Debt Relief: Credit Counseling

Consumer Credit Card Counseling

A Consumer Credit Counseling Service can be confusing. Some agencies portray themselves as non-profit. Many people assume that non-profit means a charitable organization working on your behalf, but these agencies were designed to benefit credit card companies. Their non-profit status is for tax purposes; not to be a free consumer advocate to get you out of debt. 

Credit counseling agencies create a monthly payment to cover their fees, which they call donations, and also the minimum payments you owe to each creditor. You then send a monthly check to the agency, which, in turn, makes a payment to each of your creditors. If the agency is late on the payment, you can be penalized or even terminated from the program. 

Credit counseling agencies will close your accounts to prevent you from racking up more debt. You will still being liable for the original amount owed plus new interest charges. The agency does not negotiate a reduction of your balance. And closing accounts, especially long-term accounts, can lower your credit rating. In short using a consumer credit counseling service will show on your credit while forcing you to continue a lifestyle of payments that you already can’t afford!

Credit Card Debt Relief

Common Cents Credit Solutions provides credit card debt help and debt relief. Choose credit card settlement over bankruptcy. Call 877-332-8785 to talk to a debt specialist about your alternatives.