If you feel as if your life has gotten off course financially, you’re not the only one.
We’re able to put you in touch with a credit counseling expert based upon your location, unpaid debt, and other factors. You could find yourself on the way to financial freedom in less time than you thought possible – don’t hesitate!
As for the cost of credit counseling, Mayfield residents typically find that it’s the lowest priced means of getting out of debt.
Your ratio of debt to income helps to gauge if you need credit counseling. Why don’t we check out several estimates based around a salary of $28,037 each year. That’s the average in Mayfield.
- $841 (36%): Optimal
- $864 to $981 (37-42%): Okay
- $1,004 to $1,168 (43-50%): Cause for Concern
- $1,168 or higher (50%): Severe
Mayfield (KY) Debt Management
What if you’re having to pay $1,168 on a monthly basis, but you only earn $2,336? Then your credit counseling professional may advise you to participate in a debt management plan. A debt management program is a type of debt consolidation, as your credit card, loan, and other debt payments is consolidated into a single payment, but there is no loan needed. This is different from various other types of debt consolidation in Mayfield, KY that use secured loans to repay your credit card balances.
You will write a single monthly check to your Mayfield credit counselor, and they will allot the money among your creditors.
Choosing a Credit Counseling Service: Mayfield, KY
Provided that you are dealing with a good agency, credit counseling can be truly beneficial. Truth be told, the FTC now mandates it for individuals declaring bankruptcy in Kentucky and nationwide, but you must ensure that any credit counselor you find, is an experienced one. You can do this in many different ways, like examining their testimonials, examining whether or not they are accredited in Kentucky, and viewing their BBB page.
To learn more, check out this FTC guide on the subject.
How Much Could Credit Counseling Save You?
It’s difficult to say exactly how much it’s possible to save. However, your monthly payments should be less costly because of reductions in interest and fees. To learn exactly how much you could save, chat with a qualified Mayfield credit counselor – today!
Consumer Credit Counseling Services: Mayfield, KY
The NFCC, or National Foundation for Credit Counseling, is the leading network of non-profit credit counseling services in Kentucky. Network members are generally generally known as CCCS, or Consumer Credit Counseling Service. A Consumer Credit Counseling Service in Mayfield, KY, will normally be a non profit firm that is a part of the National Foundation for Credit Counseling. In most cases a CCCS organization will make available:
- Bankruptcy Credit Counseling
- Housing Counseling
- Credit Report Evaluations
- Debt Management Plans
Be ready to shell out roughly no more than $40 per month. To locate the nearest CCCS location in Mayfield, KY, have a look at the directory of Mayfield credit counseling firms we offer or visit the National Foundation for Credit Counseling website.
Credit Counseling / Debt Counseling in Mayfield (KY)
- KY Credit Counseling Service? Contact us!