Because of the experience that consumer credit counseling groups have with dealing with creditors, you will often see interest rate decreases and increased flexibility in your payments. Your counselor will do everything in their power to set up a repayment plan that makes you and your creditors equally happy. In many cases, the debt repayment plan actually has you provide the consumer credit counselingagency with your debt repayment amount each month, and they distribute the money to your creditors on your behalf. This allows you to have a single bill each month that, if paid regularly, will lead you to having all of your debts repaid in a reasonable amount of time.
The additional support in budgeting coupled with the assurance that your debt load is decreasing instead of increasing each month is the main benefit of a consumer credit counseling debt repayment plan. By working with a trained professional who can review your finances with you it helps make you accountable - knowing that you will be looking over your finances on a regular basis with another person can help make you adhere more strictly to your budget.
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consumer credit repair
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