Are you feeling it’s seemingly impossible to pay down your debts? In that case, you’ve come to the right place. At Tennessee Debt Consolidation, we help our clients find the best remedies for poor credit, substantial debt, and elevated interest rates.
Credit counseling has a number of pluses:
- Decreased Interest Rates
- Faster Freedom From Debt
- Automatic Payment of Cards
If your ratio of debt to income is above 50%, you probably should look into credit counseling as quickly as possible. For the average Cordova consumer who’s got a salary of $21,324 annually, this is more than $889 on a monthly basis.
Have you got more than $10,000 in unsecured debt or have monthly payments for rent, loans, or credit cards that take up 50 percent your earnings? Then you might need to register for a debt management plan (DMP). A DMP is a means of consolidating debt, because your payments to creditors will be merged into just one payment. However, there is no loan necessary. This is different from some other types of debt consolidation in Cordova, TN that use home equity loans to pay back the credit card companies. Essentially, your credit counseling specialist will deal with your creditors personally.
Settlement vs Credit Counseling in Cordova, TN
Remember, debt settlement won’t be part of credit counseling. Sure, a debt settlement would lower the amount you owe, it can adversely affect your credit score.
Settling on a Credit Counseling Firm: Cordova (TN)
As an industry, credit counseling has been vetted by the Federal Trade Commission and other federal authorities, but there are many of ways to make certain that your Cordova credit counseling specialist is reputable:
- Ask for references
- Check out their qualifications
- Ensure that your counselor is certified
Don’t forget, being a not-for-profit isn’t going to guarantee that a credit counseling service is reputable, and the other way around. No need to be happy with a credit counselor that you can’t put your confidence in. Let us help you find an experienced Cordova credit counseling specialist.
Don’t forget that credit counseling is a method of managing debt, not eliminating it. The good news is, it does lead to reduced monthly bills by means of more affordable, even frozen, interest and fees.
To find out just how much you could save, you need to speak to a trained Cordova credit counselor – today!
The Federal Trade Commission prohibits credit counseling companies from billing you in advance. Signing up for a debt management plan should not be more than $75, and the monthly fees should be only $40.
The vast majority of plans will have you pay back 2.5% of your total debt a month.
Bankruptcy Credit Counseling in Cordova (TN)
Have you been considering filing for bankruptcy? You aren’t the only one. There are 52,710 consumers living in Cordova, TN, and it’s estimated that 379 have found it necessary turn to bankruptcy.
As dictated by the FTC, you must enroll in a pre-bankruptcy Cordova credit counseling program prior to declaring yourself bankrupt. This session needs to be within six months of when you file. You don’t need to pay a visit to a local Cordova credit counseling service. Services are accessible over the internet and on the telephone.
The program typically lasts an hour and a half, and may cost about $50, but the fee must be waived if you’re unable to afford it.
For an approved list of approved bankruptcy credit counseling agencies for Cordova residents, click the link. Or alternatively, you can converse with a skilled debt advisor:
Debt and Credit Counseling Agencies: Cordova, TN
- Givens Jerry R, 291 Germantown Bend Cv, 38018
- Midsouth Creditcare, 235 Germantown Bend Cv, #4, 38018