Debt Relief

Credit Counseling: Lewisburg (TN)

What if you could manage your money more efficiently and reduce your monthly payments? At Tennessee Debt Consolidation, we’ve got advisors standing by to evaluate your finances and tell you how much you could save through credit counseling.

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Originally, credit counseling was established to help creditors collect money from consumers who were overdue on their repayment schedules. This means that virtually all credit counseling companies are very reasonably priced.

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On average, the salary for people in Lewisburg is $36,733 per annum, which is $3,061 every month. You need to get in touch with a credit counselor if you earn this much and are forking out $1,316 to $1,531 monthly on debts that are secured or unsecured, for example:

  • Rent
  • Payday Advances
  • Auto or College Loans
  • Bank Cards

What if you’re having to pay $1,531 monthly, but you only make $3,061? If that’s the case, your credit counseling consultant might have you sign up for a debt management program. A debt management plan is a way of consolidating debt, given that the money you owe on a monthly basis is merged into just one sum, but no loan is required, as opposed to various other forms of debt consolidation in Lewisburg, TN.

Every month, you’ll give a fixed payment to your Lewisburg credit counselor, and they will then divide up the money among each of your creditors.

Negotiation versus Credit Counseling in Lewisburg, TN

Credit Counseling Lewisburg TN

The majority of consumer credit counseling firms try and have debt free in under five years, sometimes less. Your credit ranking usually doesn’t decrease, but it may be difficult to get new lines of credit like property or auto loans. If you were to settle what you owe at a lower sum through Lewisburg debt settlement, you could you expect your credit scores to be seriously damaged. While a debt consolidation loan may stop your credit score from going down, this form of debt relief hazardous. All things considered, you could lose the property you used to back the loan, typically your house.

Tips on Avoiding Credit Counseling Shams in Lewisburg (TN)

As a program, credit counseling has been checked out by the FTC and other government bodies. But the truth is, you should make perfectly sure that any credit counselor you find in Lewisburg, TN, is an honest one. You can do this in many different ways, for example checking their customer feedback, checking out whether they’re licensed to do business in Tennessee, and looking at their Better Business Bureau reviews.

To read more, check out this FTC guide on how to find a credit counselor.

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How Much Could Credit Counseling Save You?

It’s tough to say how much money you will save. Thank goodness, it does contribute to more affordable monthly payments by means of lowered interest and fees. Want to find out how quickly credit counseling could free you from debt?

Credit Counseling and Bankruptcy: Lewisburg, TN

Bankruptcy Credit Counseling Lewisburg TN

The economic recession was an issue for everyone, and bankruptcies practically endemic in Lewisburg and across Tennessee. Of the 18,851 residents of Lewisburg, it’s estimated that 136 have filed for bankruptcy. Since 2005, somebody in Lewisburg who would like to file for bankruptcy protection must first acquire a certificate demonstrating that they attended an approved credit counseling program in Lewisburg, TN. You do not have to work with a local Lewisburg credit counselor. Services are offered over the internet and by phone.

The course ordinarily costs $50. For an approved list of approved bankruptcy credit counseling programs for Lewisburg residents, click here. Alternatively, you can get hold of an experienced credit professional by filling out this form.

Credit Counseling and Debt Management Agencies: Lewisburg (TN)