Debt And Credit Counseling
Get a Grip on Debt With Credit Counseling [K] [i] [n]
Michi Beck (Kindle Edition) Smashwords 2010-12-18
Release date: 2010-12-18
Price:
$1.99
Answers
I'm looking to start a credit counseling business, but I can't stand to use one of those rip-off scheme names like Debt Consolidators of America, or DebtFree, etc.etc.
I want something unique and quirky, but without confusing people or risking the chance of getting no clients because they won't take the business serious based on the name...
Appreciate the feedback! 10pts.!
Do you have all of your licenses and credentials required to start such a business? And remember, you will be in competition with Consumer Credit Counseling, a long-standing and well regarded non-profit organization that has been around for decades. Who is going to pay you when an organization like this reputably helps those who are in financial difficulty and probably can't afford to pay you? Where's your customer base with enough money to pay you? Not people who cannot pay their bills, that's for sure.
www.CreditRepairPublishing.com CREDIT COUNSELING and DEBT CONSOLIDATION What you need to know before you sign up. "(NPR News, May 15, 2006 ...
I am starting a personal debt counseling business later this year, to help general consumers make a plan to get their financial lives under control. This is not the type of business that consolidates your debts for you- so you don't have to worry that I won't be responsible with your money or mess things up worse for you. I meet with you, analyze your debt, create a customized budget for you, teach you about how to improve your credit score and how to avoid future problems, etc. Is this a service you think is valuable? Does $100 for 3 sessions, including customized plans and analysis, seem reasonable? Any suggestions on how to make people understand how I'm different from the other credit counseling services?
People would pay $100. I think that is a completly reasonable price, your biggest problem will be marketing yourself to customers though. If you stick with it, I'm sure that your initial customner base will expand mainly through referals.
I am looking for a good company to help us negotiate the rates on our cards that we used to start our business. And to hear from personal experience if this is a good way to go.
I've recommended the resource listed below to a number of folks, and they've all been pleased with the results. Just make sure that the company you go with is non-profit and doesn't charge you a fee. If they ask for a fee, go elsewhere fast.
I have some bills that need payed off and I have one credit card. My question is if I go or contact a Credit counselor or Debt help business(Careone credit,debt relief agency) will they freeze my credit card account or put it on hold? My debt situation is not bad, but I've heard that if you seek help through a business that specializes in credit card debt or collections, they will freeze all of your credit cards. I am slowly building up my credit and I would hate to have them take my card away. Is this true? Any one that has or has had this problem or knows the facts please let me know some options.....Thanks!!!!
when you go through a agency such as consumer credit counseling, you are not allowed to use your credit cards or obtain any new debt. This is not the law or anything, just the rules of the agency. Also most of those agencies are able to get you lower interest and such because they don't pay your bills for 3 months making you 3months late on all your bills. And most of the time when you are 3 months late, the credit card company won't allow you to use your cards.
I am unable to make the high payments because after being late the banks are now charging me 30% interest. I have between $15 and $20 thousand in un-secured debt and our income has plummeted due to low sales at our business. I am looking to either sign up with a consumer credit counseling service where they can lower your interest rate or with the other option which is a debt settlement company where they settle with the creditors for a lower amount to be paid back. I want to know which will be a lesser negative effect on my FICO score. I have always had excellent credit but now I want to do what is best for my credit score.
what ever company you decide on, please go to www.ripoffreport.com and check them out there. (the site is free to use and it is a site were consumers report problems that they have had with various businesses). If your potential company is on there that might be a bad sign.
I hear that you will have to pay these services a fee so make sure you find out upfront what that fee will be.
Buy Cheap
Lawsuit says Camebridge Credit Counseling has conflicts
The state of Illinois is suing Cambridge Credit Counseling, both for apparent conflicts of interest and illegally high fees. Cambridge Credit Counseling is a debt management service. They help customers create budgets and get rid of debt.
In the lawsuit, the Attorney General of Illinois says that Cambridge Credit Counseling has an inappropriate relationship with for-profit companies Brighton Credit and Brighton Debt. Gather.com says: “Cambridge actually paid them to service debts instead of the for-profits paying Cambridge for directing business to them.”
Cambridge Credit a curious caseI’m not sure why Cambridge paying the companies is somehow worse than if the Brighton companies had paid them. I can see why it would be a crime for Brighton to pay Cambridge, but not the other way around. I guess I’m no financial expert. However, you can check out Cambridge Credit Counseling ’s conflict of interest policy on the company’s web site.
...News
Credit card costs at center of reformnwitimes.com - Feb 23, 2010
BBC NewsLinda Shedrow, debt management and bankruptcy manager for Consumer Credit Counseling Services of Northwest Indiana, said skyrocketing debt loads are forcing Navigating New Credit Card Rules Do's and Don'tsFederal credit law affects studentsCambridge Credit Counseling in Hot Water - -all 2,031 news articles »
I-Newswire.com (press release) - Feb 24, 2010
The problem with this is that so many people are unable to afford the monthly payments in a credit counseling program, and must seek debt settlement. and more »Macon Telegraph - Feb 23, 2010
Any debt repayment company operating in Georgia thought to be in violation of this law should be reported to the complaint line of the Governor's Office ofMarketWatch (press release) - Feb 23, 2010
Debt Management and Credit Counseling Agencies: Discover supports www.helpwithmycredit.org, an industry effort to assist and educate people struggling to and more »BigNews.biz (press release) - Feb 21, 2010
There are some questions related to your debt and credit cards, which you need to answer and accordingly debt counseling is planned for you. Consumer Debt Relief - How to Locate Established and Proven Consumer Debt Personal Debt Relief - Do You Have Too Much Debt? Legal Ways to Get Out of all 79 news articles »
TMC Net - Feb 18, 2010
You must realize then that it is imperative for you to consolidate credit cards dues to get out of the economic mess. Counseling services provided by debt Non Profit Credit Counseling - Consumer Credit Counseling Services Provide all 94 news articles »WalletPop (blog) - Feb 23, 2010
It's America Saves Week, so why aren't you saving?"I've been in the credit counseling business for over two decades," Gail Cunningham, spokeswoman for the NFCC, told WalletPop in an e-mail. and more »