Comments on: What do Credit Counseling Services Do?

By: paralegal

paralegal — Wed, 16 Jun 2010 17:46:02 +0000

do they teach you how to manage your debt?
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By: Jason@Merchant Account

Jason@Merchant Account — Sat, 09 Jan 2010 12:23:47 +0000

Some consumer credit counseling is fee based, but that is usually based on some improvement in your situation. If they don’t get you the promised results, they get no fee. If they do succeed, the fee is small enough that it will be worth it. Your improving credit score will save you far more.
Jason@Merchant Account´s last blog ..Indirect Fired Portable Heaters

By: Cantherm@Portable Heaters

Cantherm@Portable Heaters — Sat, 09 Jan 2010 12:17:16 +0000

If you are a good consumer, you may also be a great debtor. College students and young people out of college fall prey to the consumer drives of America and spend their credit on designer labels, cars they can’t afford and a lifestyle that is hard to maintain. As a result of this, they get into debt before they see it coming.

By: Mark Daniel@Get A Six Pack Abs

Mark Daniel@Get A Six Pack Abs — Sat, 02 Jan 2010 16:26:07 +0000

A credit counseling agency typically receives most of its compensation from the creditors to whom the debt payments are distributed. This funding relationship has led many to believe that credit counseling agencies are merely a collections wing of the creditors. This fee income, known as “Fair Share,” are contributions from the creditors that originally earned the agency 15% of the amount recovered. However, in recent years, Fair Share contributions have dwindled steadily, with contributions of 4-10% being the most common.
Mark Daniel@Get A Six Pack Abs´s last blog ..Healthy Living is Not Difficult

By: John Jeracevich

John Jeracevich — Sat, 02 Jan 2010 16:25:47 +0000

The second feature of a DMP is a reduction in interest rates charged by creditors. A customer with a defaulted credit card account will often be paying an interest rate approaching 30%. Upon joining a DMP, credit card banks sometimes lower the annual percentage rates charged to 5-10%, and a few eliminate interest altogether. This reduction in interest allows the counseling agencies to advertise that their customers will be debt free in periods of 3-6 years, rather than the 20+ years that it would take to pay off a large amount of debt at high interest rates.

By: John Biaz@health and safety equipment

John Biaz@health and safety equipment — Mon, 02 Nov 2009 05:55:14 +0000

yes we should read all those documents carefully before investing, since there are many hidden charges and rules prevailing in to it, and most of the people are unaware about it.