Did you know you may be able to completely pay down your credit cards, medical bills, and get your life back on track in 3-5 years?
We’re able to get you in touch with a credit counseling consultant based upon:
- Your Location (Saint Charles)
- How Much You Owe
To start, request your free evaluation. Don’t hesitate. You can start getting debt relief today.
Credit Counseling Basics
These days, many credit counseling agencies in Saint Charles are bankrolled at least to some extent via fee income, generally known as Fair Share. This means that a good number of credit counseling programs are quite affordable. We estimate that 1,824 of Saint Charles’s 49,466 inhabitants are in need of credit counseling.
Debt for Saint Charles Residents: When Does it Become Excessive?
On average, the salary for residents of Saint Charles is $86,733 a year, or $7,228 monthly. You need to get in touch with a credit counselor if you earn $7,228 and find you are spending $3,108-$3,614 monthly on debts that are secured or unsecured, for example:
- Credit Lines
- Loans – Vehicle, Cash Advance, Home
If you are in severe debt, your credit counseling specialist might advise you to sign up for a debt management program. A DMP is a form of debt consolidation, in that your monthly payments will be consolidated into a single payment. However, no loan is necessary. This is different from various other approaches to debt consolidation in Saint Charles, IL that use secured loans to pay down the credit card companies. You will write one single check each month to your Saint Charles credit counseling company. They’ll divide up the funds among your creditors.
The majority of debt management plans endeavor to have debt free in less than 48 months, oftentimes less. Although this should not make your credit score go down, it could be tricky to get new a line of credit, for example property or auto loans. However, if you were to go with debt negotiation, you could you expect your fico scores to be badly impacted.
How to Avoid Credit Counseling Ripoffs: Saint Charles, IL
As a program, credit counseling has been vetted by the Federal Trade Commission and other governmental regulators. But be wary of any credit counseling organizations that declare they can:
- Halt all debt collector calls
- Settle secured debt
- Guarantee the elimination of unsecured debt
- Impose a fee ahead of time for their assistance
Don’t forget that non profit status won’t always mean that a credit counseling program is reputable.
How Much Could Credit Card Counseling Help You Save?
If you want to calculate how much credit counseling will save you, you need to chat with a credit counseling expert. However, it can often bring about less expensive monthly bills through lowered, even frozen, interest and penalties or fees.
One of the debt experts we work with can take a look at your finances and present you with a savings quote.
Credit counseling firms are not allowed to charge upfront fees by the FTC. Getting into a DMP should not be more than $75, and the monthly fees should be less than $40. How much will your monthly payments be? Typically 2.5% of your total debt.
You might be interested in an outline of how much your monthly payments would be, given different levels of total debt.
- $10,000 Debt: $210 to $250
- $25,000 Debt: $525 to $625
- $30,000 Debt: $630 to $750
- $35,000 Debt: $735 to $875
- $40,000 Debt: $840 to $1000
- $50,000 Debt: $1050 to $1250
- $60,000 Debt: $1260 to $1500
- $80,000 Debt: $1680 to $2000
Credit Counseling / Debt Management Agencies: Saint Charles (IL)
- Primerica Financial Services, 121 N 2nd St, 60174
- Ace’s Credit Solutions, 1830 Wallace Ave, #221, 60174
- Keenan Law Offices, PC, 100 Illinois St, Ste 200, 60174