Running your own counseling business
Opening your own business is at the moment the favored selection for numerous people in the present economic climate as gratifying jobs become harder to get hold of, but before you seize your entire life savings and invest it in your own counseling business. What do you need to understand?
So how do you run a new venture? You have always been the one who is told what to do. Right away the shoe is truly on the other foot - you bestow the orders now. But what commands do you give to your staff? 00004000 What indicators do you send out? How do you recognize if what you are doing or saying is the appropriate thing for your new counseling business? It was easy in the past...the boss spoke...and you executed what he/she said then you got remunerated at the end of the day. Having your own business is a little harder, if you get things incorrect now, not only will you not get rewarded (or get remunerated less), your decisions could impact in the negative upon your employees.
Will credit counselors hurt your credit?
My husband and I recently went thru a non-profit credit counseling agency to reduce our credit card interest rates (we were paying 30% default rate on three cards). After several months of paying on time, the credit card companies refused to lower our interest rates. The only way to reduce them was to go thru counseling service. The interest rates were lowered but now that we are getting straightened out thru service, will our credit score suffer?
Consolidated Credit Counseling – What have been your experiences? Can you suggest any non profit agencies?
This would be much appreciated, thank you !
Any opinions on Credit Counseling Centers of America in Peoria, IL? Or any couseling service?
how do credit counseling agencies work exactly? if you have 4 credit cards totalimg $5,000 and each have minimum payments currently of approx $35 which barely covers interest, how can they help? do they charge to help? Should you only deal with so called non-profit groups?
Score wise you should be fine as long as the payments are made on time.
The thing about credit counseling services is that your accounts normally show as “managed by credit counseling” on your report. This will not affect your score but until you are out of counseling it will make it harder to get any other types of loans.
for-prpfot or non-profit credit counseling agencies?
I am looking into going into a debit management plan. I was looking at two companies freedom point and care one. One is for-profit and one is non-profit. does anyone have experiance with these compaines? Which do you feel would be better or safer?
what are good non-profit companies that do credit counseling in Virginia?
and what if your crd cards have already gone to collection agencies??? what will happen then?
what does it mean i will be sued??? and my wages will be garnished?
They lower you interest rates on all you credit cards to 9.9 % instead of the default 32.24%. Which drastically bring down you minimun payments.
They also keep you from receiving additional late fees or over the credit limit fees. Usually about $39 each, so $78/mo.
But let’s say you minimum monthly payment is $250, and it is already 60 days past due, and if your credit card company accepts a proposal from consumer credit counseling services (cccs) for $50, the account will keep reporting to the credit bureau as past due until the payments made from cccs catch up to the min due. You might want to take that into consideration because it also hurts your credit, but it is better thatn your accounts reporting as past due and not making any payments. Good Luck!
Be very careful with credit counseling agencies.
There are good ones out there – and there are bad ones out there.
Any that charges YOU the customer – is not a good deal. Then too there are those that have you send them your money and then you never know what happened to it. No one gets paid and you never get it back.
The only one I can tell you for sure is legit is “Consumer Credit Counseling”. It appears to be the most respected one in the credit industry.
Know too that lenders do not have to abide with whatever a credit counseling agency tells you the creditor will do.
PLUS – talk to the creditor first is a good idea. Explain to them that you are considering this option. You may find that your creditors will work with you to resolve the problem you are experiencing. My company does that. At no cost to anyone.
Good luck.
A lot of people are gonna say “don’t do it, just budget better” or something like that, but I am using the freedom point for debt management, and so far it is working fine, it is helping me budget and everything. I make one monthly payment.
Many non-profits actually charge you a fee and are very much “for profit.” They usually dont have the incentive to work very hard for you though because they hide under that “non profit” umbrella. Check out the free evaluation form at the source website. Hopefully they can keep you from being sued. Good luck.