Consumer Credit and Debt Counselling

Credit and debt management are two concepts that directly impact your finances. Without good debt management, you credit score will suffer. Conversely, when you use credit unwisely, it is difficult to practice good debt management. Learning to control your spending and educating yourself on the importance of careful credit use will help you stay on top of your finances.

For those clients living in the following states or territories: Indiana, Minnesota, North Dakota, Puerto Rico, or the Virgin Islands, we are able to provide Budget and Credit counseling – as well as our other counseling services, but are not able to offer a Debt Management Plan. We can, however, provide you with information on who in your state could provide a DMP. If you would like referral information for your state, please click here.

How Does A Debt Management Plan Work?

The following video was produced under our former name of Consumer Credit Counseling Service.

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Best Way to Consolidate Credit Card Debt

It’seasy for credit card balances to spiral out of control, so it’s important touse this form of credit as wisely and sparingly as possible. You should treatcredit cards as a personal debtmanagement tool to increase your credit score. Having some amount of creditavailable to you can raise your credit score, but maintaining too large of abalance on your cards can lower it just as quickly. According to financialexperts, credit cards enhance your scores when you use between 10 to 20 percentof your credit limit – and no more. A large credit card balance can take yearsto pay down. Avoid large purchases and resist the temptation to take advantageof credit card offers with high interest rates. Otherwise, you will likely endup paying far more for purchased items than if you had simply saved up and paidcash.

Getting into debt can happen to anybody. It can start with a job loss, a medical crisis, a natural disaster or even life in general. No one is immune. But once your debt starts to mount, don't rely on just anybody to get you out of trouble.

CredAbility makes it simple to pay down your debt.

Through our Debt Management Plans (DMP), you can pay off your credit cards, lower your interest rates, eliminate fees and put an end to collection calls - forever. Sound like a plan? Good, because our Certified Credit Counselors can help you get out of debt in four simple steps.

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Best Debt Management

The first step is talking to your debt management consultant about your overall financial situation. The consultant will review your monthly income and compare it to your total monthly expenses to get a complete picture of your unique circumstances. The consultant will then contact your creditors to inform them of your intention to enter a debt management program. CredAbility has been in business for over 50 years and maintains contact with an extensive network of creditors. It is often possible to negotiate lower interest rates, which will help you pay off your debt more quickly. Your consultant will also create a repayment plan that allows you to pay down your debt without drastically reducing your standard of living. Debt management takes dedication and some sacrifice, but you will be rewarded by seeing your balances shrink and your financial prospects expand.

How to Prepare for your Counseling Session

We strongly recommend that you watch this video to understand what documents you will need to have available, and how to get the most value from your counseling session.

CredAbility’s counselors are available nationwide, 24/7.To begin pre-filing bankruptcy counseling, call 800.251.2227 to schedule a telephone or in person appointment. 

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What is Debt Management

CredAbility is a national debt management and credit counseling company that can help you break the cycle of debt and reclaim your financial future. No matter how much money you earn or how large your debt has become, CredAbility can help. If you have been overwhelmed by unpaid credit card bills or medical debt, you have probably seen advertisements from companies that promise to erase all your outstanding balances with minimum commitment. Unfortunately, most of these ads are misleading and prey upon vulnerable consumers desperate to find a solution.

Through our Debt Management Plans, (DMP), you could minimize interest rates and payments to creditors, pay down your debt, eliminate fees and put an end to collection calls.

Getting started on your DMP is easy and can be completed in 4 easy steps.

Step 1 –	Provide the basic personal information necessary for DMP enrollment
Step 2 –	Review your creditors and the benefits of your DMP
Step 3 –	Review your current financial situation
Step 4 –	Finally, we will take a look at your monthly cash flow

The total process will only take a few minutes. If you have any questions, a Certified Credit Counselor is available to assist you as you go through the process.

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Reputable Credit Counseling

Reputable debt management companies have nothing to hide. Most nonprofit debt management companies are government subsidized and voluntarily follow strict industry standards set forth by third party organizations. To maintain their licensing and accreditation, these companies must put their agreements in writing. Reputable debt management companies use clear, everyday language and allow potential clients to take as much time as needed to review the agreement and ask questions. If an agency tries to lock you into a verbal agreement, you should seek assistance elsewhere.

Many creditors offer favorable repayment terms to consumers who enroll in a DMP, including interest rates ranging from 6% to 10% on their credit card debt. These creditors may also eliminate late fees and penalties once a consumer enrolls in a DMP with a nonprofit credit counseling organization.

At CredAbility, certified counselors help consumers determine whether they can tackle their financial challenges through budgeting and reduced spending, or if the structure of a debt management plan will be more effective.

What is a Debt Management Plan?
For a small monthly fee, consumers make a single payment to an agency like CredAbility, which acts as a trustee in distributing the funds to creditors. CredAbility works with both clients and creditors to design a debt repayment program that minimizes monthly payments, interest and related fees, providing a manageable tailored plan for the client. This enables the client to repay their entire debt obligation at more favorable terms, and on a plan that is within their ability to pay.

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Personal Debt Management

Building Your Credit with Good Personal Debt Management

Itseems like as soon as you land your first job, you start getting bombarded withcredit card and financing offers in the mail. While the word “debt” is usuallyperceived as a negative term, some debt is actually good. If controlledproperly, debt can help you build your credit score so you can finance largepurchases like a car or new home. The key to good personal debt management is understanding how good forms of debtcan be used to boost your credit.

Credit cards

It’seasy for credit card balances to spiral out of control, so it’s important touse this form of credit as wisely and sparingly as possible. You should treatcredit cards as a personal debtmanagement tool to increase your credit score. Having some amount of creditavailable to you can raise your credit score, but maintaining too large of abalance on your cards can lower it just as quickly. According to financialexperts, credit cards enhance your scores when you use between 10 to 20 percentof your credit limit – and no more. A large credit card balance can take yearsto pay down. Avoid large purchases and resist the temptation to take advantageof credit card offers with high interest rates. Otherwise, you will likely endup paying far more for purchased items than if you had simply saved up and paidcash.

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Pay Credit Card Debt

But how do you pay credit card debt? As a start, the professional counselors of Credability will give you free advice to help you out. They will discuss to you a clearer review of budget planning to get hold of your debt. Not only that, this will also teach you to start saving. In the process of your budget planning session, we will help you come up with the best way to evaluate your financial status. Following that, we will provide to you a personalized plan for you to pay credit card debt. This way, you will have a brand new start to prepare for a more secured future.

Credit card debt is truly a dilemma, especially when you are unable to pay on time. But despite your economical crisis, we at Credabilty understand your situation and we are here to help you out. Together, we will come up with proper budget and financial planning, your credit card debt will surely be resolved.

Some people have the notion that we are working for some credit card companies and we are grabbing that opportunity just to get your money. We’ll, we like to clarify that they are very wrong. Credability has been in the service of helping people like you for more than 40 years. We have already built trust with our clients.

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