Are you swamped in debt? In this case, you may need to find a credit counseling agency in Lake Wales, FL. Credit counseling, also known as debt management, is a cost-effective way to consolidate your debt payments without hurting your credit rating like methods like debt settlement.
Initially, credit counseling was implemented to help card issuers receive funds from consumers who were delinquent on their payments before resorting to collectors. What this means is a lot of credit card counseling programs are easy on the pocketbook.
When to Seek Credit Counseling Guidance?: Lake Wales, FL
Anyone reviewing a credit application wants to know how much you earn, how much you owe? This is the core of everything. There are standards that will inform you of what sort of financial situation you’re in. Have a look at a few statistics consistent with a salary of $4,305 a year, the Lake Wales average:
- $129 (36%): Best
- $129 to $154 (36-43%): Decent
- $154 to $180 (43-50%): Risky
- $180 or more (50%): Acute
Credit Counseling Programs in Lake Wales (FL)
A fundamental component of credit counseling is managing debt. As part of a DMP, your Lake Wales FL credit counseling agency may able to get less expensive annual percentage rates and better terms from the companies you borrowed from. You will no longer need to talk with your creditors; the credit counselor will handle things from this angle.
Credit counseling shouldn’t do damage to your credit rating over the long haul, unlike debt negotiations in Lake Wales, FL; on the other hand, creditors may not be able to approve you for a new auto or home loan when you’re the client of a credit counseling firm in Lake Wales, FL to get free of debt.
Choosing a Credit Counseling Agency: Lake Wales (FL)
All in all, credit counseling has been vetted by the Federal Trade Commission and other government bodies. But watch out for any credit counseling sites in Lake Wales that claim they will:
- Stop all calls from collectors
- Take away damaging items from your credit rating
- Promise the removing of credit card debt
- Impose a fee upfront for their services
For details, check out this FTC article on finding a credit counselor. Keep in mind, at Florida Debt Consolidation, we can assist you in finding the very best counseling or debt management program based on your distinct situation.
Credit counseling should help you save money in a big way, but how much is determined by a range of factors.
One of the debt experts we work with can take a look at your finances and inform you of how much you could save.
Credit Counseling and Debt Counseling in Lake Wales, FL
- Florida Credit Counseling Company? Contact us!