1 year, 5 months ago
What do consumer credit agencies do?
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Consumer credit agencies help you consolidate the debt you have from buying too many things with your credit cards. People who accumulate a lot of credit card debt over time often have problems paying it off. Buying items on credit is convenient but can cost you more with interest charges over the long run. If you have a lot of debt spread out over several credit cards, you are likely paying a lot of interest charges on it. Consumer credit agencies work with the banks you have credit cards with to get your interest charges lowered and help you get your bills paid off sooner.
From financialplan.about.com
-quote
Many people are living paycheck to paycheck and are worried about overdue bills and debt collectors. Not knowing how to develop a good budget leads some to consider using a credit counselor. Consumer credit counseling agencies are nonprofits that will help you find a workable solution to financial problems.
-endquote
Therein lies the problem. It is true that if you work with a consumer credit company it kills any chance you have of getting a future loan of any sort. Working with a consumer credit company will help you get your credit cards paid off faster. It will also ruin your credit score. You needed help to pay off debt you created. No bank will want to loan money to someone who couldn’t manage the credit they already had without help.
From financialplan.about.com
-quote
Many people are living paycheck to paycheck and are worried about overdue bills and debt collectors. Not knowing how to develop a good budget leads some to consider using a credit counselor. Consumer credit counseling agencies are nonprofits that will help you find a workable solution to financial problems.
-endquote
Therein lies the problem. It is true that if you work with a consumer credit company it kills any chance you have of getting a future loan of any sort. Working with a consumer credit company will help you get your credit cards paid off faster. It will also ruin your credit score. You needed help to pay off debt you created. No bank will want to loan money to someone who couldn’t manage the credit they already had without help.
You can leave an optional "tip" with Mahalo's virtual currency, Mahalo Dollars. If you are asking a difficult question that might require some research, or if you'd like a wide variety of feedback, a higher tip often leads to more answers to your question.
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