Have the bills been stacking up? If so, you’ll want to find a credit counselor in Granite City, IL. Let’s quickly discover how much credit counseling could help you save.
As for the cost of credit counseling, Granite City residents typically find that it’s the most economical way to get out of debt. We have to assume that 1,700 of the 46,104 residents of Granite City are overdue on their monthly payments.
Debt for Granite City Residents: When is it Too Much?
How much is your debt in total? If you’re spending more than half of what you earn per month on rent/mortgage, vehicle/college loans, and credit cards, you need to meet with a credit counselor in Granite City as quick as you can.
An integral part of credit counseling is managing debt. If you participate in a DMP, your Granite City IL credit counseling agency may able to cut a deal for reduced APR’s and penalties from your credit card companies. You won’t need to speak to your creditors. Your credit counselor will take care of things from this angle.
Keep in mind that credit counselors can help you pay off your debts quicker and at a discounted annual percentage rate. However, you will still be paying down all your debts. Debt negotiation may enable you to pay off just 40-80% of your balance, but it may kill your FICO score.
Steering Clear of Credit Counseling Scams in Granite City, IL
As a program, credit counseling has been recognized by the Federal Trade Commission and other state and federal authorities. Nevertheless, beware of any credit counseling agencies in Granite City that claim that they’re able to:
- Eliminate all calls from debt collectors
- Eradicate damaging items from your credit file
- Reconcile collateralized debts
- Charge a fee ahead of time for their services
Keep in mind, being a not-for-profit won’t always mean that a credit counseling program is bonafide, and the other way around.
How Much Will Debt Management Help You Save?
Just how much that credit counseling will save you depends upon your unique financial predicament, but your creditors may waive extra fees and reduce rates under a DMP. Let a highly skilled credit professional look at your finances and get you a savings quote.
Credit Counseling and Bankruptcy: Granite City (IL)
There are 46,104 consumers living in Granite City, IL, and roughly 256 have turned to bankruptcy.
Credit counseling is a legal requirement prior to declaring bankruptcy. You can do the process:
- In Person
- By Phone
- On the Web
Typically, you will need to sign up for credit counseling post bankruptcy to boot. For an approved list of approved pre-bankruptcy credit counseling courses for Granite City residents, follow the link, and you can talk to a qualified credit specialist by submitting this form.
Credit and Debt Counseling Agencies: Granite City (IL)
- Chs Inc, 50 Northgate Industrial Dr, 62040
- Stanton, Steven – Alternatives to Bankruptcy, 4224 Crescent Industrial Dr, 62040