Try consumer credit counseling services before bankruptcy

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If you are buried in credit card debt and don’t know what to do about it, where to turn, it can be a pretty lonely place. The fact is, however, that many millions of Americans are in the exact place you have found yourself; you are definitely not alone. There are several remedies that you could consider to help you get out of your current situation, such as refinancing your home for a debt consolidation loan rates, going bankrupt, debt consolidation services, or consumer credit counseling. Which is the better option for your unique financial situation? To begin with, you may want to try the least invasive option, a non-profit consumer credit counseling service.

What is non-profit consumer credit counseling?

A non profit credit card counseling service might be able to find a solution to your credit card debt and other debts, without the adverse repercussions that can come from credit card charge-offs or a bankruptcy, which can cause long-lasting damage to your credit history. Consumer credit counseling services are available to consumers who have amassed a large quantity of credit card and other debt as an alternative to going bankrupt. One of the primary goals of a non-profit free consumer credit counseling service is to educate the consumer about proper planning, budgeting, and credit card management.

Once you completed the non-profit credit card counseling course and lessons, you: should have a much deeper understanding of how to organize your family’s budget; will have a plan of action to completely pay down your credit card debt; will have a contingency plan of action in case your finances change and you are no longer able to pay on your credit card debt. A contingency plan could include working through a free debt consolidation advice or a debt settlement service to reduce the amount that you owe through a settlement plan.