Credit Counseling to the Rescue

Credit Counseling to the Rescue

Credit Counseling to the Rescue

One of the most common financial problems that consumers are currently wrestling with is a high level of unsecured debt, much or all of which may be at high interest rates. This unsecured debt is mostly in the form of credit cards, and this is also the most problematic form due to stratospheric interest rates which can reach as high as 29.99%, plus other fees and charges. The remainder of the unsecured debt is divided among personal loans, department store cards and oil company cards, plus a few other types of accounts. Running in parallel with this debt problem is the fact that many Americans have seen reductions in their income as a result of the recession, largely because of job loss, reduced work hours or the need to leave a faltering industry in search of greener pastures elsewhere. These financial burdens are doing even more damage because they are applying pressure to the secured debt that consumers have always carried from mortgages and auto loans and leases. What's more, consumers have sustained huge losses in the equity they have in their homes with many now even finding themselves "upside down" on their largest single investment.

There is a clear need for a powerful solution to the financial hardships that so many are experiencing as the economy continues to sputter. Fortunately, there is debt relief available for the unsecured debt problem which weighs so heavily on the backs of overburdened consumers. Credit counseling and a debt management plan (DMP) can provide this relief by offering reduced interest rates, payoff schedules of just 5 years or less, an end to collection phone calls and preservation of the consumer's credit score, among other benefits. Speak with a debt professional today and find out if credit counseling and a DMP can make the crucial difference in helping you to get back on the right track financially.

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