Mу younger brother іѕ іn a mess financially. Hе hаѕ аbουt $11K іn credit card debt аnd a car note thаt hе owes аbουt $22K οn. Hе іѕ considering filing fοr bankruptcy, bυt I аm trying tο gеt hіm tο look іntο ѕοmе type οf credit counselling. Hаѕ anyone used such a service before? Dіd іt hеlр уου? ANY information уου саn share wіth mе wіll bе helpful. Thanks.
Tags: anyone, Counselor, Credit, experience, using
I would educate yourself first do some reading http://ftc. gov/credit ,http:// www. annualcreditreport. com and then you should get a well put together software and do your own . The process is really not that hard and you will save yourself thousands and gain an education . The are alot of different programs for do it your self . Let me know if you go this route and I will send you the link not afflitated with them just use it myself . Good Luck
Depends on how you define “credit counseling”.
Check out some non-profit groups first (look in the yellow pages or Yahoo search for them).
There are a couple groups in my area that give you a one hour consultation to see what your situation is and give some general advice. If you need more help they charge a reasonable fee.
The key here is the word “counseling”.
Many of these people are actually fronts trying to sell you services like debt consolidation, bankruptcy, legal services, debt reduction or credit repair. If they try selling you this stuff. . . walk away.
The Federal Trade Commission issued a list of questions that are important to consider before choosing a credit counselor. It’s a big step and something that shouldn’t be taken lightly. There are plenty of helpful debt and credit counselors out there, but it’s important to sync up with someone who can help.
Also, some people think that getting a credit counselor will automatically make the debt go away (or easily make it disappear), but your brother will need to be committed to this process to make it work. Check out the 9 questions that he should think about when choosing a credit counselor, and wishing for the best for him.
This is a link to one of the largest in the country. They say you can get out of debt in 12 -36 months. It would be worth looking for some kind of counseling. If you settle debt it will show on your credit report, and it will look a lot better than bankruptcy. If your brother does end up filing for bankruptcy, he will still be able to get loans in the future. I have never filed, but those that I know who have were still able to achieve their financial goals.
http://www. creditwish. com/debtrelief. html