AR Debt Relief

Credit Counseling: Oakland (FL)

Is excessive debt hurting your credit ratings? If that’s the case, you really should find a credit counseling agency in Oakland, FL.

We can match you to a debt relief specialist who can provide a free debt assessment and recommended debt relief program.

For people in Oakland, credit counseling is often the lowest priced option. There are 23,440 people residing in Oakland, FL, and as many as 864 may need credit counseling.

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Debt for Oakland Residents: When is it Too Much?

Have you been spending more than half of your income paying off debts? If that’s the case, you probably should look into credit counseling right now. For the average Oakland card-holder who has an income of $2,388 per month, this is $1,194 or more on a monthly basis.

Have you got at least $10K of debt or have a debt-to-income ratio of 50% or higher? If so, you might need to sign up for a debt management plan (DMP). A debt management program is a way of consolidating debt, in that the money you owe every month will be consolidated into one monthly amount, but there is no loan needed. With a debt management plan in Oakland, the credit counseling firm will address payment to your creditors every month. Pretty much all you’ll need to do is provide them with a single monthly payment.

Settling on a Credit Counseling Service in Oakland, FL

Credit Counseling Oakland FL

If you get a reputable organization, credit counseling can really help. Truth be told, the Federal Trade Commission now requires it for people filing bankruptcy in Florida and nationwide, but legitimate credit counselors in Oakland, FL, and across the nation typically provide:

  • Qualified Consultants
  • Authentic Testimonials
  • Direct Replies to All Questions
  • Cost-Free Counseling Sessions (DMPs do have costs)
  • Written Plans of Action

For additional information, look at this FTC post on selecting a credit counselor.

How Much Will Credit Counseling Save You?

Though credit counseling doesn’t lead to any debt forgiveness, it will save you big money with more affordable interest and fewer fees and penalties. Let a trained credit professional check out your finances and give you an estimate of how much you could save.

Credit Counseling Oakland FL

Enrollment in a DMP should not exceed $75, and the fees each month should be less than $40.

If you can pay off $2.50 of each $100 you owe each and every month, you could repay your debts in roughly 3.5 years, if your credit consultant is able to lock up your interest. With interest, it’s going to take a lot more time.

Let’s look at a table depicting how much this amounts to, based on different degrees of debt.

  • $20,000 Debt: $420 to $500
  • $25,000 Debt: $525 to $625
  • $30,000 Debt: $630 to $750
  • $35,000 Debt: $735 to $875
  • $40,000 Debt: $840 to $1000
  • $50,000 Debt: $1050 to $1250
  • $60,000 Debt: $1260 to $1500
  • $70,000 Debt: $1470 to $1750
  • $90,000 Debt: $1890 to $2250

Consumer Credit Counseling Services in Oakland, FL

Founded more than six decades ago, the National Credit Counseling Foundation (NCFF) is the premier network of non-profit credit counseling agencies in Florida. Members are usually known as CCCS, or Consumer Credit Counseling Service. A Consumer Credit Counseling Service in Oakland, FL, will normally be a community non profit which carries the NFCC seal. Often a CCCS agency will provide not only nonprofit credit counseling, but also Oakland bankruptcy counseling, money management seminars, and housing assistance. Generally, nonprofit credit counseling in Oakland, FL, does not always mean free of charge. Be prepared to shell out about at the most $50 monthly.

To find the CCCS agency that’s closest to Oakland, FL, please research the directory of firms we’ve provided. If you can’t find any, you can go to the National Foundation for Credit Counseling website.

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Debt and Credit Counseling Agencies in Oakland, FL

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