Finally Ready for Responsible Credit Card Management? Choose Credit Counseling Services Today

We found some helpful credit counseling services after scanning the UK’s debt consolidation and relief programs.

The credit counseling market in the US is growing. In the last 5 years, 4.9% more companies have entered this sector. It is now worth $95.2 billion.

Now, the question is, why are Americans resorting to credit counseling services? Firstly, they charge low to moderate fees. Secondly, they provide tailored customer services. At the same time there are many reputed counseling service companies also.

What do you expect from credit counseling services? Well, they offer your budget review and debt analysis. But that’s not the best part. They will also provide you with a personalized action plan.

This action plan can eliminate credit card payment lapses or any pounding debt.

What are credit counseling services?

The counseling agencies can help you to understand your debt better. When you know your debt and financial situation, you can easily find a solution to be debt-free. Unlike debt consolidation in the US, these agencies mainly offer consultancy.

But they are generally nonprofit companies helping people with better debt management.

What are the kinds of credit counseling services?

There are various kinds of services. But the most popular credit counseling services in the US are:

• Credit counseling in the pre-bankruptcy stage
• Credit counseling for new housing
• Credit education for home buying
• Student loan counseling
• General credit counseling

How do credit counseling agencies work?

These agencies are primarily nonprofit companies. However, they have to cover their expenses. So, they also provide debt reduction strategies, to the needful. But these programs are not free of cost.

Debt management is of different kinds. It might be debt consolidation, debt settlement, or debt forgiveness. The first policy is to accommodate all painting dues under one debt plan. Hence you have to pay a single monthly premium towards all debts. On the other hand, debt settlement is partial debt relief. For example, we imagine you had $10,000 in debt with the Bank of America.  When you cannot pay, the bank relieves you from $5000 worth of debt.

Now, you must pay only the remaining 5000 to settle your debt.

The last is debt forgiveness. It is a legal petition where you state that you cannot pay your debts. However, there is one more factor here. The court will check if you can pay the debt in the foreseeable future. If there are no chances of debt retrieval, the court will move towards debt forgiveness programs.

Best ways to find credit counseling services

It is one of the growing industries in the US. But I must warn you against choosing your next-door credit counselor. Firstly, check if the person is a Credit by the National Foundation for Credit Counseling.

All private credit counseling agencies meet crucial standards of the NFCC. Firstly, they are registered as 501(c) (3) nonprofit bodies. They should also comply with the quality standards applicable to NFCC members. Meanwhile, they can only provide counseling guidance that complies with federal and state laws. Lastly, they should have the accreditation of the Council on acceleration (COA) too.

Pros and cons of credit counseling services in the US

Credit counseling services have many benefits. But they have some limitations, too.

Pros

Their debt management charges are nominal compared to other debt services. Most popular credit counseling services have positive customer reviews. The services are acceptable and realistic.

It is better if the agency has HUD approved counselors.

Cons

Many credit counseling agencies enroll people with at least $1000 in debt. Often, credit counseling services don’t allow debt of more than $100,000.

The best credit counseling services

Credit counseling services are effective in reducing individual debt in the US. The total accumulated individual debt in the country is more than $17 trillion. Hence, discretion to identify the best credit counseling services.

We can mark the best counseling parameters they use.

Apprisen

We believe it is the best credit counseling service in the US. Apprisen’s low enrollment fee (0 to 45) makes them popular. Their monthly fees are the same. You can enroll in their program for a very low debt, too.

Generally, credit counseling services work with individuals or entities having a standard debt. But not Apprisen.

Best Features

• Meager debt management fees
• Positive customer reviews
• Customer support is highly accessible

Cambridge Corporation for credit counseling

It is one of the most popular credit counseling services in the US. However, their enrollment and monthly fees are higher than  Apprisen’s.

To book a Credit counselling session at Cambridge, you must enroll with $75. You must also pay a monthly fee of up to $50. But the good thing is that you can also enroll with a debt as low as $10. Another reason to choose Cambridge is they have HUD-approved counselors. Their customer reviews are also excellent.

Best Features

• Highly accredited counselors
• Fees are comparatively lower

Incharge Debt solutions

If you want to book credit counseling services from a company awarded the NBRI Circle of excellence, choose none other than Incharge. You must pay an average enrollment fee of $75 to book their service. Also, a monthly payment of $33 is applicable. Moreover, you must enroll at least $1000 debt.

In conclusion, the charges are higher with strict enrollment rules. So why choose Incharge?

The company provided debt relief to over 68000 distressed people two years ago. So far, their plans have paid off $95.5 million debt successfully. I also found that InCharge has a trust score of 4.7 out of 5 on Trustpilot.

Best Features

• Best-in-class track record to help people recover from Debt
• Transparent fees
• Very positive customer review

Money management international

Do you want to book a Credit counseling service that provides financial education through workshops? Don’t worry. Money Management International is here. Among other benefits, their enrollment and monthly fees are also very low.

You can enroll for their services for as low as $0. The highest you have to pay is $75. They also allow clients to consult them with a monthly fee as low as $0. The highest monthly fee someone has ever paid to Money Management Intl is $59. Another good thing is that the minimum debt requirement is $0.

But these are not the only factors why Money Management International is on our list. They provide 24×7 services. They also have an extensive range of credit counseling services to choose from. Hence, if you work with them, you can be totally debt-free.

I also found the benefit of diverse digital tools to provide online assistance to clients. And that was the best thing about them, I felt.

There are, however, some negative customer reviews also. Some say they don’t get in-person assistance from Money Management International in their states. All services are not available throughout the US.

However, MMI is reported for conducting financial education workshops in person. They will also help you with valuable contacts of debt settlement companies. They will also share eviction and foreclosure prevention tips that nobody will give you. You can also watch their free podcast and educational webinars if you want to live a debt-free life.

The best credit counselling

The credit counseling services can help you to ward off your debts. Besides, the credit counseling industry in America is growing big. You may see assistants from any company. But be wary of some elements before choosing.

Check who has the lowest enrollment fee and monthly fee. Also check if there are other hidden fees applicable. After that, look out for customer reviews of a credit counseling service. Do the needful and select what’s best for you!

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