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What Transpires During a Credit Counseling Session in New Braunfels, Texas?

Credit counseling is vital for people who want to be debt free. The experts advise on money management, budgeting, and other finance basics. In addition, credit counselors help you approach creditors about settlement or payment plans. Certified and experienced credit counselors don’t deal with the current problem but address the root cause. So, what happens during a credit counseling session?Credit Counseling Session in New Braunfels Texas

What takes place during a counseling session

Take action if you realize you are lagging behind loan or credit payments. In most cases, the situation worsens if not addressed as soon as possible. Most credit counseling organizations in New Braunfels offer online services over the phone and in person. The first thing that’s done is conduct a half an hour to 40 min interview. During the interview, they ask about your income, budget, expenses, employment status, credit card debt, and other financial burdens. So, you must have all that information before the interview.

In addition, they will ask you about what led to your financial fix. For instance, was it a divorce, job changes, or medical bills? Then after they have all this information, they can help make money management programs. These will help you alter your budget to the current financial situation. So, what do credit counselors do to ensure they help you from a debt situation?

Things credit counselors do give you back the financial freedom

People struggling to pay off debts can benefit from credit counseling compared to debt consolidation in New Braunfels. Here are some things that credit counselors follow to make it possible:

  • Gets a copy of your credit scores and report
  • Help in planning a budget for your finances
  • Gives free educational workshops and materials
  • Offers advice on money and debt management
  • Assist in creating a debt management plan that allows you to clear off your debts

The debt management plan will be very helpful when you choose credit counseling. Through the plan, you make a monthly payment to the credit counseling company, which they share with your creditors. The major benefit is that they can negotiate lower interest rates on your behalf. In addition, they also extend the payment terms and help eliminate any fees you have accrued.

Credit counseling can be helpful for people trying to clear off their debt. It’s because the services offered help solve your current problem and address the root cause. So, if you qualify for this, you are sure you will get out of your situation permanently if you make timely payments to your program.

Debt Consolidation Loans, Debt Settlement and Bankruptcy

A credit counselling debt management program will lower your existing credit card interest rates. It is a hardship program so you will not be able to make further charges on your cards and it may impact your credit score negatively. If good credit is important to you in the short-term and you have plenty of income, consider a debt consolidation loan instead. If you need to save more money compared to credit counselling, or if you want to get out of debt in a shorter amount of time, debt settlement could be a better option. These programs negotiate your principal balances rather than only lowering the interest. As a last resort you can speak to a bankruptcy attorney for chapter 7 or 13. A chapter 13 is a repayment plan, so in some cases it is more expensive than debt settlement, and in other situations it could cost less. Bankruptcy is public record for life in many jurisdictions.

How to Receive Debt Consolidation in New Braunfels, Texas

The fastest way to get help is to call to speak with a Texas Debt Specialist now. You may also fill out the form above and one of our Texas Debt Specialists will reach out to provide you with a free and no-obligation consultation for Debt Relief or Debt Consolidation in New Braunfels, Texas.

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Debt Consolidation New Braunfels, Texas, Credit Counseling New Braunfels, Texas, and Debt Relief New Braunfels, Texas Consultations are Free of Charge with no obligation. Affordable Debt Consolidation is not a lender but offers a platform to receive offers from participating lenders.  Credit counseling clients generally obtain an interest rate between 6% and 11%.  Debt negotiation clients who make their scheduled monthly program payments generally experience approximately a 45% reduction of their enrolled balance before fees over a 24-48 month period, not including any optional and separate services such as legal services provided by a law firm.  Our settlement fees are 15% of the enrolled balance compared to 25% charged by most competitors. Individual results vary based on the ability to fund the program, and the creditors enrolled. Statements made are examples of past performance and are not intended to guarantee that your balances will be reduced by a specific amount or that you will resolve debt within a specific time period. Settlement fees are not charged until a debt is reduced and payment has been made to the creditor. We do not assume consumer debt, make monthly payments, or provide tax or legal advice. We are not a credit repair firm. Please contact a tax professional to discuss any possible tax consequences of paying less than the total balance. Debt Relief programs are exclusively offered to Texas residents. Logos used are property of their respective owners.

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