Have you ever spent beyond your means? Don’t worry you are not the only one who has made this mistake because some people think that as long as their purchase is approved everything is ok. But is it? When the bills come in and you can’t pay for them, you might need credit repair and counseling.
Credit counseling can help with credit repair because they will act as your financial advisor. Most of these individuals are certified accountants and they will do the negotiation and leg work on your behalf.
Before they can talk to your bank, they will first have to review how much you owe and then come up with a plan.
This is better known as the debt management plan. Once the banks agree to it, you have to do your share by making the monthly payment and doing a few other requirements.
These include closing all unsecured credit accounts, not taking any additional unsecured credit, monitoring your credit card payments so you see that your debt is slowing being paid off.
The benefit of this arrangement is that you will be able to pay your debts at lower interest rates, reduced or waived late fees and payment terms from as short as 5 years to as long as 20 years.
What credit counselors cannot do is eliminate the stress that comes with paying bills because again, this is something you have to do on your own. They simply assisted and you have to do the rest.
I think it's because credit repair services are typically long drawn out services and they are all operating on a dull old method that doesn't work well. They just dispute that accounts are yours. Typical credit repair is just a lie. Real Credit Repair Companies
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