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Florida Credit Counseling (FL)

Florida Credit CounselingWhat if it were possible to get out of debt in 36 to 60 months? Credit counseling aims to help you do just that.  How?  By developing a custom-tailored plan to decrease your interest rates, pay off your creditors, and put you on the path to financial freedom.  First off, let’s learn how much credit counseling in Florida can save you.

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The best individuals for credit counseling have the following:

  • Debts of at Least $10,000
  • Ability to Allocate $250-$300 Toward Monthly Payments
  • Genuine Goal to Clear Their Debts

Even though credit counseling implies trying to repay your creditors in full, it will look far better on your credit report than a debt settlement program.

There are 18,801,310 people residing in Florida, and it’s believed that 693,407 may need credit counseling.

Managing Debt in Florida

On average, Florida residents make $39,746 a year. Ideally, a consumer who gets paid $3,312 monthly should have debts of only $1,192 each and every month. This is 36% of their pre-tax income.

If you get paid $3,312 a month and are spending more than $1,424 (43%), you’re at an increased risk. You won’t be the only one, as a good deal of Florida’s residents spend more than half of their income ($1,656) on these expenses.

An integral aspect of credit counseling is managing debt. A DMP is a method of consolidating debt, given that your monthly payments will be merged into just one payment. However, no loans are involved.

Each month, all you have to is deliver a single sum to your Florida credit counselor. They will allot the money among each of your creditors.

Credit counseling and debt management is not supposed to reduce your credit ratings in the long term, unlike Florida debt negotiations, but lenders may be hesitant to say yes to new home and auto loans if you’re participating in a credit counseling management program. To be honest, they may decide that you have too much debt to deal with a whole new loan.

How to Avoid Credit Counseling Scams in FL

As long as you are dealing with a reputable firm, credit counseling can help. Actually, the FTC now mandates it for individuals who want to file bankruptcy in Florida and countrywide, but trustworthy credit counseling services typically offer:

  • Licensed Counselors
  • Real References
  • Non-Profit Standing
  • Direct Answers
  • Free Recommendations (DMPs do have costs)
  • Documented Action Plan

Please remember, being a non-profit won’t always mean that a credit counseling business is reputable, and being for-profit does not always mean they’re dishonest.

Keep in mind, at Florida Debt Consolidation, we can help you find the most suitable credit counseling or debt management option based on your specific situation.

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How Much Will Credit Counseling Save You?

As you know, credit card debt is extremely hard because the exorbitant interest levels allow your debt to keep escalating. Any reputable credit counseling organization in Florida can get your creditors to lower your interest levels and late fees, saving you serious money over time.

To find out how much you could save, you need to talk to a knowledgeable credit counselor in Florida – today!

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How Much Does Credit Counseling Cost in Florida?

In many cases, the advisement component is free. Enrollment in a DMP should not cost more than $75, and the monthly fees ought to be only $40. The majority of plans will have you pay back 2.5 percent of your total debt per month.

Bankruptcy Credit Counseling in Florida

The market meltdown hurt everybody, and bankruptcies are way up in Florida and across the country. Of the 18,801,310 people who live in Florida, it’s estimated that 94,007 have found it necessary declare bankruptcy.

Within half a year of declaring bankruptcy, you must go through an approved credit counseling program and receive a certificate to be presented in bankruptcy court. You don’t really need to work with a local credit counselor for this. Programs are offered online and on the telephone, as well as face-to-face. Some programs are able to provide this service, plenty are not. To find approved Florida credit counseling programs, follow this link. Alternatively, you can get hold of a skilled debt advisor:

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Credit Counseling and Debt Management in Your Part of Florida