Debt Consolidation Credit Counseling In Phoenix

Are you suffocating from a financial burden--finding it more difficult to stay afloat? If your spending habits have got you into a truly bad spot and you can no longer afford to make your card account paymentsand are falling behind so fast the light at the end of the tunnel is getting dimmer and dimmer, you shouldn't hesitate to give a non-profit debt consolidation service a call. There may still be options for you.

A debt consolidation services non profit company will provide you with a certified credit counselor. Your counselor will need all of your financial information; all past due accounts,balances, and proof of your total monthly income. When you are done with this they will work to establish a payment plan for you to fit your specific situation.

When a plan is agreed upon, they contact all your creditors and negotiate on your behalf to get fees and interest waived and /or reduced, many times as much as 50% sometimes even more. All the debt that you owe is consolidated into one payment that you send to the debt consolidation company. They take that money, less their service fees (which are included in your total) and distribute the agreed upon payments amongst your creditors..

As long as you've chosen a reputable company, you can rest assured that your payments will be made on time--all that you a required to do from now on is send them that one monthly payment; everything else is handled by them. You'll get a statement every month so you can monitor your progress and watch your debt disappear.

This is a really big decision to make, as you can see, having someone else be in control of your finances like that. You absolutely must research these companies beforehand; make sure that all of the consumer reports listing for the company are good and they are favored with the BBB.

There should also be opportunities to get educated on the topic of financial responsibility.Programs that teach the fundamentals of proper credit use should also be available..