Debt Relief

Credit Counseling: Chattanooga (TN)

Credit Counseling Chattanooga TNCan’t afford to pay the minimums on your credit lines each month? In this case, you may want to enlist the services of a credit counselor in Chattanooga, TN.

We connect you with credit counselors and debt management firms to get you the debt relief you’re looking for.

If you get in touch with a credit counseling company in Chattanooga, TN, you might possibly:

  • Consolidate Your Monthly Payment
  • Obtain Lower Rates
  • Avoid Calls From Collectors
  • Implement Better Debt Relief Strategies

We estimate that 6,994 of Chattanooga’s 189,649 residents may need credit counseling.

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Assessing Your Debt

Credit Counseling Chattanooga TN

On average, people in Chattanooga earn $1,742 on a monthly basis. With any luck, a consumer who pulls down this much ought to carry debts of no greater than $627 per month, which is slightly more than one third of their before-tax income.

If you make $1,742 on a monthly basis and find that you’re shelling out over $749 (43%), you’re in jeopardy. Sadly, many Chattanooga residents have DTI’s of more than 50% ($871).

An important part of credit counseling is managing debt. As part of a debt management plan, your Chattanooga TN credit counselor may able to obtain less expensive annual percentage rates and better terms from your credit card companies.

Your credit counseling service will take care of payment to your creditors each and every month. The only thing you need to do is hand them just one payment per month.

Settling on a Credit Counseling Agency in Chattanooga (TN)

As an industry, credit counseling has been checked out by the Federal Trade Commission and other federal regulators, but avoid any credit counseling services that declare that they will:

  • Stop all calls from debt collectors
  • Get you out of debt through a new government program
  • Ensure the elimination of unsecured debts
  • Keep creditors from taking legal action against you
  • Bill you ahead of time for their assistance

To learn more, check out this FTC write-up on how to find a credit counselor. Please don’t work with a credit counselor you can’t trust. We want to assist you in finding an experienced Chattanooga credit counseling company.

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How Much Will Debt Management Save You?

All of your original debt needs to be paid in full. Fortunately, your monthly payments should be lower as a result of savings in interest and penalty charges. Want to learn how much credit counseling in Chattanooga, TN, can save you?

Paying For Credit Counseling: Chattanooga, TN

Credit Counseling Chattanooga TN

Signing up for a DMP should not cost more than $100, and the monthly fees should be about $40. If you can repay $2.50 of every $100 you owe each month, you could repay your debts in around 3.5 years, but only if your credit counselor can freeze your interest. With interest, it’s going to take a good bit more time.

The following is a table that shows how much you might have to pay, based on different degrees of consumer debt.

Debt 2.1% 2.5%
$15,000 $315 $375
$40,000 $840 $1000
$45,000 $945 $1125
$60,000 $1260 $1500
$65,000 $1365 $1625
$75,000 $1575 $1875
$80,000 $1680 $2000
$90,000 $1890 $2250
$95,000 $1995 $2375

Non-Profit Credit Counseling Services: Chattanooga (TN)

Non-Profit Credit Counseling Chattanooga TN

The nation’s biggest nonprofit credit counseling organization is the NFCC, and their network is referred to as Consumer Credit Counseling Service, or CCCS. In Chattanooga, Tennessee, a Consumer Credit Counseling Service will normally be a community non profit that’s a part of the NFCC. Quite often a CCCS agency will provide not just consumer credit counseling, but also Chattanooga bankruptcy counseling for Chattanooga consumers, as well as housing and financial guidance.

To discover the nearest CCCS location in Chattanooga, TN, take a look at the listing of agencies we’ve published or use the NCFF website:

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Credit Counseling / Debt Management Agencies: Chattanooga, TN

  • A Christian Lanier Iii, 615 Lindsay St, #150, 37403
  • Bankcard Solutions Inc, 201 Frazier Ave, 37405
  • Cardservice International, 5932 Pine Grove Trl, #102, 37421
  • Charles O Ragan Law Offices, 707 Georgia Ave, #300, 37402
  • Consumer Credit Counseling Service, 5700 Brainerd Rd, #Rd-6000, 37411
  • Farm Credit Services of Mid-America, 7610 Hamilton Park Dr, 37421
  • Havertys Credit Service Inc, 1501 Riverside Dr, 37406
  • Lanier Christian Attorney at Law, 615 Lindsay St, 37403
  • Massey & Speek, 1024 E Ml King Blvd, 37403
  • The Law Offices of Lloyd Stanley, 633 Chestnut St, 37450
  • Rannick, Kenneth C – Kenneth C Rannick PC, 4416 Brainerd Rd, 37411