Consumer Credit Counseling

 

Consumer Credit Counseling, also referred to as Debt Management, is designed to provide financial literacy while assisting the consumer in becoming debt free through a financial workout plan with creditors.  Typical results include reduced, fixed interest rates and lower payments.  Debt is paid off in a fraction of the time when compared to making minimum monthly payments on compounding interest accounts.

 

Benefits of Debt Management
Consumer Credit Counseling is the most credit score friendly debt relief option and offers a number of benefits for those who cannot comfortably afford to service unsecured debt. Clients enrolled in the program can expect to: 

 

 

How It Works
When a client is enrolled in a Debt Management program, they stop paying their creditors directly and are put on an affordable, consolidated monthly payment plan.  Those payments are held in an attorney trust account and disbursed by the agency to the individual creditors.  The entire counseling term is typically 2-5 years depending on the total debt enrolled. 

 

Who it’s For
Most clients who enroll in Debt Management are struggling to stay current with minimum payments but have not yet defaulted on their accounts.  Because the program is approved by creditors, clients will not experience collection activity as long as the reduced monthly payments remain current.  The ability to obtain additional credit can happen relatively quickly because the enrolled accounts have been paid as agreed.

 

Our Credit Counseling Service Provider
Debt Wave Credit Counseling, Inc. is the exclusive Credit Counseling service partner for Loss Mitigation Network. Debt Wave is a non-profit organization that has been providing this valuable consumer service for nearly a decade.  They adhere to the highest level of ethics, integrity and effectiveness as evidenced by their "A+" rating with the Better Business Bureau.