IL Debt Relief

Credit Counseling: Villa Park (IL)

We make it easy to find the very best debt relief and credit counseling companies in Villa Park, IL.

We can get you in contact with a debt relief specialist who can offer you a free debt assessment, savings quote, and affordable solution.

Generally consumers in need of Villa Park credit counseling have the following:

  • $3,000 in Non-Secured Debt
  • Ability to Allocate $250-$300 Toward Monthly Payments

Please remember that credit counseling depends on trying to pay back your creditors completely, but it will look considerably better to future creditors than debt settlement.

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Your ratio of debt to income helps to verify whether or not you’re in need of credit counseling. Let’s consider a few estimates based on a salary of $54,517 a year, the Villa Park average:

  • $1,635 (36%): Great
  • $1,635 to $1,953 (36-43%): Acceptable
  • $1,953 to $2,272 (43-50%): Cause for Concern
  • $2,272 or more (50%): Severe

Credit Card Counseling Programs in Villa Park (IL)

Debt Counseling Villa Park IL

If you have considerable debt, your credit counselor could very well want you to enroll in a debt management plan. A DMP is a way of consolidating debt, given that the money you owe every month is combined into a single payment, but no loans are needed.

On a monthly basis, all you have to is give a pre-specified sum to your Villa Park credit counselor, and they’ll circulate the correct percentages to each of your creditors.

Steering Clear of Credit Counseling Ripoffs in Villa Park, IL

Credit Counseling Villa Park IL

As a program, credit counseling has been checked out by the Federal Trade Commission and other government authorities, but legitimate credit counselors in Villa Park, IL, and throughout Illinois will usually furnish you with:

  • 45 to 60 Minutes of Introductory Counseling
  • No Advance Charges
  • A Tailor-Made List of Action Items
  • Proof of Accreditation

For details, look at this FTC article on the topic.

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How Much Will Credit Counseling Help You Save?

Credit Counseling Villa Park IL

Don’t forget that credit counseling is a means of managing debt, not settling it, but your credit counseling specialist will usually be able to secure reduced APR’s and fees and penalties. One of the debt experts we work with can look at your finances and offer you a quote for how much you could save.

Debt management programs in Villa Park are very inexpensive: less than $40 each month, and the cost is built into your monthly payment.

As far as the specific payments, you will typically have to submit a payment of 2.1-2.5% a month to your credit counseling agency for disbursement to your assorted credit card companies.

Below is an outline of how much this amounts to, given differing levels of debt.

Debt 2.1% 2.5%
$5000 $105 $125
$20,000 $420 $500
$25,000 $525 $625
$35,000 $735 $875
$45,000 $945 $1125
$50,000 $1050 $1250
$55,000 $1155 $1375
$75,000 $1575 $1875
$80,000 $1680 $2000
$90,000 $1890 $2250
$100,000 $2100 $2500

Non-Profit Credit Counseling Services in Villa Park (IL)

CCCS, also called Consumer Credit Counseling Service, may provide reasonably priced credit counseling for Villa Park families. In Villa Park, Illinois, a Consumer Credit Counseling Service will generally be:

  • Non Profit
  • Affiliated with the National Foundation for Credit Counseling (NFCC)
  • Have the acronym CCCS in their Website

Ordinarily a CCCS firm will make available more than just credit counseling. They will provide Villa Park bankruptcy credit counseling for Villa Park residents, and in many cases housing and credit score counseling. Plan to pay out around at the most $50 on a monthly basis.

To locate the nearest CCCS location in Villa Park, IL, please research the listing of firms we’ve published or visit the National Foundation for Credit Counseling site.

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Credit and Debt Counseling Agencies in Villa Park, IL

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