counseling is that your credit score damage is usually kept to a
minimum. On the contrary, if you're thinking about debt
settlement, your credit score will harshly be affected.
A reputable counseling or consolidation company will first
analyze your current financial situation and determine what is
and is not feasible with your income. Stay away from
organizations that ask for your personal and financial
information before explaining their benefits and business model.
Credit companies used to reward counseling companies with a
small commission for consolidating one's debt and getting the
bill paid. In today's world, that commission has almost dropped
to half. In turn forcing even non profit consolidation companies
to charge an admin fee on either a per month or account basis.
Do some research on the company you decide on. Make some
financial goals and stick to them throughout your debt
management program.
You can find our non profit debt consolidation resource sites at
Debt Consolidation and
Non Profit Debt
Consolidation