Here we are almost the middle of February already and our debt problems are getting worse with each new day. There are layoffs, businesses closing and credit card companies putting the squeeze on us little guys. If your credit card company is not trying to increase your interest rate, they are trying to restrict your credit limit so you cannot charge anymore.
Care One Credit Counseling does just that – credit counseling. They will give you a free consultation and determine if debt consolidation is your best way out of debt. Not everyone will qualify for one of their plans. The good thing about CareOneCredit is that they will work with you if you have just $2500 in credit card debt. Most companies will not work with you unless you have $7500 or $10,000 or more in credit card debt. What CareOneCredit can do is spread out your debts over a longer period of time and reduce your interest rates and get some fees waived. You can pay less when you use credit counseling and debt consolidation than paying it all off on your own. The fee for CareOneCredit Counseling varies by state so there is no number I can give you of what to expect to pay. You can talk to them for free and find out how they can help you before you sign up with them.
Now let’s talk about something different – debt settlement.
(EDIT: 5-9-09) Credit Solutions has had some legal issues as of late so I can no longer recommend them. One recommended company that offers debt settlement is Debt Shield. You can get a free consultation and see how much money you can save. Debt settlement is a different program altogether than debt consolidation. The goal of debt settlement is to negotiate with your creditors and work on reducing your total outstanding debts before you start paying anything. In some cases, you can reduce what you owe by 40-60%. Your mileage may vary. It is a much better option than bankruptcy.
Both are free to talk to and I would advise you talk to them and see what kind of savings you can expect from their plans.
Thank you for reading,
Debt Cures Reviews