Consumer Credit Counseling or Debt Relief

So many people find themselves in debt because credit is so easy to obtain. it is an easy situation to fall into - most people receive credit card invitations in the mail. Consequently, people find themselves buried in debt that they never understood would happen and that they are having trouble paying off. If you have credit cards and your monthly payments are too high, you could benefit from some help. Rather than filing for bankruptcy, a good first step is to start working with either a counseling agency or debt relief company. In this article, we will explore the choices of Consumer Credit Counseling and debt relief companies.

Consumer Credit Counseling is a nonprofit organization. It has offices all around the country. If you make an appointment with your local office, you should take proof of all your debts along with the contact information of your creditors. The counselor will also ask you to hand over your credit cards which they will cut in half which can be a bit of a shock. In my local CCC office, they have made some wall art from the results of the cut up credit cards of their customers! The counselor will then sit down with you and go over the details of each debt. You should be prepared to spend a few hours at your appointment. After this, they will work out and offer you a monthly payment deal in which you will pay CCC a designated amount each month, which they will disperse between your creditors.

Debt relief companies work in a similar way. The difference is that they are profit-making organizations and they are in business to make money by supplying their services. You will find that they do not require you to cut up your credit cards. They also do not usually offer the personalized level of service and counseling that CCC does. You should not think that a debt relief company cannot help you as they often can. If you do not have a Consumer Credit Counseling office in your area, it may be the best option for you to take.

When it comes to Consumer Credit Counseling verses debt relief agencies, CCC is the clear winner simply because they do not need to profit from their services to you whilst offering the level of service they offer. However, debt relief agencies can often offer many benefits. If you need help with your debts then any knowledgable and experienced advice will be helpful and worth listening to. You should obtain some help with your debts before you consider filing for bankruptcy. Bankruptcy can be devastating to your credit rating and very upsetting for your family. Getting debt management advice may make the difference so that bankruptcy can be avoided.

Copyright 2007 Penny Bersaw - All Rights Reserved

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