Finding an experienced Oak Ridge credit counseling agency could be the first step toward freedom from debt. Here at Debt Consolidation Tennessee, we help our consumers find the debt management and credit counseling solutions in Oak Ridge, TN that fit their needs.
For the most part, people in need of Oak Ridge credit counseling have the following:
- Owe at Least $3,5000
- Steady Income
Credit counselors have you pay all of the debt to your lenders, including interest. This is a lot better for your credit ratings in the end than debt settlement.
Managing Debt: Oak Ridge (TN)
If your ratio of debt to income is beyond 50%, you probably should look into credit counseling immediately. For the average Oak Ridge card-holder that has an income of $20,725 yearly, this is more than $864 on a monthly basis.
Suppose you’re shelling out $864 every month and you only make $1,727. In that case, your credit counseling professional will probably want you to enroll in a debt management plan (DMP). By signing up for a DMP, you may be able to enjoy:
- More Affordable Interest Rates
- Fewer Debt Collection Phone Calls
- Consolidated Monthly Repayment
- Quicker Freedom From Debt
Each month, you’ll send a predetermined amount to your Oak Ridge credit counseling company, and they’ll submit the correct sums to your creditors.
CCCS vs Other Choices
Credit counseling should not reduce your credit rating in the end. In spite of this, lending companies may not be able to let you have a new auto or home loan if you are presently enjoying the services of a credit counseling agent in Oak Ridge, TN to get out of debt.
Settling on a Credit Counseling Service in Oak Ridge, TN
Provided that you are dealing with a good agency, credit counseling can be truly beneficial. For that matter, the Federal Trade Commission now mandates it for those who want to file bankruptcy. But stay clear of any credit counseling organizations in Oak Ridge that claim they are able to:
- Put an end to all collections calls
- Reduce guaranteed debts, like auto loans
- Erase your debts via some government program
- Stop creditors from taking legal action against you
- Charge you ahead of time for their solutions
Please remember, being a non profit won’t necessarily mean that a credit counseling program is legitimate, and the other way around.
Don’t work with a credit counselor you can’t depend on. Let us assist you in finding the right Oak Ridge credit counseling organization.
Though credit counseling isn’t going to reduce your debt, you can save a fortune with cheaper interest and reduced penalty charges.
To discover exactly how much you could save, you need to chat with a qualified Oak Ridge credit counselor – today!
Fees Associated with Credit Counseling Agencies in Oak Ridge, TN
Generally, the counseling side of things is free.
Starting a debt management plan should not be more than $75, and the monthly fees should be only $40.
Many plans will require that you pay back 2.5 percent of what you owe a month.
Below is an overview of how much this amounts to, based on various amounts of unsecured debt.
- $15,000 Debt: $315 to $375
- $25,000 Debt: $525 to $625
- $30,000 Debt: $630 to $750
- $55,000 Debt: $1155 to $1375
- $60,000 Debt: $1260 to $1500
- $70,000 Debt: $1470 to $1750
- $75,000 Debt: $1575 to $1875
- $90,000 Debt: $1890 to $2250
Consumer Credit Counseling Service in Oak Ridge (TN)
The NFCC, or National Foundation for Credit Counseling, is the largest network of non profit credit counseling agencies in Tennessee. Members are usually identified as CCCS, or the Consumer Credit Counseling Service. In Oak Ridge, Tennessee, a Consumer Credit Counseling Service will generally be:
- A Non Profit
- A Member of the National Foundation for Credit Counseling (NFCC)
- BBB Member
In most cases a CCCS firm will offer not just consumer credit counseling, but also:
- Pre/Post Bankruptcy Credit Counseling
- Home Counseling
- Credit Rating Evaluations
- Debt Management Plans
Bear in mind, non profit is not to mean cost free. Be ready to spend approximately $35 every month.
To discover the nearest CCCS agency in Oak Ridge, TN, take a look at the list of Oak Ridge credit counseling firms we offer or go to the National Foundation for Credit Counseling site.
Credit Counseling and Debt Management in Oak Ridge (TN)
- Richard Mayer Attorney at Law, 136 S Illinois Ave, 37830