Debt Consolidation News

What is Consumer Credit Counseling? 
It is a service provided by various private agencies / non - profit organizations to the people who are deep in debt and don’t know how to find a way out.

I have lot of debt. Should I go for counseling?

It is not a free lunch. First see if you are self disciplined enough to make a plan for yourself. Noone can help you better than yourself. Ultimately it is you only who knows your limits, your expense habits, your budget. If you cant help yourself then go for counseling.

If Credit Counseling is provided by non-profit organization, is it going to be free?

No. As a matter of fact there have been scenarios where non-profit organizations are found charging more than a for-profit organization. Ultimately you should do your own research and then select the service that is well within your budget.

How Credit Counseling is going to help me?

Typically a credit counseling organizations will advise you on managing your money and debts. They will help you develop a budget, offer free educational materials and formulate a debt consolidation plan for you.

Most of the services are offered on internet or on phone. However try to find a service that offers an in-person assistance.  Many universities, military bases, credit unions, housing authorities, and branches of the U.S. Cooperative Extension Service  offer the counseling service.

Also read this article for some nice tips on debt consolidation.